Street Eases Up on Friday; Blackberry Releases Z10 (BBRY, TIF)
Corporations were in focus on Friday and the major indices in the US managed to snap their losing streak by the close of the bell. Blackberry (BBRY) released its latest smartphone and was trading about 4% higher midday before its rally fizzed out. Tiffany & Co. (TIF) surged after releasing Q4 earnings that beat estimates. Nike (NKE) was also trending after announcing a third-quarter profit of $866 million, up from $560 million just last year.US Markets gained on hopes for Cyprus as many expect to see a resolution for the bailout over the weekend. In Europe on the other hand, most stocks closed lower on Friday as a sense of urgency to make a deal filled the EU. The rating agency Fitch warned today that it may strip the UK of its triple A rating next month because economic recovery appears to be slower than expected.
Word on the Street
- European stocks remain volatile with Cyprus bailout talks in focus.
- Thanks to Tiffany (TIF) and Nike (NKE), the markets rallied on Friday.
- Oil company Total (TOT) approves $10 billion project in Congo.
- After finally releasing the Z10 smarthphone, Blackberry (BBRY) traded up on Friday.
- Hewlett-Packard (HPQ) continues to see gains and ranks at the top for the Dow.
- Oil futures see big gains on Friday but end slightly lower for the week.
- Ultra Salon (ULTA) Plunges on Weak First Quarter Guidance.
Published on Mar 22, 2013By InvestorGuide Staff