Tag: nasdaq

What Adobe AIR Apps Would You Like to See on the BlackBerry PlayBook?

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The BlackBerry PlayBook is a highly anticipated tablet that’s going to open BlackBerry development to an entirely new segment of developers. Anyone who can make an app for Adobe AIR will be able to port their app over to the PlayBook and take advantage of a new platform for their app to thrive. So what apps would you like to see on the PlayBook? Here are a few apps that are made with Adobe AIR, that we would like to see on the PlayBook.
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RIM announces common share repurchase program

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RIM’s Board of Directors have authorized a share repurchase program to purchase common shares having an aggregate purchase price of up to US$ 1.2 billion, or approximately 21 million common shares based on current trading prices (representing approximately 3.6% of the currently outstanding common shares of RIM).

The Board of Directors feel that this program is in the best interests of RIM and its shareholders. While their motives were not explicitly stated in the press release, a share repurchase program is generally about increasing ownership of the company by reducing the number of outstanding shares. Overall, this company is going to continue to grow and the more control and ownership RIM has, the better.

RIM stock affected by Nortel rejection during bankruptcy auction

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RIM stock fell 1.43% to $81.99, after Nortel rejected their offer for CDMA and LTE technology being auctioned due to Nortel’s failing business.

The auction is part of bankruptcy protection proceedings and Nortel is claiming that RIM had refused to comply with the court approved procedures.

Overall, Canadian stocks are doing well, and the US economy is showing signs of stabilizing. Federal Reserve Chairman Ben S. Bernanke is optimistic, as all three major indexes in the US closed in positive territory.

The S&P 500 was up 3.45 points, or 0.36%, to 954.58 and the NASDAQ composite index closed at 1,916.20, up 6.91 points, or 0.36%.

[Via]

U.S Stock Market in freefall, everybody gets hit

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The state of the United States economy is such that there seems to be no sector that can avoid the chain of falling dominoes. Partially in reaction to the U.S. House of Representatives failing to pass the proposed $700 billion dollar bailout bill, the NASDAQ dropped 200 points yesterday, around 9% of its total value.

While RIM continued its downward slide, losing approx. 11% of its total value to close at $61.50/share, it was hardly the only technology company in our sphere to get hit. Apple dropped 17.4%, while Google and Adobe dropped around 11%.

For the employees and families of all those companies involved, we hope something can jumpstart the U.S. economy before things get worse. Check out our current Weekly Contest and let us know if you think RIM will be okay.

(via WSJ)