Research In Motion Ltd(NASDAQ:BBRY) shares gained 2.22% to $14.89. The company, on Mar. 28, said its fiscal fourth quarter earnings were slightly better than expected. The company reported $98 million in profits and 19 cents per share. In the same quarter last year, the company reported losses of $125 million or 24 cents per share. Revenue fell to $2.68 billion from $4.18 billion in the same quarter a year ago, and it was less than the expectation of analysts, which was $2.85 billion.
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Additionally, Morgan Stanley (MS) analyst Ehud Gelblum raised his rating on the stock to the equivalent of buy, saying the new BlackBerry 10 smartphone lineup will boost profit margins. BlackBerry, formerly known as Research In Motion Ltd. (BB), is counting on the new Z10 and Q10 phones to regain market share after years of losing ground to Apple Inc. (AAPL)’s iOS and Google Inc.’s Android platform. Android, used by Samsung Electronics Co., and iOS together accounted for 91 percent of global smartphone sales in the fourth quarter, according to IDC.
National Bank of Greece (ADR)(NYSE:NBG) shares fell 2.51% to $0.873. The company, on Mar. 19, announced the initiation of the merger process with Eurobank Ergasias SA. The merger will be effected through the absorption of Eurobank Ergasias SA by National Bank of Greece SA, by consolidating the assets and liabilities of the two merging banks, in accordance with the combined provisions of article 16 of l. 2515/1997 and articles 69-77a of cl. 2190/1920.
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Merger reference date will be the December 31, 2012. The balance sheets of December 31, 2012, will be used as the merger balance sheets of the two banks.
Meanwhile, Autodesk, Inc.(NASDAQ:ADSK) has appointed Tom Georgens, chief executive officer, president and director of NetApp Inc.(NASDAQ:NTAP), to its Board of Directors.
“We are pleased to welcome Tom Georgens to the Autodesk Board,” said the company’s president and CEO, Carl Bass. “Tom brings a wealth of experience and perspective in working with established technology companiesthat will serve the best interests of the company and our shareholders.”
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Georgens has served as CEO and president of NetApp since August 2009, and has been on its board since March 2008. He had earlier served as executive vice president and general manager of enterprise storage systems, executive vice president of product operations and chief operating officer. Before that he served LSI Corporation and its subsidiaries and also EMC Corporation.
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