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BlackBerry, Apple lift Nasdaq

Monday, August 12, 2013 - 01:54

Aug 12 - Summary: BlackBerry explores sale option, sending stock up 10 percent; Apple gains on iPhone debut speculation; Krispy Kreme jumps to 9-year high ahead of earnings; Tesla shares slip on downgrade. Conway G. Gittens reports.

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Technology stocks get a lift thanks to BlackBerry and Apple. The Dow and S&P 500 did not benefit at all but the Nasdaq posted a gain. The future of BlackBerry is as jumbled as a QWERTY keyboard. BlackBerry may be looking for a buyer for the whole or parts of the company after not finding many takers for its new smartphones. The company is exploring options for its future, including partnerships or going private, and has set up a special committee to investigate. The device maker has not had much luck catching up to the iPhone or Google-powered devices. The question is - who would want to buy a company so down on its luck? Investors are betting somebody will and that pushed Canadian-listed shares up by more than 10 percent. And speaking of phones, Consumers waiting for the next iPhone only have to wait about a month. The next version of Apple's most profitable product line likely to be revealed September 10th, according to technology blog AllThingsD. Have a sweet tooth for a stock - how about Krispy Kreme? Janney upgraded the stock to a buy ahead of earnings at the end of the month. Why? The analyst visited the doughnut makers' stores recently and says locations are better run and consumers seem more happy than they used to. Shares of Krispy Kreme jumping to a high not seen in 9 years. Meanwhile, some on Wall Street are nervous Tesla shares are running too far ahead of expected sales. Lazard cut its rating on the stock to neutral and that was enough to bring the stock down 3.7 percent. But it's still up 335 percent year-to-date as some bet Elon Musk can spin the electric car into gold. As for European markets, Germany outperformed its peers ahead of data due later this week on the euro zone's economic powerhouse.

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BlackBerry, Apple lift Nasdaq

Monday, August 12, 2013 - 01:54