On Tuesday Jefferies analyst Peter Misek upgraded RIM to hold, citing strong carrier support for BlackBerry 10.
On Wednesday, before the market's Thanksgiving break, National Bank Financial analyst Kris Thompson increased his RIM price target to $15 from $12, citing investor opportunities ahead of BlackBerry 10's arrival next year.
RIM shares rose a whopping 36% during the week's trading to close at $11.66.
There was also some M&A news this week, with Cisco (CSCO) announcing a $1.2 billion deal for privately held cloud networking specialist Meraki late on Sunday. Meraki touts technology for Wi-Fi, switching, security and mobile device management, which is managed from the cloud. With a growing number of businesses letting employees hook their own smartphones and tablets up to corporate networks (a phenomenon known as Bring Your Own Device, or BYOD), Cisco sees an opportunity to tap into this trend through the Meraki. The Meraki acquisition comes hot on the heels of Cisco's $125 million purchase of cloud automation and management specialist Cloupia last week. Cisco shares gained 12% to end the week at $18.84.
Intel (INTC) CEO Paul Otellini will retire in May, the chip giant announced on Monday. Otellini, who has led the No. 1 chipmaker since 2005, has decided to retire at the company's annual shareholders' meeting next year, Intel said. The company's board will consider internal and external candidates to succeed Otellini, according to Intel's statement. Shares of Intel ended the week down 5.2% at $19.72.
Salesforce.com (CRM) beat analysts' third-quarter estimates on Tuesday, boosted by hikes in subscription/support revenue and its professional services business. "Salesforce.com is the first enterprise cloud computing company to exceed a $3 billion annual revenue run rate," said CEO Marc Benioff, in a statement. Salesforce shares rose 13% to close the week at $159.45.
The Thanksgiving holiday and Black Friday may be over, but the holiday shopping season continues apace next week. I hope that you get a chance to rest up this weekend before Cyber Monday kicks off. -- Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: email@example.com.
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