SAN FRANCISCO (TheStreet) -- BlackBerryundefined tanked Thursday after Samsung (SSNLF) denied it was in buyout talks with the Canadian smartphone maker, jerking the stock from its rocket-ride performance the previous day, when reports surfaced that the two handheld device makers were in deal discussions. Taiwan Semiconductor Manufacturing (TSM) - Get Taiwan Semiconductor Manufacturing Co. Ltd. Report , meanwhile, rose sharply after posting fourth-quarter results that beat analysts' expectations, while chip giant Intel (INTC) - Get Intel Corporation Report gave up ground going into its fourth quarter results.
BlackBerry plunged 19.8% to close at $10.11. That's in stark contrast to the 29.7% it gained yesterday on deal rumors.
BlackBerry Limited is aware of certain press reports published today with respect to a possible offer by Samsung to purchase BlackBerry. BlackBerry has not engaged in discussions with Samsung with respect to any possible offer to purchase BlackBerry. BlackBerry’s policy is not to comment on rumors or speculation, and accordingly it does not intend to comment further.
As BlackBerry orchestrates a turnaround, it should have fewer distractions now that the deal rumor has been put to rest.
Meanwhile, Taiwan Semiconductor Manufacturing rose 8.7% to end the day at $22.89.
The Taiwanese chip maker got a boost after posting stronger-than-expected fourth-quarter net profits and revenue. The company posted a record net profit of nearly 80 billion New Taiwan dollars (about $2.53 billion in U.S. dollars) on revenue of 222.52 billion (about $7 billion). That performance beat analysts' expectations of a net profit of 76.5 billion New Taiwan dollars on revenue of 220.2 billion.
The company sells chips to smartphone makers like Apple (AAPL) - Get Apple Inc. Report , which contributed to its strong revenue performance as consumers snapped up the shinny new iPhone 6 and iPhone 6 Plus handsets over the holidays.
Intel fell 0.44% to close at $36.19 during the regular session. But in after-hours trading, it dipped further falling 2.1% to $35.44.
Intel, which reported its fourth-quarter results after the markets closed, beat Wall Street's fourth-quarter expectations by a substantial margin. It posted net profit of 74 cents a share on revenue of $14.7 billion. Analysts had expected the chip giant to earn 66 cents a share on revenue of $14.71 billion, according to Thomson Reuters.
However, in issuing its forecast for the first quarter, Intel gave a lower figure than what Wall Street was expecting. The company expects revenue of approximately $13.7 billion, within a $500 million range, while analysts were expecting something closer to $13.77 billion.
This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.