RIM's Nortel Bid: Morning Tech Bytes
By Olivia Oran - 04/18/11 - 9:06 AM EDT
NEW YORK (TheStreet
) -- Research In Motion
shares jumped 2% in pre-market trading Monday after a Bloomberg
report said the company was considering a bid on Nortel's
patent portfolio. Google
has already placed a $900 million bid for the wireless technology patents.
In other RIM news, the Blackberry-maker confirmed Sunday that the United Arab Emirates will restrict individuals and small businesses from using the device's secure corporate e-mail services. The restriction will be effective May 1.
Google shares dropped 0.5% to $528.30 after two Korean search engines filed an antitrust lawsuit against the search giant for allegedly limiting their access to Android-based smartphones. The move follows a similar suit filed by Microsoft
against Google last month.
Mutual fund company T. Rowe Price has invested $190.5 million in Facebook
, according to recent filings. It's also invested $71.8 million in social gaming company Zynga
and $35.4 million in consumer review site Angie's List
, emphasizing traditional investment vehicles' willingness to invest in fast-growing Internet companies.
is seeking to unload its hard drive business for around $1.5 billion, according to the Wall Street Journal
. The electronics company is looking to raise cash to invest in new areas of growth.
--Written by Olivia Oran in New York.
>To follow the writer on Twitter, go to http://twitter.com/Ozoran
>To submit a news tip, send an email to: firstname.lastname@example.org
Latest news from section
Latest news from TheStreet