BlackBerry Up On Patent Settlement, Obama Mention
Shares of BlackBerry Ltd (NASDAQ: BBRY) are moving higher following news of that Google Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) has agreed to settle its litigation with Rockstar over Nortel's patent portfolio.
Google and Rockstar agreed to settle "all matters in controversy between the parties," according to a Reuters report. BlackBerry is a shareholder in Rockstar, along with Apple Inc. and Microsoft Corporation. This also brings to light the value of the patents held by BlackBerry.
Coincidentally, BlackBerry is in the news for another reason, with social media ablaze following reports that President Barack Obama forgot his BlackBerry when he was boarding his helicopter to leave for Las Vegas. He headed back to the Oval Office telling reporters he forgot something. Upon his return, he said it was his BlackBerry.
Shares of BlackBerry were up nearly 4 percent to $10.45.
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