Sept. 27 - Summary of business headlines: Research in Motion quarterly results top forecasts; S&P 500 breaks five-day losing streak; mattress makers make a deal; mixed economic data. Bobbi Rebell reports.
Research in Motion reported a smaller-than-expected loss after the bell Thursday. The struggling BlackBerry maker managed to increase its cash pile as it gets ready to launch its next generation devices dubbed BlackBerry 10, a sign they aren't burning cash. Another positive: sales in emerging markets. Max Wolff, Senior Analyst at Greencrest Capital: SOUNDBITE: MAX WOLFF, SENIOR ANALYST, GREENCREST CAPITAL (ENGLISH) SAYING: "They still have a good name in some places although it has been tarnished and they won't be a leader in the developed world anymore like they were. So it's much promise. It's a little bit like operating system 10 here. Much talked about, much promised, not yet delivered on or actually articulated in a way where the rubber hits the road; where you can pick it up, touch it and review it in terms of an ongoing strategy that is putting up real numbers." Shares jumped in after-hours trading on the news. U.S. stocks got a boost after Spain unveiled plans for economic reform- easing some worries about how the euro zone's debt crisis will be contained. All the major indexes closed higher, snapping a five-day string of declines for the S&P 500. Shares of Tempur-pedic jumped on news it will buy mattress rival Sealy for about $242 million. Mixed economic data: A hopeful sign on the employment front; the number of Americans filing for new jobless claims fell to its lowest level in 2 months. But orders for long lasting goods, like refrigerators, fell sharply in August. And the government revised its measure of second- quarter growth to just a 1.3 percent annual pace from 1.7 percent. And on the home front: contracts to buy previously owned homes fell in August. And Amazon is launching a new business that will offer loans to some of its online sellers. It will create some financial risk for Amazon, but it could fuel more sales in its marketplace- from which it takes a cut. Taking a look at the European stock markets: the major indexes closed higher- lifted by expectations of economic stimulus in China. Bobbi Rebell, Reuters.