Sohu dropped 9.7% to $44.12 after releasing a statement today responding to “rumors circulating in the market.” The shares rallied 12% yesterday as Hong Kong’s South China Morning Post reported that Beijing-based Sohu is talking to investment banks and private equity funds about taking the company private, citing four unidentified people in the financial industry.
Staples tumbled 6.7% to $12.40 after forecasting profit for the current fiscal year that was less than analysts estimated amid what the chief executive officer called “a challenging sales environment.”
CEO Ron Sargent said Staples, the largest U.S. office- supply retailer, worked to manage its expenses in the fourth quarter when same-store sales in North America fell 5%. Retailers including Staples have faced more competition from the likes of Amazon.com Inc. as Americans increasingly shun big-box stores for the convenience of the Web.
BlackBerry, formerly known as Research In Motion Ltd., jumped 5.9% to $13.32. Chief Executive Officer Thorsten Heins told a Spanish newspaper that the company’s new Z10 model has drawn more interest than expected from users of rival smartphones.
EBay Inc. tumbled 2.4% to $53.96. The operator of the world’s largest online marketplace retreated after Colin Sebastian, an analyst at Robert W. Baird, said growth slowed in February as consumers curbed spending.
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