Stocks soar on Black Friday; tech leads the way
— MAP Pharmaceuticals spiked after the company announced that the Food and Drug Administration will review its experimental migraine drug Levadex. The stock rose $2.60, or 20.3 percent, to $15.42.
— KIT Digital Inc., a video software and technology company, lost two-thirds of its value after the company’s former chief executive accused it of blaming prior management for its financial problems. Two days earlier, KIT said it would restate its financial results because of accounting errors. The stock lost $1.33, or 64.3 percent, to 74 cents.
Among tech’s big gainers:
— Research in Motion Ltd. jumped on growing optimism for an earlier-than-expected launch of its delayed BlackBerry 10 smartphone. A senior executive from the Canadian company said earlier this month that Research In Motion, or RIM, will release the latest version of its smartphone ‘‘not long after’’ a Jan. 30 event. One analyst saw that as an indication that the products are to be unveiled in February. U.S.-traded shares of RIM rose $1.40, or 13.7 percent, to $11.66.
— Dell rose 49 cents, or 5.4 percent, to $9.55.
— HP added 50 cents, or 4.2 percent, to $12.44.
— AMD rose 8 cents, or 4.3 percent, to $1.95.
Daniel Wagner can be reached at www.twitter.com/wagnerreports.