Blackberry to be sold

Blackberry to be sold

TORONTO

BlackBerry has agreed to sell itself for $4.7 billion to a group led by its largest shareholder, Fairfax.

BlackBerry said Monday that a letter of intent has been signed, and its shareholders will receive $9 in cash for each share.

Trading of the company’s stock was halted ahead of the news. BlackBerry shares plunged after the company announced Friday a loss of nearly $1 billion and layoffs of 4,500 workers.

Record iPhone sales

Cupertino, calif.

Apple announced Monday that it has sold 9 million new iPhone 5S and iPhone 5C units since Friday, shattering a record set last year.

Apple sold 5 million units of the iPhone 5 during the first weekend of September 2012.

This was the first year the new iPhones also were available the same weekend in China. The iPhone 5 did not go on sale in China until December 2012, when it sold 2 million units during its first weekend.

Blowing past that record of 7 million sales for the combined first weekends exceeds nearly every analyst’s projection.

Anti-fracking proposal off ballot

athens, ohio

The fall ballot in one southeastern Ohio city won’t include an initiative seeking to ban fracking.

The Athens County Board of Elections rejected the ballot initiative without elaborating, and supporters of the proposal say it’s too late to make the Nov. 5 ballot.

The proposal would have banned such drilling and related waste-disposal work in Athens, which is home to Ohio University.

Similar bans are slated to be on fall ballots in Youngstown and Bowling Green.

Allegiant cancels more flights

las vegas

Allegiant Air told passen-gers that 12 flights were canceled Monday while it continues to overhaul emergency slides on its fleet of MD-80 aircraft.

The cancelations involved six routes. Allegiant provides the only scheduled flight service from the Youngstown-Warren Regional Airport, but no flights have been canceled or delayed there.

Allegiant began overhauling slides on 52 aircraft last week after the emergency evacuation of a Sept. 16 Allegiant flight in Las Vegas. No one was hurt.

Chrysler IPO

detroit

Chrysler Group is preparing an initial public offering of some of its shares.

Chrysler filed paperwork for the IPO with the federal government Monday.

Chrysler shares haven’t been publicly traded since 1998, when the company merged with Daimler AG. It is now majority owned by Italian automaker Fiat SpA.

The number of shares and the offering price haven’t been determined, but Chrysler set a maximum proposed offering price of $100 million.

Vindicator staff/wire reports

Selected local stocks

STOCK, DIVIDENDCLOSECHANGE

Aqua America, .61, 24.62 .34

Avalon Holdings,5.32—.18

Clear Channel, .61 26.82 .13

Cortland Bancorp, 9.40.00

Farmers Nat., .126.20 .00

First Energy, 2.20, 37.64.98

FirstMerit Corp., .64,20.94 .07

First Niles Financial, .32,7.00.40

First Place Fin., .0022.00

FNB Corp., .48,12.09—.05

General Motors,37.13.30

General Electric, .76,24.28.27

Motors Liquidation, .0422.00

Huntington Bank, .20, 8.24—.14

JP Morgan Chase, 1.52,51.46—1.34

Key Corp, .22,11.37—.20

LaFarge, 17.73 —.17

Macy’s, 1.00, 44.69.07

Parker Hannifin, 1.80, 106.35—1.19

PNC, 1.76,72.96—1.09

RTI Intl. Metals,32.38.38

Simon Prop. Grp.,4.60,151.29.29

Stoneridge 11.16 —.24

United Community Fin. 3.94.03

Selected prices at 4 p.m. Monday. Provided by Stifel Nicolaus. Not to be construed as an offer or recommendation to buy or sell any security.