Cisco Systems downgraded to equal weight at Morgan Stanley

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BlackBerry names former Cisco exec Bryan Palma as COO and president

BlackBerry Ltd. said Monday it has named Bryan Palma, Cisco’s senior vice president and general manager of customer experience for the Americas, as its new chief operating office and president. Palma has nearly 20 years experience at big U.S. companies, including Boeing , Hewlett Packard , PepsiCo and the U.S. Secret Service, the company said in a statement. The new appointment is effective immediately and will has Palma responsible for core product and services that serve as the foundation for a strategy of securing the Enterprise of Things, the company said in a statement. Shares were not yet active premarket, but have fallen 39.7% in the last 12 months, while the S&P 500 has fallen 7.2%.

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