Research In Motion, maker of the BlackBerry smartphone, pared gains after analysts said a buyout is unlikely.

As long as co-CEOs Jim Balsillie and Mike Lazaridis keep telling investors they’re determined to engineer a recovery by themselves, buyers will be wary, said Stuart Jeffrey, a Nomura Securities analyst.

RIM rose 10 percent to $13.78, after touching $14.14 earlier in the day.