BlackBerry's (BBRY) Q2 Report Comes in Surprisingly Positive
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BlackBerry (BBRY) PT Slashed to $7 at Canaccord Genuity
September 30, 2013 8:58 AM EDTCanaccord Genuity analyst Michael Walkley reiterated a Hold on BlackBerry (NASDAQ: BBRY) and lowered his price target from $9 to $7 on a lower sum-of-the parts valuation.
"Given the growing Bring Your Own Device trend, we view a healthy consumer smartphone business as paramount for a sustainably... More
Sudden Deterioration in BlackBerry (BBRY) Demand Tied to Potential Sale - Goldman
September 30, 2013 7:56 AM EDTGoldman Sachs maintained a Neutral rating on BlackBerry (NASDAQ: BBRY) and lowered its price target to $9.00 (from $10.00). Analyst Simona Jankowsk thinks BlackBerry's announcement that it was exploring strategic alternatives effected performance late in the quarter.
"There was material deterioration in several balance... More
Lack of M&A Options Puts BlackBerry's (BBRY) Back Against the Wall
September 30, 2013 7:19 AM EDTBlackBerry (Nasdaq: BBRY) has a catch 22 scenario when it comes to finding a potential buyer.
Last week, BlackBerry and Fairfax Financial Holdings entered a letter of intent (LOI) for Fairfax to acquire BlackBerry at $9 per share. Nothing about the agreement was... More
BlackBerry (BBRY) Posts Q2 adj.-Loss of 47c/Share
September 27, 2013 7:01 AM EDTBlackBerry (Nasdaq: BBRY) reported Q2 EPS of ($0.47), versus the analyst estimate of ($0.49). Revenue for the quarter came in at $1.6 billion versus the consensus estimate of $1.62 billion.
During the second quarter the company recognized hardware revenue on approximately 3.7 million BlackBerry smartphones. Most of the units recognized are BlackBerry 7 devices, in part because certain BlackBerry 10 devices that were... More
BlackBerry Limited (BBRY) Signs LOI with Fairfax; Deal Valued at $4.7B, $9/sh
September 23, 2013 1:32 PM EDTBlackBerry Limited (NASDAQ: BBRY) today announced it has signed a letter of intent agreement ("LOI") under which a consortium to be led by Fairfax Financial Holdings Limited ("Fairfax") has offered to acquire the company subject to due diligence.
The letter of intent contemplates a transaction in which BlackBerry shareholders would receive U.S. $9 in cash for each share of BlackBerry share they hold, in a transaction valued at approximately U.S. $4.7 billion. The consortium would acquire for cash all of the outstanding shares of BlackBerry not held by Fairfax. Fairfax, which owns approximately 10... More
Jabil Circuit (JBL) Pressured as BlackBerry (BBRY) Outlook Weighs
September 20, 2013 3:35 PM EDTJabil Circuit (NYSE: JBL) stock was pressured on Friday after BlackBerry (Nasdaq: BBRY) issued Q3 outlook that was well below consensus.... More
BlackBerry (BBRY) Updates Outlook: Sees Wider than Expected Q2 Loss; Will Cut 4,500 Jobs
September 20, 2013 3:16 PM EDTBlackBerry (Nasdaq: BBRY) reports preliminary Q2 results:
-- Company expects GAAP net operating loss of approximately $950 million to $995 million; loss includes a primarily non-cash, pre-tax inventory charge of approximately $930 million to $960 million resulting from the increasingly competitive business environment impacting BlackBerry smartphone volumes, and a pre-tax restructuring charge of $72 million
-- Company expects to report revenue for the second quarter of approximately $1.6 billion; recognizes sales of approximately 3.7 million smartphones in the second quarter
-- Company to refocus on enterprise and prosumer market, offering end-to-end solutions, including hardware, software and services... More
More Write-Downs Expected for BlackBerry (BBRY) as Inventory Nears $1B Level
September 19, 2013 8:17 AM EDTBlackBerry Ltd. (Nasdaq: BBRY) is looking at the fourth inventory write-down in just two-years as more and more of its handsets go unsold.
Bloomberg sees BlackBerry's smartphone mark approaching the $1 billion mark, which increases the odds of another adjustment.... More
