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News Breaks
February 7, 2013
10:08 EDTBBRYBlackBerry advances after Wells Fargo ups to Outperform
Smartphone maker BlackBerry (BBRY) is climbing after Wells Fargo analyst Maynard Um upgraded the stock to Outperform from Market Perform in a note to investors earlier today. BlackBerry's gross margins should increase as it sells more devices that utilize its new BB10 operating system, the analyst believes. The stock's risk/reward ratio is positive at this time, as the shares already anticipate that BB10 will meet "some level of failure," Um wrote. Also upbeat on BlackBerry was Jefferies analyst Peter Misek. Most companies that have tested BlackBerry's new operating system for enterprises, BES 10, "seem truly impressed" by the product, wrote Misek after speaking with several of these companies. Moreover, he estimates that 20% of Fortune 500 companies are testing BES 10. Misek reported that half of the stores he contacted in Canada had sold out of BlackBerry's new Z10 smartphone. Larger stores received 30-100 of the devices, he added. Misek maintained a $19.50 price target and Buy rating on the shares. Meanwhile, BlackBerry announced that Richard Lynch, a former Verizon (VZ) Executive Vice President and Bert Nordberg, a former CEO of Sony Ericsson Mobile Communications, would join its board of directors. In mid-morning trading, BlackBerry climbed 50c, or 3%, to $16.55.
News For BBRY From The Last 14 Days
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February 5, 2016
13:47 EDTBBRYBlackBerry confirms job cuts in Waterloo, Sunrise, TechCrunch reports
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February 2, 2016
08:47 EDTBBRYBlackBerry initiated with a Buy at TD Securities
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January 29, 2016
09:02 EDTBBRYBlackBerry raises common share purchase program to 27M shares form 12M shares
BlackBerry announced that it received approval from the Toronto Stock Exchange to amend its current normal course issuer bid, or NCIB, in order to increase the maximum number of common shares that may be repurchased from 12M common shares, or 2.5% of the public float as at June 22, 2015, to 27M common shares, or 5.8% of the public float. The total public float on June 22, 2015 was 464.72M common shares. No other terms of the NCIB have been amended. BlackBerry also announced that it has entered into an automatic purchase plan with its designated broker to allow for purchases of up to 2.69M common shares in connection with the NCIB.

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