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Stock Market & Financial Investment News

News Breaks
March 4, 2014
10:39 EDTBBRYBlackBerry QNX platform powers Apple CarPlay, BGR reports
News For BBRY From The Last 14 Days
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September 4, 2015
16:13 EDTBBRYOn The Fly: Top stock stories for Friday
Stocks declined on Wall Street after the monthly nonfarm payrolls report simultaneously rose concerns about a slowdown in the world's biggest economy while not being bad enough to take the worries about the Federal Reserve raising rates this month off the table. With the U.S. market set to be closed on Monday, buyers seemed reluctant to step in and buy. China's markets will be open and investors may be fearful that headlines there could set the U.S. market up for another down day when investors return following the Labor Day holiday. ECONOMIC EVENTS: In the U.S., the government reported 173,000 nonfarm jobs were added in the U.S. in August, missing analysts' consensus projection that payrolls grew 217,000. The unemployment rate dipped more than expected to 5.1%, however. That fact as well as other underlying data in the report, such as the better than expected 0.3% growth in wages and the rise in full-time employment, appeared to leave investors fearing that the Fed will raise interest rates at the next Federal Open Market Committee meeting, which is scheduled for September 16-17. COMPANY NEWS: Shares of BlackBerry (BBRY) advanced in early trading after the mobile phone and software maker agreed to acquire rival Good Technology for $425M in cash, but the stock moved into the red in afternoon trading and closed down 13c, or 1.74%, at $7.33. The deal will expand BlackBerry's ability to offer a unified, secure mobility platform with applications for any mobile device on any operating system, the company stated, adding that it expects the deal to be accretive to earnings and cash flow within the first year after closing. MAJOR MOVERS: Among the notable gainers was Rayonier Advanced Materials (RYAM), which rose 8.57% to $6.97 after the stock was upgraded to Outperform at RBC Capital. Also rising following an analyst upgrade was SkyWest (SKYW), which gained 86c, or 5.34%, to $16.95 after Cowen upgraded the stock to Outperform and increased its price target for shares to $19 from $16. Among the noteworthy losers was Vince Holding (VNCE), which plummeted $4.06, or 43.74%, to $5.22 after the fashion brand owner cut its fiscal year adjusted earnings outlook and BofA Merrill Lynch downgraded the stock in response. Also lower following their own earnings reports were supply chain services company UTi Worldwide (UTIW), which fell 13% to $5.68, and IT software and services provider Infoblox (BLOX), which dropped 8% to $18.28. INDEXES: The Dow fell 272.38, or 1.66%, to 16,102.38, the Nasdaq lost 49.58, or 1.05%, to 4,683.92, and the S&P 500 dropped 29.91, or 1.53%, to 1,921.22.
12:25 EDTBBRYOn The Fly: Top stock stories at midday
Stocks on Wall Street were lower at midday after the government reported fewer than expected nonfarm jobs were added in the U.S. last month. The unemployment rate dipped more than expected to 5.1%, however, and that fact as well as other underlying data in the report appears to be leading investors to think that the Fed will raise interest rates later this month. The Federal Open Market Committee meets on September 16-17 and the central bank will decide at that meeting whether it is now time to hike interest rates for the first time in nearly ten years. ECONOMIC EVENTS: In the U.S., the government reported 173,000 nonfarm jobs were added in the U.S. in August, missing analysts' consensus projection that payrolls grew 217,000. The unemployment rate dipped to 5.1%, which was down from 5.3% previously and below the 5.2% consensus forecast. In Asia, Chinese markets were closed for a second day in a row for a holiday, but Japan's Nikkei and India's Sensex both slumped more than 2%. COMPANY NEWS: Shares of BlackBerry (BBRY) advanced 1.5% after the company agreed to acquire rival Good Technology for $425M in cash. The deal will expand BlackBerry's ability to offer a unified, secure mobility platform with applications for any mobile device on any operating system, the company stated, adding that it expects the deal to be accretive to earnings and cash flow within the first year after closing. MAJOR MOVERS: Among the notable gainers was Teekay Tankers (TNK), which gained more than 4% after UBS analyst Spiro Dounis double upgraded the stock to Buy from Sell and raised his price target for shares of the marine transportation provider to $7.25 from $6.75. Also higher was Dollar Tree (DLTR), which rose 2%, benefitting from an upgrade to Buy at Bank of America Merrill Lynch. The firm said it believes Dollar Tree's $300M synergy target for its Family Dollar acquisition looks conservative and believes integration benefits remain underappreciated by the market. Among the noteworthy losers following their earnings reports were Vince Holding (VNCE) and UTi Worldwide (UTIW), which fell 38% and 14%, respectively, after each lowered their fiscal year outlooks. INDEXES: Near midday, the Dow was down 271.38, or 1.66%, to 16,103.38, the Nasdaq was down 48.39, or 1.02%, to 4,685.11, and the S&P 500 was down 29.53, or 1.51%, to 1,921.60.
09:18 EDTBBRYOn The Fly: Pre-market Movers
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08:02 EDTBBRYBlackBerry to acquire Good Technology for $425M in cash
BlackBerry announced that it has entered into a definitive agreement to acquire Good Technology for $425M in cash. The acquisition of Good is aligned with BlackBerry's strategy to offer customers the most complete, end-to-end solution that secures the entire mobile enterprise, across all platforms. Enhanced by Good, BlackBerry will expand its ability to offer a unified, secure mobility platform with applications for any mobile device on any operating system - supported with security that has been certified by governments around the world embedded in every component of the mobility infrastructure. Good's technology will integrate with BlackBerry's enterprise portfolio and trusted global network, creating a comprehensive management solution for all mobile devices that protects customers' security and privacy. This holistic experience will provide customers with greater mobile enterprise productivity, including seamless integration of capabilities across multiple applications, including BBM, WatchDox, Good Work and other value added services. BlackBerry expects the transaction to be completed toward the end of the company's Q3 of FY16 and is subject to customary closing conditions, including regulatory approvals. The company anticipates the acquisition to be accretive to earnings and cash flow within the first year after closing. BlackBerry also expects to realize approximately $160M in GAAP revenue from Good in the first year, including the impact of an expected write-down of certain deferred revenue of Good.
08:01 EDTBBRYBlackBerry to acquire Good Technology for $425M in cash
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September 3, 2015
04:50 EDTBBRYStocks with implied volatility above IV index mean; AMBA BBRY
Stocks with implied volatility above IV index mean; Ambarella (AMBA) 80, BlackBerry (BBRY) 62 according to iVolatility.
September 2, 2015
05:23 EDTBBRYStocks with implied volatility above IV index mean; AMBA BBRY
Stocks with implied volatility above IV index mean; Ambarella (AMBA) 88, Cablevision (BBRY) 65 according to iVolatility.

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