If you’re feeling good about the market, you’re not alone. Take my hand as we go over some of this week’s more uplifting headlines.
1. It’s BlackBerry picking season
Research In Motion Ltd (NASDAQ:BBRY) rarely makes the cut in this weekly column, so let’s lead with the smarpthone pioneer during this rare appearance.
It’s been two months since Research In Motion Ltd (NASDAQ:BBRY) unveiled its new operating system, but the flagship Z10 phone running BlackBerry 10 will finally hit stateside retailers as soon as the end of next week.
That’s not all.
Research In Motion Ltd (NASDAQ:BBRY) also revealed that one of its partners just placed an order for a million BlackBerry 10 smartphones. The company notes that this is the largest single purchase order in Research In Motion Ltd (NASDAQ:BBRY)’s history.
2. Satellite of love
Sirius XM Radio Inc (NASDAQ:SIRI) may be stickier than you think.
Speaking at the this week’s Piper Jaffray Technology, Media, and Telecommunications Conference, CFO David Frear was asked if the premium radio giant is losing customers to cars that provide seamless integration for smartphone owners through dashboard stereo systems.
The answer was surprising.
The conversion rate for Sirius XM Radio Inc (NASDAQ:SIRI) is actually higher in high-tech cars. Frear argues that the type of driver interested in a car with all of those tech toys is the type of person that is already consuming audio entertainment across several mediums. The appeal of Sirius XM’s premium content is greater than someone just buying a car.
In another piece of welcome news for the satellite radio provider, Lazard Capital Markets is increasing its estimates for the company. Lazard has a buy rating and a $4 price target on the shares.
3. Ringing the IPO bell
It’s been quiet on the debutante front, but the week’s lone IPO was a big winner.
Silver Spring Networks Inc (NYSE:SSNI), a provider of “smart grid” gear, priced 4.75 million shares at $17. It wasn’t enough. The stock popped 30% higher on its first day of trading.