BlackBerry’s Annual Meeting
BlackBerry Ltd (NASDAQ:BBRY) is in the spotlight today because it is holding its annual general meeting this morning. Shareholders will likely ask tough questions about the company’s hardware business, which has struggled of late. The Priv, Blackberry’s first Android-powered smartphone, has failed to achieve traction and Blackberry’s shares are down by 24% year-to-date. Some investors hope Blackberry will just liquidate itself, while others hope the company will focus more on its higher margin software and services segment. Blackberry is also trending because it is expected to report its first-quarter results tomorrow. Among the funds we track, 24 funds had a long position in BlackBerry Ltd (NASDAQ:BBRY) at the end of March, unchanged from the previous quarter.
Merger Judge Focuses on ‘Good Faith’ Element
Energy Transfer Equity LP (NYSE:ETE) and Williams Companies Inc (NYSE:WMB) are trending again after Delaware Chancery Court Judge Sam Glasscock said that it matters if Energy Transfer’s lawyer’s findings that the merger can’t close due to tax issues ‘was made in good faith’. Glasscock’s comments were seen as positive for Energy Transfer as shares of the company surged 17% yesterday. It is typically difficult to prove that lawyers are not acting in good faith on an issue. If the merger doesn’t go through, Energy Transfer would save itself from having to pay $6 billion in cash to Williams shareholders. A total of 31 funds from our database had a bullish position in Energy Transfer Equity LP (NYSE:ETE) and 52 top funds were long Williams Companies Inc (NYSE:WMB) at the end of March.