Editor’s Note: Related tickers: BlackBerry Ltd (NASDAQ:BBRY)
BlackBerry shares slip as pension funds cool on buyout (TheGlobeAndMail)
Shares of BlackBerry Ltd (NASDAQ:BBRY) slipped today, partly reversing yesterday’s run-up as major Canadian pension funds cool to the idea of joining a buyout. The stock was down by about 5 per cent. The shares surged yesterday on a British report that Prem Watsa’s Fairfax Financial Holdings Ltd. was trying to bring the funds on board to take a run at the smartphone maker. Which is true. But, as The Globe and Mail’s Jacquie McNish reports, the major players aren’t on board given questions about BlackBerry’s financial future.
BlackBerry Plans to Lobby Government Over Foreign-Takeover Rules (Businessweek)
BlackBerry Ltd (NASDAQ:BBRY) is preparing to lobby the Canadian government over foreign-takeover issues amid investor concern that a domestic buyout of the struggling smartphone maker won’t happen. The company has registered to meet with lawmakers to discuss the Investment Canada Act, which sets rules for foreign acquisitions of local companies, according to federal lobbying documents. The government automatically reviews any takeover bid of more than C$344 million ($332 million).
NSA able to intercept BlackBerry e-mails: report (TheGlobeAndMail)
American and British eavesdropping spy agencies have developed extensive abilities to spy on smartphone communications, including the capacity to intercept BlackBerry e-mails and telephone conversations, according to a new report in the weekly Der Spiegel. The two signals-intelligence agencies spent years trying to hack BlackBerry phones, the Canadian-made devices which are famous for their tighter security features, Der Spiegel says, citing internal documents where analysts remarked “Champagne!” as they congratulated themselves after one key breakthrough in March 2010.
BlackBerry Refutes Story Of Laying Off Half Its Salesforce and 2 More Heavily Traded Stocks to Follow (WallStCheatSheet)
BlackBerry Ltd (NASDAQ:BBRY): Current price $10.94 Striking quickly to avert a very negative headline, BlackBerry has dismissed a report that it will eliminate one-half its sales force, through an e-mail to IBD. Senior Manager Lisette Kwong for BlackBerry corporate communications said that, “We did not cut half of our sales force. Instead, we are moving a small number of US-focused sales roles that were based in Canada to the US to be more closely aligned with our customers. This is part of the second phase of our transformation plan.” The previous report indicated that BlackBerry had laid off over half its sales force, during weak smartphone sales, and rumors of a suitor for the former tech star.
Oct launch? BlackBerry’s iPhone, Android app (Emirates247)
BlackBerry is soon to come to your iPhone and Android devices. Yes. It is expected that BlackBerry Ltd (NASDAQ:BBRY) could make the announcement as early as next month. In fact, BBM app for iPhone has already been submitted to Apple for approval more than two weeks ago. Reports quoted sources as saying that there are two minor glitches in the app that are being sorted out before it can be released. In his tweet, about three days ago, a BlackBerry staff, Alex Kinsella @alexkinsella, said “Just in case we forgot to mention, BBM for iPhone was submitted for review 2 wks ago.”