Tag Archives: BlackBerry

Don’t Buy BlackBerry Stock After Earnings Decline

Shares of BlackBerry  (BB) – Get BlackBerry Limited Report are not trading well on Friday, down about 11% on the day after the company reported earnings.

It comes on a tough day in the market, as the S&P 500 is caught in a three-day skid following a monstrous 11 day surge.

Given the trend of this stock though, it seems unlikely that the overall market’s performance would have much of an impact on this one.

While AMC Entertainment  (AMC) – Get AMC Entertainment Holdings, Inc. Class A Report and GameStop  (GME) – Get GameStop Corp. Class A Report have both been trading well lately — and the latter has been particularly good and now plans for a stock split — BlackBerry has not enjoyed the same ride as some of its other meme-stock peers.

BlackBerry stock is now down close to 20% from this week’s high and is down almost 30% so far for the year. Further, shares are down 67% from the 52-week high.

Now the worry becomes, will BlackBerry go on to make new 52-week lows?

Trading BlackBerry Stock

Daily chart of BlackBerry stock.

Chart courtesy of TrendSpider.com

As I look at the daily chart, I notice that BlackBerry stock has a real tendency to flip between support and resistance at certain levels.

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While that characteristic is not necessarily unique to BlackBerry, it’s quite pronounced in this case. Look at the way $9.50 went from support to resistance. The same thing has now happened with $8, which rejected the stock a few days ago.

Now rotating lower on a bearish earnings reaction, BlackBerry stock has gapped below the 10-day, 21-day and 50-day moving averages.

With the continued selling throughout the session, shares are also trading below the 61.8% retracement of the current range as well.

If the stock continues lower from here, it could have $6 written all over it.

That’s about where uptrend support (blue line) comes into play, while BlackBerry has posted significant bounces from the $5.80 to $5.90 area twice in the last two months. 

At this point, BlackBerry is not a stock I want to be long. Not only is it struggling fundamentally, but the technicals are not cooperating either. In fact, the technicals are bearish.

At a time where we have companies with bullish fundamentals and bullish technicals — or at least one of the attributes — why choose a stock with neither?

Back above today’s high could put an earnings gap-fill in play, but again, I’d rather look elsewhere for opportunities. If Blackberry is rebounding, there’s a good chance others are as well. 



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GameStop, Apple, BlackBerry and more

Check out the companies making headlines before the bell:

GameStop (GME) – GameStop plans to seek shareholder approval to boost the number of shares outstanding in order to enable a stock split. The videogame retailer is proposing an increase to 1 billion shares from 300 million. The stock surged 16.6% in the premarket.

Apple (AAPL) – J.P. Morgan Securities removed the stock from its “Analyst Focus List,” saying a moderation in consumer spending may limit benefits from the iPhone SE launch and the potential for upside in services revenue. However, the firm retained an “overweight” rating on the stock.

BlackBerry (BB) – BlackBerry earned an unexpected profit for its latest quarter, but the communications software company’s revenue fell below analyst forecasts. The revenue miss came as growth in its cybersecurity unit flattened. Shares slid 4.4% in premarket trading.

Wynn Resorts (WYNN) – The resort and casino operator’s stock added 1.6% in the premarket after Citi upgraded it to “buy” from “neutral.” Citi cites increasing clarity over regulations and licenses in Macau as well as an attractive valuation.

Li Auto (LI) – Li Auto rallied 6.6% in premarket trading after the China-based electric vehicle maker reported 31,716 vehicles deliveries in March, more than double the year-ago total.

Nio (NIO) – The China-based electric vehicle company Nio reported deliveries of 9,985 vehicles in March, an increase of 37.6% from a year ago. Nio shares jumped 5.8% in premarket trading.

Hycroft Mining (HYMC) – The small-cap mining company – best known for an investment from movie theater chain AMC Entertainment (AMC) – added 3% in the premarket after reporting a smaller-than-expected quarterly loss. AMC shares rallied 4.6%.

Poshmark (POSH) – The online clothing marketplace operator’s stock slid 2.2% in premarket trading after Stifel cut its rating to “hold” from “buy.” Stifel said the company faces numerous growth challenges despite healthy profit potential and a highly engaged user base.

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Tesla, Spotify, Netflix, Beyond Meat and more

The Spotify app on an iPhone.

Fabian Sommer | picture alliance | Getty Images

Stock picks and investing trends from CNBC Pro:

Intuitive Surgical – Shares of Intuitive Surgical rose 3.5% after Piper Sandler on Monday upgraded the medical stock to overweight from neutral. The firm said the “recent pullback offers investors an attractive entry point into a premier medtech name.”

Align Technology — Shares of the dental company popped more than 7% in midday trading after Morgan Stanley initiated coverage of Align Technology as overweight. “ALGN is well positioned in the fastest-growing segment of the Dental market with its leading position in clear aligners,” the firm said. The bank gave the stock a $575 per share price target.

Kellogg — Shares of the food company ticked 2.8% lower in midday trading after BMO downgraded Kellogg to market perform from outperform. The Wall Street firm said that it sees cereal “challenges” ahead.

Enphase Energy — Enphase Energy shares surged 10% after the company, which makes microinverters and backup energy storage for solar systems, announced an expansion of battery storage in Massachusetts.

Citrix Systems — Citrix shares fell 3.7% after reports that the cloud-computing company will be taken private in an all-cash deal worth $16.5 billion, including debt. Vista Equity Partners and an affiliate of Elliott Management are acquiring Citrix for $104 per share, according to The Wall Street Journal.

BlackBerry – BlackBerry shares added 4.7% after the communications software company announced a deal to sell its legacy patents for $600 million. The noncore patent assets include mobile devices, messaging and wireless networking. Catapult, a special purpose vehicle, was formed to acquire the BlackBerry patents.

Otis Worldwide – Shares of the elevator company rose more than 2% after Otis reported 72 cents in earnings per share for the fourth quarter, four cents ahead of estimates, according to Refinitiv. The company missed on revenue estimates but said it expected sales and operating margins to grow in 2022.

Walgreens – Walgreens shares dipped about 2% after Bloomberg reported the company has started the sales process for its Boots international drugstore unit. Additional buyout firms, such as Sycamore Partners, are reportedly considering bids.

— CNBC’s Yun Li, Tanaya Macheel, Margaret Fitzgerald and Jesse Pound contributed reporting

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Classic BlackBerry phones will stop working January 4

On Tuesday, the company will stop running support for its classic devices running BlackBerry 10, 7.1 OS and earlier. This means all of its older devices not running on Android software will no longer be able to use data, send text messages, access the internet or make calls, even to 911.
While most mobile users have moved on from BlackBerry — the last version of its operating system launched in 2013 — the decision to discontinue support for its phones represents the end of what was once considered bleeding-edge technology.
The company originally announced the news in September 2020 as part of its efforts to focus on providing security software and services to enterprises and governments around the world under the name BlackBerry Limited.
BlackBerry (BB) has been mostly out of the phone business since 2016, but over the years it continued to license its brand to phone manufacturers, including TCL and more recently OnwardMobility, an Austin, Texas-based security startup, for a 5G Blackberry device running on Android software. (BlackBerry’s Android devices are not affected by the end of service.)

BlackBerry’s old school cell phones with physical keyboards from the late 1990s and early 2000s were once so popular people nicknamed them “CrackBerries.” The keyboard appealed to professionals who wanted the flexibility of working outside the office with some of the tools they used on a desktop computer.

The devices became a status symbol and fixture for people on Wall Street, celebrities like Kim Kardashian, and even former President Barack Obama, thanks in part to its great reputation for security. At its peak in 2012, BlackBerry had more than 80 million active users.

The company got its start in 1996 as Research In Motion with what it called two-way pagers. Its first gadget, the “Inter@ctive Pager,” allowed customers to respond to pages with a physical keyboard, a kind of text messaging/email hybrid. Three years later, RIM introduced the BlackBerry name with the BlackBerry 850.

Eventually, BlackBerry phones gained support for email, apps, web browsing and BBM, an encrypted text messaging platform that predated WhatsApp and survived long after BlackBerry was surpassed by its rivals.

But Apple’s touchscreen revolution with the iPhone in 2007 made BlackBerry’s offerings appear lacking. It tried touch screens and slide-out keyboard models, with little success. It developed a few phones with no physical keyboard, but those were missing BlackBerry’s key differentiator: its tactile keyboard.

BlackBerry eventually gave up on its own software, embracing Android and layering its security software on top. It found some success in enterprise security software and automotive software.

Although TCL stopped making devices with the BlackBerry name in 2020, some fans are holding out for the arrival of OnwardMobility’s BlackBerry 5G device, which was originally expected to launch in 2021. Despite the delay, its website still features a banner that says “coming 2021.”

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BlackBerry Ends Service; Devices Will Stop Working January 4

To legions of executives, journalists and politicians — even the leader of the free world — they were once-indispensable devices for staying connected when ordinary cellphones wouldn’t suffice. Anything else was for amateurs.

The devices, with the quirky-sounding name BlackBerry and the QWERTY keyboard that conditioned many people to type with their thumbs, were more ubiquitous than iPhones during the late 2000s.

But as of Tuesday, Blackberry models that use the company’s operating systems will go the way of the Commodore computer and the LaserDisc. So will their trademark trackballs and Tic Tac-sized letter keys.

As part of an “end of life” decommissioning program that was initially announced in 2020, BlackBerry said that as of Jan. 4, 2022, it would no longer support the devices as the Canadian company completes its yearslong shift from making mobile phones to a software-based business model.

For some, the deadline represents a wistful conclusion to an era before touch screens, Apple Pay and TikTok, when BlackBerries dominated offices, airport lounges and the West Wing.

President Barack Obama famously clung to his BlackBerry after taking office, prompting the White House to strip it down for security reasons.

Kevin Michaluk, the founder of CrackBerry, a website and forum dedicated to the once-popular devices, waxed nostalgic on Monday about the rise and fall of the technology. In 2016, BlackBerry abandoned making phones, devices that the company, previously named Research in Motion, had come to define.

“The initial sadness for me has been lived several times,” said Mr. Michaluk, who uses the nickname CrackBerry Kevin. “To use my real name, people don’t know who the hell I am.”

Mr. Michaluk, 41, who lives in Winnipeg, Manitoba, said that BlackBerry devices, featuring model names like the Curve, Bold, Storm and Pearl, enhanced productivity without all of the distractions that come with iPhones.

“It feels like they’re causing A.D.D. for most of us, rather than productivity right now,” he said of iPhones. “We went from analog phones to the pendulum swinging too far. You can’t actually get anything done on it because you’re constantly bombarded by sensory overload.”

In a message posted on its website on Dec. 22, BlackBerry reminded users that devices running legacy services over cellular networks or WiFi would no longer be able to receive or send text messages or other data, make phone calls or contact 911.

The company, which thanked its users for their loyalty over the years, did not immediately comment further on Monday.

On its website, the company pointed out that Android-powered models like the BlackBerry KEY2, which was manufactured by the Chinese company TCL under a partnership that ended in 2020, would not be affected by the change.

That might come as a relief to Carrie Bradshaw, Sarah Jessica Parker’s character in “And Just Like That,” the reboot of “Sex and the City,” who uses a BlackBerry KEY2.

Few people came to be more synonymous with BlackBerry than did Mr. Obama, whose reliance — ahem, addiction — to his mobile device presented a conundrum when he was elected to the presidency in 2008.

Writing in his 2020 memoir, “A Promised Land,” Mr. Obama recalled, “My team did throw me one bone when it came to freedom: I was able to keep my BlackBerry — or, rather, I was given a new, specially modified device, approved only after several weeks of negotiations with various cybersecurity personnel.”

Mr. Obama said that he could send or receive emails only from a list of 20 or so vetted contacts on his BlackBerry, which had its headphone jack and microphone removed and did not work as a phone.

“Michelle joked that my BlackBerry was like one of those play phones you give toddlers,” he said, “where they get to press buttons and it makes noises and things light up but nothing actually happens.”

Adam Matlock, 37, who runs TechOdyssey, a technology review channel on YouTube, said on Monday that he received many messages from BlackBerry users expressing concerns about no longer being able to use the devices.

“They’ve been holding onto it for so long because there’s no replacement,” he said. “I always felt like BlackBerries, they were special because they had a keyboard and were not trying to be another phone with a touch screen.”

Even if BlackBerry didn’t decommission its older devices, Mr. Matlock said, they would be virtually impossible to run once major wireless carriers like Verizon, AT&T and T-Mobile phase out 3G technology during the next few years.

“I think it’s unfortunate that they’re ending support for it,” he said. “I understand the decision because the platform itself is pretty much obsolete at this point.”

Mr. Matlock, who lives in Houston, keeps some of his vintage devices in his office, he said, like the BlackBerry 7100g.

“They always felt kind of special to me,” he said.

Mr. Michaluk, or Crackberry Kevin, said his favorite model was the BlackBerry Bold 9000 because it had leather on the back.

“I have a little shelf with a little kickstand that it leans against,” he said. “Let’s call it a tasteful shrine.”

One of the first models that he owned was the BlackBerry 8700, which had a jog wheel on the side that let users scroll through menus and messages.

“It was a little tank,” he said. “You could throw the thing across the room like a baseball, and it would keep working.”

Mr. Michaluk now uses an iPhone.

“I’m now OK with that,” he said.

William Lamb contributed reporting.

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Classic BlackBerry devices to stop working normally Tuesday

BlackBerry will discontinue service for its classic devices on Tuesday, the company reminded users in a statement.

BlackBerry reminded its users in the statement, which was posted Dec. 22, of the impending shutdown of so-called legacy services.

“As a reminder, the legacy services for BlackBerry 7.1 OS and earlier, BlackBerry 10 software, BlackBerry PlayBook OS 2.1 and earlier versions, will no longer be available after January 4, 2022,” the statement reads.

The shutdown means the phones will no longer reliably function for “data, phone calls, SMS and 9-1-1 functionality,” BlackBerry said.

BlackBerry, which has moved away from phones to become a software company that focuses on providing “intelligent security software and services to enterprises and governments,” originally announced in September 2020 that it would be discontinuing its phone service.

BlackBerry phones were once status symbols among celebrities and CEOs and permeated many facets of pop culture. The brand peaked in 2012, but as technology moved away from the external keyboard of the BlackBerry and toward the full screen of the smartphone, so too did pop culture.

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Classic BlackBerry phones will stop working January 4

Starting Tuesday, January 4, the company will stop running support for its classic devices running BlackBerry 10, 7.1 OS and earlier. This means all of its older devices not running on Android software will no longer be able to use data, send text messages, access the internet or make calls, even to 911.
While most mobile users have moved on from BlackBerry — the last version of its operating system launched in 2013 — the move to discontinue support for its phones represents the end of what was once considered bleeding-edge technology.
The company originally announced the news in September 2020 as part of its efforts to focus on providing security software and services to enterprises and governments around the world under the name BlackBerry Limited.
BlackBerry (BB) has been mostly out of the phone business since 2016, but over the years it continued to license its brand to phone manufacturers, including TCL and more recently OnwardMobility, an Austin, Texas-based security startup, for a 5G Blackberry device running on Android software. (BlackBerry’s Android devices are not affected by the end of service.)

BlackBerry’s old school cell phones with physical keyboards from the late 1990s and early 2000s were once so popular people nicknamed them “CrackBerries.” The keyboard appealed to professionals who wanted the flexibility of working outside the office with some of the tools they used on a desktop computer.

The devices became a status symbol and fixture for people on Wall Street, celebrities like Kim Kardashian, and even President Barack Obama, thanks in part to its great reputation for security. At its peak in 2012, BlackBerry had more than 80 million active users.

The company got its start in 1996 as Research In Motion with what it called two-way pagers. Its first gadget, the “Inter@ctive Pager,” allowed customers to respond to pages with a physical keyboard, a kind of text messaging/email hybrid. Three years later, RIM introduced the BlackBerry name with the BlackBerry 850.

Eventually, BlackBerry phones gained support for email, apps, web browsing and BBM, an encrypted text messaging platform that predated WhatsApp and survived long after BlackBerry was surpassed by its rivals.

But Apple’s touchscreen revolution with the iPhone in 2007 made BlackBerry’s offerings appear lacking. It tried touch screens and slide-out keyboard models, with little success. It developed a few phones with no physical keyboard, but those were missing BlackBerry’s key differentiator: its tactile keyboard.

BlackBerry eventually gave up on its own software, embracing Android and layering its security software on top. It found some success in enterprise security software and automotive software.

Although TCL stopped making devices with the BlackBerry name in 2020, some fans are holding out for the arrival of OnwardMobility’s BlackBerry 5G device, which was originally expected to launch in 2021. Despite the delay, its website still features a banner that says “coming 2021.”

CNN Business’ Dave Goldman contributed to this report.

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BlackBerry will die on January 4th — for real this time

Dear friends, we’re gathered here today to mourn the death of that once-beloved monarch of the mobile world: BlackBerry. And, yes, I realize that this is not the first time we’ve announced the death of the company or its devices (and, for reasons I’ll explain below, it likely won’t be the last) but this is a very definite ending for legacy BlackBerry hardware.

As of January 4th, any phones or tablets running BlackBerry’s own software — that’s BlackBerry 7.1 or earlier, BlackBerry 10, or its tablet operating system BlackBerry PlayBook — will “no longer reliably function,” says the company. Whether on Wi-Fi or cellular, there’ll be no guarantee you can make phone calls, send text messages, use data, establish an SMS connection, or even call 9-1-1. That sounds pretty darned dead to us.

If, for whatever inexplicable reason, you or someone you love is still using an original BlackBerry, then we recommend you make it a New Year’s resolution to pry it gently but firmly from their hands. From January 4th onwards, it’ll be little more than a paperweight. (Though BlackBerry devices running Android will continue to work as normal.)

An elegant phone for a more civilized age: the BlackBerry 8310.
Image: The Verge

As alluded to above, though, this might not be the last BlackBerry death we announce. The company has experienced a slow and torturous decline since its dominant era in the late 2000s, when its QWERTY keyboards and reputation for security gave it a 50 percent market share in the US, but such a storied brand has to be wrung for its last dregs of value. (Its parent company, BlackBerry Limited, has pivoted to selling cybersecurity software.)

BlackBerry tried to reboot itself in 2013 with a new OS, BlackBerry 10 (which failed), and in 2015 switched to making Android devices (which failed, too). Then, in 2016, it started licensing its brand to third-party manufacturers like TCL. This is still how the BlackBerry name lingers on, and in 2020, a Texas firm named OnwardMobility said it would be making a 5G Android-powered BlackBerry device with a full QWERTY keyboard to release in 2021.

Well, the clock is rather ticking on that one (OnwardMobility hasn’t shared any news or updates on its website since January 2021), but whether that particular effort lives or dies, it will at least give us a chance to gather again for another funeral. We really must get together some time under kinder circumstances. How are your aunt and uncle anyway?

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BlackBerry ends support for all its classic smartphones

iPhone today is considered one of the most popular smartphones on the market, but back in the 2000s, BlackBerry phones were probably one of the coolest devices anyone could get. Although the old BlackBerry phones are long gone, the company still offered support for them – but not anymore.

To officially put an end to an era, BlackBerry announced on Thursday (via ArsTechnica) it will end support for the classic BlackBerry smartphones that run BlackBerry OS and BlackBerry 10. The company warns customers who still use phones running such software that they will no longer receive any patches to ensure that the carrier or Wi-Fi connection remains functional.

As a result, even basic functions such as calls, cellular data, SMS, and emergency calls may stop working on BlackBerry phones. This, of course, does not affect BlackBerry smartphones that run Android. BlackBerry OS support will officially end on January 4, 2022.

As a reminder, the legacy services for BlackBerry 7.1 OS and earlier, BlackBerry 10 software, BlackBerry PlayBook OS 2.1 and earlier versions, will no longer be available after January 4, 2022.  As of this date, devices running these legacy services and software through either carrier or Wi-Fi connections will no longer reliably function, including for data, phone calls, SMS and 9-1-1 functionality.   

The “end” of BlackBerry after iPhone

The iPhone certainly changed the entire smartphone industry in 2007, but pretty much all phone makers at the time didn’t believe that Apple would have such an impact on the market.

When Apple announced the first iPhone, multiple executives from RIM (the company that created BlackBerry) made jokes about Apple’s smartphone as they thought consumers would never want a smartphone with a touch screen and a virtual keyboard.

Mike Lazaridis [BlackBerry’s founder] on the iPhone in November 2007: “Try typing a web key on a touchscreen on an Apple iPhone, that’s a real challenge. You cannot see what you type”

However, consumers really appreciated having a smartphone with a large touch screen. And while the iPhone became a huge worldwide success, BlackBerry’s market value only dropped considerably in the years after the introduction of the first iPhone, and the company eventually lost its relevance.

On the other hand, companies like Samsung quickly followed Apple’s path with touch screen smartphones to stay in the market. By the time BlackBerry decided to move on with its smartphones, it was too late.

And if you’re still using a classic BlackBerry phone in 2021, well, you’d better back up all your data as soon as possible. Let us know in the comments section below what you thought about BlackBerry and iPhone back then.

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BlackBerry OS devices are pretty much dead after January 4th

Pour one out for the BlackBerry, the former king of mobile. The company has announced that as of January 4th, classic devices running BlackBerry OS 7.1 or earlier, as well as OS 10, will lose key services. And by key, we mean absolutely crucial capabilities, like phone calls, texting, data and even emergency 9-1-1 access. You can also expect to have issues with Wi-Fi and apps like BlackBerry World and Desktop manager, Liliputing reports. January 4th will also mark the end for the PlayBook, the company’s ill-fated tablet.

Of course, none of this comes as a surprise. BlackBerry shut down its app store and its popular Messenger (BBM) service in 2019. There really was no coming back from that. If you’ll recall, the company was way too late to respond to the threat of the iPhone, and failed to find much success by adopting Android. At least it still has QNX, BlackBerry’s modern operating system that powers infotainment systems from Toyota, Audi, Honda, and plenty of other popular car makers.

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