Will BlackBerry See Its Stock Move Higher After Recent Headlines?
With shares of BlackBerry (NASDAQ:BBRY) trading around $8, is BBRY an OUTPERFORM, WAIT AND SEE, or STAY AWAY? Let’s analyze the stock with the relevant sections of our CHEAT SHEET investing framework:
T = Trends for a Stock’s Movement
BlackBerry is a designer, manufacturer, and marketer of wireless solutions for the worldwide mobile communications market. Through the development of integrated hardware, software, and services it provides platforms and solutions for seamless access to information such as email, voice, instant messaging, SMS, Internet, intranet-based applications, and browsing. Its products and services feature the BlackBerry wireless solution, the Research In Motion Wireless Handheld product line, the BlackBerry PlayBook tablet, software development tools, and other software and hardware.
BlackBerry named Eric Johnson to its top sales job, hiring one of Chief Executive Officer John Chen’s former colleagues to help the smartphone maker regain the confidence of customers. Johnson is coming to BlackBerry from SAP AG (NYSE:SAP), where he was a senior vice president in charge of the company’s global database and technology, according to a statement today. Johnson and Chen both joined SAP when it acquired their previous company, Sybase Inc., in 2010. Chen is reassembling much of the old team that helped him turn around Sybase’s fortunes, a feat he’s attempting to repeat at BlackBerry, which has lost market share to Apple Inc. and Samsung Electronics. In December, Chen appointed Mark Wilson, a former Sybase executive, to lead marketing, and he hired John Sims from SAP to take charge of the enterprise business. “The experience that the majority of the new leadership team has in working together previously will drive change within the organization at a faster pace,” Chen said in the statement. “I look forward to demonstrating these changes to the market.”