Shares of RadioShack (NYSE: RSH ) fell by more than 20% during Thursday’s intra-day trading, after reports surfaced saying the electronics retailer is considering hiring a financial advisor to help fix its balance sheet. By the end of the day, however, the stock did manage to recoup the majority of its losses to close down just 7%.
Cash and debt and inventories… oh my!
To be sure, on one hand, an April SEC filing showed RadioShack had around $820 million in total liquidity at the time, including $435 million in cash, and $385 million in available credit under an asset-based revolving credit facility that expires in January, 2016.
On the other hand, the filing also stated RadioShack had $712 million in total debt at the end of last quarter, including more than $216 million in convertible notes coming due on August 1, 2013, which is just over two weeks from now. Meanwhile, the balance of the debt will come due between 2016 and 2019.
Of course, that wouldn’t necessarily be a huge problem if RadioShack didn’t make it a habit of repeatedly turning in sub-par earnings reports. Last quarter, for instance, RadioShack’s revenue fell 7%, to $849 million — missing analysts’ expectations for sales by more than $100 million — as same-store sales decreased 5.7%.
Hot Tech Stocks For 2014: Progress Software Corporation(PRGS)
Progress Software Corporation operates as an enterprise software company worldwide. Its products include Progress OpenEdge platform, which offers development tools, application servers, application management tools, and an embedded database; Progress Orbix to address enterprise integration problems with standards-based solutions; and Progress ObjectStore, an object data management system to store data faster than relational database management system or file-based storage system. The company?s products also comprise Progress Responsiveness Process Management suite for business users; Progress Control Tower, an interactive business control panel; Progress Sonic, which comprises an enterprise messaging system and the enterprise service buses; Progress Actional that provides operational and business visibility, root cause analysis, and policy-based security and control of services; Progress Apama, which offers tools for creating, testing, and deploying strategies for applicat ions, including algorithmic trading, market aggregation, smart order routing, market surveillance and monitoring, and risk management; Progress Savvion BusinessManager, a business process management software; and Fuse products that provide customers with access to professional open source integration and messaging software. In addition, it offers Progress DataDirect Connect products, which provide data connectivity components; Progress DataDirect Shadow to provide foundation architecture for standards-based mainframe integration; and Progress Data Services product set that offers data integration for distributed applications. Further, the company provides maintenance, consulting, training, and customer support services. Progress Software Corporation sells its products to independent software vendors, original equipment manufacturers, and system integrators through direct sales force and independent distributors. The company was founded in 1981 and is based in Bedford, Massa c husetts.
- [By John Kell and Lauren Pollock var popups = dojo.query(“.socialByline .popC”); ]
Progress Software Corp.’s(PRGS) fiscal first-quarter profit fell 64% as the business-software provider’s revenue slipped due to the timing of certain deal closures.
- [By Jake L’Ecuyer]
Progress Software (NASDAQ: PRGS) shares tumbled 11.15 percent to $22.82 after the company issued a weak Q1 forecast.
FireEye (NASDAQ: FEYE) was also down, falling 9.35 percent to $81.20 after the company’s secondary offering lead to fear on the street.
- [By Jake L’Ecuyer]
Progress Software (NASDAQ: PRGS) shares tumbled 10.11 percent to $22.82 after the company issued a weak Q1 forecast.
21Vianet Group (NASDAQ: VNET) was down, falling 6.18 percent to $25.94 on Q4 results.
Hot Tech Stocks For 2014: Molex Incorporated(MOLX)
Molex Incorporated, together with its subsidiaries, engages in the design, manufacture, and sale of electronic components worldwide. It offers micro-miniature connectors, B-to-B connectors, SIM and SD card sockets, keypads, electromechanical subassemblies, internal and on-ground antennas, standard antennas, magnetic jacks, and subsystems for the telecommunications market; and power, optical, and signal connectors and cables for end-to-end data transfer, linking disk drives, controllers, servers, switches, and storage enclosures for the info-tech market. The company also designs and manufactures connectors for home and portable audio, digital still and video cameras, DVD players, and recorders, as well as devices that combine multiple functions in the consumer market, earphones, jumpers, and components for gaming machines. In addition, it provides network interface cards, software for industrial networks, cord sets, electrical solutions, and I/O connectors for industrial pr oduction equipment, as well as portable lighting to power distribution solutions for commercial construction, utility, petrochemical, and food and beverage industries; and cable assemblies, sealed and panel mount connectors, and other products for use in the infotainment and navigation, powertrain, safety and chassis, and body electronics in the automotive market. Further, the company offers connectors and custom integrated systems for diagnostic and therapeutic equipment used in hospitals, including x-ray, magnetic resonance imaging, and dialysis machines; and solid-state lighting products. Additionally, it provides manufacturing services to integrate specific components into a customer?s product. The company sells its products directly to original equipment manufacturers, contract manufacturers, and distributors. It markets its products through direct sales force and a network of distributors. Molex Incorporated was founded in 1938 and is based in Lisle, Illinois.
- [By Seth Jayson]
Molex (Nasdaq: MOLX ) reported earnings on April 23. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q3), Molex missed estimates on revenues and missed estimates on earnings per share.
- [By Ben Levisohn]
Competitor AVX Corp. (AVX) has gained 1.1% to $12.96, while Molex (MOLX) has dropped 0.2% to $29.28 and Amphenol (APH) has ticked up 0.3% to $76.32.
- [By Alexis Xydias]
Molex (MOLX) soared 32 percent to $38.63 for the largest increase in the S&P 500. The maker of electronic components for products such as Apple’s iPhone agreed to a $7.2 billion acquisition by Koch Industries, the holding company controlled by the billionaire Koch brothers.
Hot Tech Stocks For 2014: DST Systems Inc. (DST)
DST Systems, Inc. provides information processing and software services and products. The company operates in two segments, Financial Services and Customer Communications. The Financial Services segment offers various solutions primarily to the asset management, brokerage, retirement, insurance, and healthcare industries. It provides proprietary software systems, including shareowner recordkeeping and distribution support systems for the United States and international mutual fund companies, broker/dealers, and financial advisors; and a defined-contribution participant recordkeeping system for the United States retirement plan market. This segment also offers investment management systems for the United States and international investment managers and fund accountants; a business process management and customer contact system for various industries; and medical and pharmacy claims administration processing systems and services for providers of healthcare plans, third party administrators, medical practice groups, and pharmacy benefit managers. The Customer Communications Segment helps businesses deploy customer communications while improving operational performance across critical business functions, such as sales, marketing, customer service, technology, finance, operations, and compliance. This segment helps clients deliver information in the desired combination of print, digital, and archival formats. Its product offering combines data insights and analysis with business decision-making tools, and multi-channel execution and delivery designed to help businesses acquire, grow, retain, and win back customers. The company also owns and operates real estate properties, as well as has investments in equity securities, private equity funds, and other financial interests. It has operations in the United States, the United Kingdom, Canada, Australia, and internationally. DST Systems, Inc. was founded in 1968 and is based in Kansas City, Missouri.< /p> Advisors’ Opinion:
- [By Rich Duprey]
Data center operator DST Systems (NYSE: DST ) will pay a second-quarter dividend of $0.30 per share, the same rate it paid last quarter after switching from a semiannual payout schedule to a quarterly one, the company announced yesterday.
Hot Tech Stocks For 2014: RF Micro Devices Inc.(RFMD)
RF Micro Devices, Inc. designs, develops, manufactures, and markets radio frequency (RF) components and compound semiconductor technologies in the United States and internationally. Its products enable mobility, as well as provide connectivity and support functionality in the cellular handsets, wireless infrastructure, wireless local area networks, cable television /broadband, Smart Energy/advanced metering infrastructure, and aerospace and defense markets. The company offers products that range from single-function components to highly integrated circuits and multi-chip modules (MCMs). Its integrated circuit products include gain blocks, low noise amplifiers, power amplifiers (PAs), receivers, transmitters, transceivers, modulators, demodulators, attenuators, switches, frequency synthesizers, and voltage-controlled oscillators (VCOs); MCM products consist of PA modules, switch-filter modules, active antenna products, VCOs, phase-locked loops, coaxial resonator oscillators , active mixers, variable gain amplifiers, hybrid amplifiers, power doublers, and optical receivers; and passive components consist of splitters, couplers, mixers, and transformers, as well as isolators and circulators. The company markets its products to original equipment manufacturers and original design manufacturers. RF Micro Devices, Inc. was founded in 1991 and is headquartered in Greensboro, North Carolina.
- [By Lisa Levin]
RF Micro Devices (NASDAQ: RFMD) shares reached a new 52-week high of $7.24 after Bank of America upgraded the stock from Underperform to Buy and lifted the price target from $5.50 to $10.
- [By MONEYMORNING]
Chipmaker Surges: We urged you buy shares of RF Micro Devices Inc. (Nasdaq: RFMD) in a report back on Dec. 26, reasoning that the maker of the so-called “radio-frequency” chips used in smartphones and other devices was poised for a rebound.
Hot Tech Stocks For 2014: Cavium Networks Inc.(CAVM)
Cavium, Inc. designs, develops, and markets semiconductor processors for intelligent and secure networks. Its semiconductor products enable customers to develop networking, wireless, storage, and electronic equipment that are application-aware and content-aware, and process voice, video, and data traffic. The company?s products also include a suite of embedded security protocols, which enable unified threat management (UTM), secure connectivity, network perimeter protection, deep packet inspection, network virtualization, broadband gateways, third generation/fourth generation (3G/4G) wireless infrastructure, storage systems, wireless high-definition multimedia interface (HDMI) cable replacement, and embedded video applications. Its products are used in networking equipment, such as routers, switches, content-aware switches, UTM and other security appliances, application-aware gateways, voice/video/data gateways, wireless local area network, 3G/4G Wimax/Long Term Evolution access, aggregation and gateway devices, storage networking equipment, servers and intelligent network interface cards, Internet protocol surveillance systems, digital video recorders, wireless HDMI cable replacement systems, and video conferencing systems; and connected home and office equipment, such as print servers, wireless routers, and broadband gateways. In addition, the company offers embedded Linux operating system, related development tools, support, and professional services. It sells its products directly or through contract manufacturing organizations and distributors to the providers of networking, wireless, storage, and consumer electronic equipment; and to original design manufacturers and contract electronics manufacturers primarily in the United States, China, Taiwan, Japan, and Malaysia. The company was formerly known as Cavium Networks, Inc. and changed its name to Cavium, Inc. in June 2011. Cavium, Inc. was founded in 2000 and is headquartered in San Jo se, California.
- [By Lee Jackson]
Cavium Inc. (NASDAQ: CAVM) generates 18% of their revenue from their association with Cisco. While the company had solid earnings and beat analysts estimates, the coming quarters could prove more difficult. The Thomson/First Call price target is $39.50.
Hot Tech Stocks For 2014: BCE Inc. (BCE)
BCE Inc. provides communications solutions to residential, business, and wholesale customers primarily in Canada. The company offers local and long distance telephone services under the Bell Home Phone brand; direct-to-home satellite television (TV) services under the Bell TV name; Internet protocol TV services under the Bell Fibe TV brand; and personal video recorders and online access services. It also provides data services, including Internet access services under the Bell Internet name; Internet protocol based services; and information and communications technology solutions. In addition, the company engages in the rental, sale, and maintenance of business terminal equipment; sale of TV set-top boxes; and provision of network installation and maintenance services for third parties. Further, it offers wireless voice and data communications products and services, such as call display and voicemail, e-mail, Web browsing, social networking, text, picture and video messagi ng, music downloads, ring tunes, ringtones, games and applications, video streaming, live TV, mobile Internet, roaming, and global positioning system navigation services under the Bell and Virgin Mobile brands. Additionally, the company provides media services comprising TV programming services to broadcast distributors. It operates approximately 28 conventional over-the-air stations and 30 English and French-language specialty TV channels; 33 FM and AM radio stations and their related Websites; and Theloop.ca Website. As of December 31, 2012, the company served approximately 2.1 million high-speed Internet access customers through fiber-optic, digital subscriber line, or wireless broadband technology; and 7.7 million wireless customers. BCE Inc. offers its services through call centre representatives, independent dealer stores, and value-added resellers, as well as through its Websites. The company was founded in 1880 and is headquartered in Verdun, Canada.
- [By Gerrit De Vynck]
Nadir Mohamed has been overshadowed for much of his tenure as head of Rogers Communications Inc. (RCI/B) by the dealmaking of his main rival, George Cope at BCE Inc. (BCE)
- [By Jonathan Yates]
The economy is also expected to recover quickly from the storm’s devastation, making Philippine Long Distance Telephone Company (NYSE: PHI) more attractive to long-term investors than other communications firms such as BCE (NYSE: BCE), AT&T (NYSE: T) and Verizon Communications (NYSE: VZ).
- [By Tom Taulli]
BCE (BCE) is the largest telecom operator in Canada … and sports one whopper of a dividend.
As should be no surprise, the traditional wired voice services segment continues to be weak for BCE, and that’s something we can expect in perpetuity. However, BCE has diversified into other businesses, such as broadband, IPTV, satellite television, radio and mobile, which is helping to smooth its transition.
- [By Dan Caplinger]
The big news for Madison Square Garden has been the success of its key sports franchises. The New York Knicks basketball team made the playoffs and earned the No. 2 seed in the Eastern Conference. Even more importantly, the long-delayed National Hockey League season finally got going in January, helping resurrect what many had feared would be a lost season, sending shares of MSG, as well as Canadian venue/team-owners Rogers Communications (NYSE: RCI ) and BCE (NYSE: BCE ) , higher. As it turned out, MSG’s New York Rangers made the playoffs and will go up against the Washington Capitals in the first round. Playoffs are an especially lucrative time for sports viewership, and usually translate into extra profits for the company’s broadcast businesses.
Hot Tech Stocks For 2014: Symmetricom Inc.(SYMM)
Symmetricom, Inc. provides timekeeping technologies, instruments, and solutions worldwide. Its Communications business unit provides timing technologies and services for communications infrastructure. The Communications business unit products comprise primary reference sources; edge clocks and distribution products for synchronization outside the network core; building integrated timing supply and sync supply unit for the central office; the PackeTime product suite; data over cable service interface specifications timing interface systems; network management and monitoring software; and embedded hardware and software solutions for integration with various elements of the communications ecosystem, such as silicon, routers, switches, microwave backhaul, and base stations. The company?s Government business unit offers time technology products for aerospace/defense, IT infrastructure, power infrastructure, and science and metrology applications. The Government business unit p roduct portfolio comprises timescale clock sources; network time servers; network time displays; time code generators; bus level timing cards; primary reference standards, such as rubidium and cesium oscillator standards; high stability masers; chip-scale atomic clocks; ruggedized crystal oscillators; and custom time and frequency systems. It offers timekeeping in GPS satellites, national time references, and national power grids, as well as in critical military and civilian networks, which enable data, voice, mobile, and video networks and services. The company sells its products through distributors, systems integrators, and manufacturer sales representatives. It serves various markets, including communications service providers; network equipment manufacturers; silicon suppliers; aerospace/defense; power utility infrastructure; IT infrastructure; underwater exploration and navigation; and science and metrology. The company was founded in 1956 and is headquartered in San J ose, California.
- [By Lauren Pollock]
Microsemi Corp.(MSCC) agreed to pay almost $298 million to acquire Symmetricom Inc.(SYMM), a deal that will expand the power-management supplier’s exposure into the aerospace and defense industries while also immediately adding to earnings. Shares in Symmetricom soared.
- [By Rich Smith]
San Jose, Calif.-based Symmetricom (NASDAQ: SYMM ) has a new chief executive officer.
On Tuesday, the “precise time” computer announced a series of changes in upper management. Current CEO David G. Cote is leaving the company “to pursue other interests” and has been replaced by new CEO Elizabeth A. Fetter, a current board member. Details on Fetter’s compensation have yet to be filed with the SEC.
Hot Tech Stocks For 2014: Research in Motion Ltd (BBRY)
Research In Motion Limited, incorporated on March 7, 1984, 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, including e-mail, voice, instant messaging, short message service (SMS), Internet and intranet-based applications and browsing. The Company’s technology also enables an array of third party developers and manufacturers to enhance their products and services through software development kits, wireless connectivity to data and third-party support programs.Its portfolio of products, services and embedded technologies are used by thousands of organizations and millions of consumers around the world and include the BlackBerry wireless solution, the RIM Wireless Handheld product line, the BlackBerry PlayBook tablet, software development tools and other software and hardwa re.
On March 25, 2011, the Company purchased 100% of the shares of a company whose technology is being incorporated into the Company’s developer tools. On April 26, 2011, the Company purchased certain assets of a company whose acquired technologies will be incorporated into the Company’s products. In June 2011, the Company acquired Scoreloop. On March 8, 2012, the Company acquired Paratek Microwave Inc. During the fiscal year ended March 3, 2012 (fiscal 2012), the Company purchased 100% interests of a company, whose technology will be incorporated into its technology; whose technology offers cloud-based services for storing, sharing, accessing and organizing digital content on mobile devices; whose technology is being incorporated into an application on the BlackBerry PlayBook tablet; whose technology offers a customizable and cross-platform social mobile gaming developer tool kit, and whose technology will provide a multi-platform BlackBerry Enterprise Sol ution for managing and securing mobile devices for enterpris! es and government organizations.
On April 24, 2012, the Company launched BlackBerry 7 smartphone, the BlackBerry Curve 9220, for customers in Indonesia. April 18, 2012, it launched BlackBerry 7 smartphone, the BlackBerry Curve 9220, for customers in India. On April 17, 2012, it announced availability of the BlackBerry Bold 9790 smartphone in Spain. On April 3, 2012, it launched BlackBerry Mobile Fusion, and launched four BlackBerry smartphones powered by the BlackBerry 7 operating system (OS) in Cambodia, which included BlackBerry Bold 9900, BlackBerry Bold 9790, BlackBerry Curve 9360 and BlackBerry Curve 9380. On April 2, 2012, it announced the availability of BlackBerry App World, the official application store for BlackBerry smartphones in Brunei, and it announced availability of the BlackBerry Bold 9790 and BlackBerry Curve 9380 smartphones for Cell C customers in South Africa. On March 27, 2012, it launched of the BlackBerry solution in Benin Republic. On March 15, 2012, it launched of BlackBerry services in China. On March 7, 2012, it launched the BlackBerry service in Angola.
The Company’s primary revenue stream is generated by the BlackBerry wireless solution, consists of smartphones and tablets, service and software. BlackBerry service is provided through a combination of its global BlackBerry Infrastructure and the wireless networks of its carrier partners. On February 21, 2012, it released the BlackBerry PlayBook OS 2.0 software. It generates hardware revenues from sales, primarily to carriers and distributors. During fiscal 2012, the Company launched the wireless fidelity (WiFi)-enabled BlackBerry PlayBook tablet in 44 markets around the world. On July 21, 2011, the BlackBerry PlayBook tablet received Federal Information Processing Standard 140-2 certification.
BlackBerry Smartphones and Tablets
BlackBerry smartphones uses wireless, push-based technology that delivers data to mobi le users’ business and consumer applications. BlackBerry s! martphone! s integrate messaging including instant messaging, email and SMS; voice calling; Webkit browser; multimedia capabilities; calendar, and other applications. During fiscal 2012, it introduced 10 new smartphones and launched software updates to both its smartphone and tablet platforms. BlackBerry smartphones are available from hundreds of carriers and indirect channels, through a range of distribution partners, and are designed to operate on a variety of carrier networks, including HSPA/HSPA+/UMTS, GSM/GPRS/EDGE, CDMA/Ev-DO, and iDEN.
During fiscal 2012, its BlackBerry smartphone and tablet portfolio included BlackBerry Bold series, BlackBerry Torch series, BlackBerry Curve series and The BlackBerry PlayBook tablet. Its BlackBerry Bold series includes BlackBerry Bold 9900 and 9930 and BlackBerry Bold 9790. The Company’s BlackBerry Torch series include BlackBerry Torch 9810 and All-Touch BlackBerry Torch 9850 and 9860. The Company’s BlackBerry Curve series includ e BlackBerry Curve 9350/9360/9370 and All-Touch BlackBerry Curve 9380 Smartphone. The BlackBerry PlayBook tablet features the BlackBerry PlayBook OS 2.0. The BlackBerry PlayBook offers a seven-inch high definition display, a dual core one gigahertz processor, dual high definition cameras, multitasking and a Web browsing.
BlackBerry Enterprise Solution
BlackBerry Enterprise Server is software that acts as the centralized link between BlackBerry smartphones, enterprise systems, business applications and wireless networks. BlackBerry Enterprise Server integrates with enterprise messaging systems including Microsoft Exchange, IBM Lotus Domino and Novell GroupWise to synchronize with BlackBerry smartphones to provide mobile users with wireless access to e-mail, calendar, contacts, notes and tasks. It also provides access to business applications and enterprise systems. In addition, it provides security features and offers administrative tools. BlackBerry Enterprise Server is required for certain other enterprise ! solutions! , such as BlackBerry Mobile Voice System (for bringing desk phone functionality to BlackBerry smartphones); BlackBerry Clients for Microsoft Office Communications Server, IBM Lotus Sametime and Novell GroupWise Messenger (for enterprise instant messaging); IBM Lotus Connections (for enterprise social networking); IBM Lotus Quickr (for document sharing and collaboration); and Chalk Pushcast Software (for corporate podcasting).
The Company’s BlackBerry Mobile Fusion provides a Web-based interface that allows enterprises to provision, audit, and protect mobile devices including BlackBerry smartphones, BlackBerry PlayBook tablets, and devices that use iOS and Android. BlackBerry Balance helps enterprises support the Bring Your Own Device (BYOD) trend. BlackBerry Enterprise Server Express is free server software that synchronizes BlackBerry smartphones with Microsoft Exchange or Microsoft Windows Small Business Server. BlackBerry Enterprise Server Express works wit h Microsoft Exchange 2010, 2007 and 2003 and Microsoft Windows Small Business Server 2008 and 2003 to provide users with wireless access to e-mail, calendar, contacts, notes and tasks, as well as other business applications and enterprise systems behind the firewall.
BlackBerry Mobile Voice System (BlackBerry MVS) allows organizations to converge office desk phones and BlackBerry smartphones. BlackBerry MVS is consists of three components: BlackBerry MVS Client, BlackBerry MVS Services, and BlackBerry MVS Server. It unifies fixed and mobile voice communications. Hosted BlackBerry services bring the BlackBerry Enterprise Server features, functionality, and security capabilities in a package that is managed for end users. Hosted BlackBerry services are conveniently handled and supported by a BlackBerry certified partner from the BlackBerry Alliance Program, giving small and medium -sized enterprise (SME) enterprises the support and convenience they need.
The Company generates service rev! enues fro! m billings to RIM’s BlackBerry subscriber account base. It generates service revenues primarily from a monthly infrastructure access fee charged to a carrier or reseller, which the carrier or reseller in turn bills the BlackBerry subscriber.
BlackBerry Technical Support Services
BlackBerry Technical Support Services are a suite of annual technical support and software maintenance programs. The programs are designed to meet the customer’s BlackBerry support needs by offering a contact for BlackBerry wireless solution technical support directly from the Company.
The Company generates revenue from its repair and maintenance program for BlackBerry smartphones that are returned to it by the carrier, the reseller, or the customer. It generates revenue for repair after the expiration of the contractual warranty period.
The Company competes with Apple Inc., Microsoft Inc., Nokia Corporation, De ll, Inc., Fujitsu Limited, General Dynamics Corporation, Hitachi America, Ltd., HTC Corporation, Huawei Technologies Co. Ltd., LG Electronics Mobile Communications Company, Mitsubishi Corporation, Motorola Mobility Holdings, Inc., NEC Corporation, Samsung Electronics Co., Ltd., Sharp Corporation, Sony Corporation, ZTE Corporation, IBM Corporation, Microsoft Corporation, Notify Technology Corporation, Openwave Systems Inc., Seven Networks, Inc., Sybase, Inc. and Good Technologies.
- [By Andrew Tonner]
Although it’s given up some of its gains in the last month or so, shares of Canadian smartphone marker BlackBerry (NASDAQ: BBRY ) remain firmly ahead of the broad market so far in 2014, and for good reason.
- [By Jake L’Ecuyer]
BlackBerry (NASDAQ: BBRY) shares tumbled 2.41 percent to $8.21 after falling 7.07% on Friday. Analysts at Credit Suisse downgraded BlackBerry from neutral to underperform and lowered the target price from $7 to $6.
- [By Jake L’Ecuyer]
BlackBerry (NASDAQ: BBRY) shares tumbled 5.23 percent to $7.97 after falling 7.07% on Friday. Analysts at Credit Suisse downgraded BlackBerry from neutral to underperform and lowered the target price from $7 to $6.
- [By Anora Mahmudova]
In corporate news, BlackBerry Ltd. (BBRY) shares slumped 7% after reporting an adjusted per-share loss that was less than expected. The company said it anticipates maintaining a strong cash position and is targeting break-even cash-flow results by the end of fiscal 2015.