The Zacks Analyst Blog Highlights: BlackBerry, Apple, Google, Nokia and
CHICAGO, Feb. 8, 2013
CHICAGO, Feb. 8, 2013 /PRNewswire/ --Zacks.com announces the list of stocks
featured in the Analyst Blog. Every day the Zacks Equity Research analysts
discuss the latest news and events impacting stocks and the financial markets.
Stocks recently featured in the blog include BlackBerry Limited (Nasdaq:BBRY),
Apple Inc. (Nasdaq:AAPL), Google Inc. (Nasdaq:GOOG), Nokia Corporation
(NYSE:NOK) and Barclays PLC (NYSE:BCS).
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Here are highlights from Thursday's Analyst Blog:
BlackBerry Boasts Record Z10 Sales
As per media reports BlackBerry Limited (Nasdaq:BBRY), has reported strong
sales for its newly launched Z10 smartphones in the UK and Canada, two of its
most important markets. The shareholders reacted strongly to the news as the
stock price surged by almost 7%, at the close of trading on Tuesday.
Notably, after several launch delays the company finally launched its much
hyped BB10 operating system-based smartphones on Jan 31, 2012, being developed
on its QNX software, which is compatible with various open-source coding
languages. The smartphone was launched in UK on Feb 1, while the Canadian
customer got a taste of the new handset on Feb 5.
The Canadian handset manufacturer has seen strong sales, which is almost three
times better than the first week sales of BlackBerry device ever. Similarly,
in Canada the company received record pre orders for its latest touch screen
version Z10 and is 50% more than any other BlackBerry launch day sales. The
actual sales figure, however, is yet to be revealed.
Blackberry devices are being sold in different locations in Canada by the
three large telecom carriers, namely, Bell Canada, Telus and Rogers. The
company got a boost from these carrier partners as they reported strong
interest from users currently using an iPhone or an Android-based device.
Blackberry, once the global leader of smartphones has been struggling since
the last 3-4 years, as they failed to identify consumers' preferences and has
been battling in a crowded smartphone market mainly dominated by Apple Inc.'s
(Nasdaq:AAPL) iOS and Google Inc.'s (Nasdaq:GOOG) Android platform.
Significantly, Nokia Corporation (NYSE:NOK) faced a supply shortage in the US
when it launched its flagship Lumia 920 and was even sold out in some of the
countries. Apple, which is the most valuable technology company also performed
well and sold 5 million handsets in the first thee days of its launch in the
The company has preloaded the smartphones with some of the most unique
features in the industry, which is suitable for supporting different customer
preferences and is betting on its new platform, to turn the tables in their
favor. We believe the company has made a good start, but winning back old
customers from other smartphone rivals still remain the biggest challenge for
On the downside, however, the company has postponed the launch of its
QRT-based handsets in the US until May, due to some network related issues. It
remains to be seen how the company performs when the touch screen version
comes up for sale next month in the lucrative US market.
BlackBerry currently carries a Zacks Rank #3 (Hold).
Barclays to Slash 275 Jobs in NYC
Barclays Investment Bank – a division of Barclays PLC (NYSE:BCS) – is set to
eliminate nearly 275 jobs in New York City. These layoffs are a part of the
company's strategic overhaul aimed at reviving its profitability.
Barclays had disclosed its plans to retrench employees in a filing with the
New York State Department of Labor. The company is liable to give a notice
period to the employees under The Worker Adjustment and Retraining
Notification Act (WARN Act). Under this Act, it is necessary for most
employers – with 100 or more employees – to provide an advance notification of
60-calender day to the employees, before the closure of the plant and mass
The layoffs will take place during a 14-day period beginning on May 15, 2013.
The company held the economic factors responsible for the layoffs. The
reduction in headcount will occur at the company's 3 offices in the New York
City – 200 Park Avenue, 745 Seventh Avenue and 130 Avenue of the Americas.
Over the past year, Barclays has been under tremendous pressure owing to
unsettling macro economic factors. In addition, the company is embroiled in
various controversies highlighting its scandalous activities. Earlier this
week, the company set aside additional £1.0 billion ($1.6 billion) to meet
litigation expenditures pertaining to the dubious sale of financial products.
Further, in 2012, Barclays reached a $453 million settlement with both British
and U.S. regulatory bodies over the manipulation of the London Interbank
Offered Rate or LIBOR.
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