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- I agree 100% but that was decided in 2011-2012 time period long before Chen entered the picture. Fairfax launching it's original bid to go private and shopping it around for competing bids sent a strong message to BOD that Fairfax was calling the shots and there wasn't any other white knight.
There wasn't any reason to bring company private @ $9USD per share then. I suspect that $6USD per share now looks pretty good to all parties involved before Fairfax sells off the large pieces with a smaller loss than if BlackBerry had gone under in 2013 or so.
Posted via CB10
Timing this time.... these next two ER might not be very good. If Prem has insider info, he'll factor that into his offer.... now or later.06-02-20 10:27 AMLike 0 - https://www.bnnbloomberg.ca/fairfax-...tion-1.1444453
Fairfax shoots down BlackBerry deal-talks speculation
“Fairfax is not currently making a bid, or engaged in making a bid, for BlackBerry,” said Fairfax general counsel Derek Bulas in an email to BNN Bloomberg Tuesday.06-02-20 10:29 AMLike 10 - https://www.bnnbloomberg.ca/fairfax-...tion-1.1444453
Fairfax shoots down BlackBerry deal-talks speculation
“Fairfax is not currently making a bid, or engaged in making a bid, for BlackBerry,” said Fairfax general counsel Derek Bulas in an email to BNN Bloomberg Tuesday.rarsen likes this.06-02-20 11:43 AMLike 1 - Not surprised Fairfax is not interested is buying out the remaining shares. I suspect there would be a huge outcry from both Fairfax internally and externally from the major minority shareholders, including the Canadian government. Fairfax has to be looking at the losses on Blackberry and increasing their investment on this poorly performing position has to be highly controversial and debated topic. Logic seems to have prevailed.
There's no logic prevailing. This doesn't improve any story for BlackBerry Limited as it does nothing to help the current situation. If anything, this message could signal an erosion of support that may give partners and vendors pause. I strongly believe this may have been a pump and dump story. That's also bad since no comment would have been preference over denial comment.
Posted via CB1006-02-20 01:28 PMLike 0 -
Step back from the bar, outside from the dance floor with it's techno beat and beautiful women. Still the same building and bar that was in trouble shutdown for the last month, unexplainably losing money before covid-19 and riots ever happened?
I've been a fan of Chen saving the company and respecting the significance. Doesn't change the enormous risk with very limited upside
Posted via CB1006-02-20 01:43 PMLike 0 - or perhaps Mr Market thinks that "that somebody-is-buying-BB-rumour seems legit. so if Fairfax isn't buying it, who is? Amazon? MicroSoft? Ford? I'll beat them to the punch!!!" :P06-02-20 02:00 PMLike 0
- More than likely orders placed by people who saw the first story but not the second denial story. DIY participants notoriously buy high and sell low because that's what emotionally attached money does.
Step back from the bar, outside from the dance floor with it's techno beat and beautiful women. Still the same building and bar that was in trouble shutdown for the last month, unexplainably losing money before covid-19 and riots ever happened?
I've been a fan of Chen saving the company and respecting the significance. Doesn't change the enormous risk with very limited upside
Posted via CB10
Imagine if Prem had been in control of the BOD back when Mike and Jim stepped aside for the sock puppet. About $4 Billion extra dollars and two years.... Slack didn't even exist back then, could BBM have been BlackBerry's business communications tool?06-02-20 02:11 PMLike 0 - He did the best he could with what he had.
Imagine if Prem had been in control of the BOD back when Mike and Jim stepped aside for the sock puppet. About $4 Billion extra dollars and two years.... Slack didn't even exist back then, could BBM have been BlackBerry's business communications tool?
That said, I did tweet JC to invest in Slack a long time ago. sadly he didn't heed my advice :P06-02-20 02:46 PMLike 0 -
Just wishful thinking... about roads not taken.FeitaInc likes this.06-02-20 03:24 PMLike 1 - PR:
https://www.prnewswire.com/news-rele...301069855.html
Dedrone and BlackBerry Partner to Counter Unauthorized Drone Activity06-03-20 07:57 AMLike 5 - PR:
https://www.prnewswire.com/news-rele...301069855.html
Dedrone and BlackBerry Partner to Counter Unauthorized Drone Activity06-03-20 08:03 AMLike 0 -
On a related note, when Fairfax buyout rumours surface I always overlook the fact that they only own ~8.5% of the shares and are not even the largest shareholder, they're #2. It would be a huge financial "gulp", even for them to buy the other 91.5%. Of course they do have the covertable debenture which would help, but even with that, a major cash outlay.Redzinaldas likes this.06-03-20 08:38 AMLike 1 - Volumes yesterday were quite impressive, 20 million vs. the usual 7 million. Someone took a big position but the real test will be if the volumes are sustained over the next few days. If not, then it was just short term speculators capitalizing on the false rumor, probably started by whoever this is. We'll see.
On a related note, when Fairfax buyout rumours surface I always overlook the fact that they only own ~8.5% of the shares and are not even the largest shareholder, they're #2. It would be a huge financial "gulp", even for them to buy the other 91.5%. Of course they do have the covertable debenture which would help, but even with that, a major cash outlay.
They'll only do it, so save what they have invested already... "in for a penny, in for a pound". They aren't going to capitalize on some insider "breakout story", as some here think. It's only going to happen if there is no other option... because business like QNX see a big downturn due to COVID, while UEM Sale Team still struggle and Cylance's growth continues to shrinks.
If that happens then by the end of the year I'd expect this "group" to step in to secure some value from the stock. Sometime before they burn all their "free" cash.
Hopefully auto market makes a quick recover and QNX revenues are able to remain on course, maybe BlackBerry's work from home software is making a big impact and Cylance finds it's path. Many software companies are doing pretty good even with the downturn.... we will see in a few weeks how BlackBerry is doing.06-03-20 09:53 AMLike 0 - Volumes yesterday were quite impressive, 20 million vs. the usual 7 million. Someone took a big position but the real test will be if the volumes are sustained over the next few days. If not, then it was just short term speculators capitalizing on the false rumor, probably started by whoever this is. We'll see.
On a related note, when Fairfax buyout rumours surface I always overlook the fact that they only own ~8.5% of the shares and are not even the largest shareholder, they're #2. It would be a huge financial "gulp", even for them to buy the other 91.5%. Of course they do have the covertable debenture which would help, but even with that, a major cash outlay.06-03-20 10:27 AMLike 0 - MKM Partners
BlackBerry (BB, Neutral, $6.00)
Making Corrections To Our Model, Increasing Fair Value Estimate to $6
Fair Value Estimate $6.00 Prior $4.50
• Correcting FY21 estimates. We are correcting an error in our FY21 revenue estimate. Our published FY21 revenue estimate was above consensus by a high-teens percentage, and our FY21 EPS estimate was about double what it should have been. We are correcting this and making other model adjustments including raising GMs forecasts. Our actual 1QFY21 (May) revenue forecast is $221mn and our new EPS estimate is break-even. These numbers compare to consensus at $220mn / ($0.01).
• Adjusting FY22 forecasts. In addition to fixing FY21 estimates, we are slightly reducing FY22 forecasts as a result of the COVID-19 headwinds the company discussed on the last earnings call. These headwinds are particularly acute in the Auto/QNX business that makes up ~20% of company sales, but are also present in all the other revenue lines including Enterprise, Cylance and Licensing. We are lowering our FY22 revenue forecast by 3% to $1.10bn. Our new FY22 EPS estimate of $0.16, compares to our prior model at $0.18.
• Checks into the business. 1QFY21 revenues are expected to come in down significantly year-over-year, and quarter-over-quarter, due to COVID-19. Based on our checks, we think trends are roughly in line with the conditions discussed by management on the 4QFY20 call. Enterprise and Cylance, which make up ~50% of company sales, enjoy some tailwind from the increase in work from home (WFH). However, the WFH surge in 1QFY21 is likely already starting to moderate going into 2QFY21. We also think BlackBerry is experiencing extended sales cycles with new prospects, since it is more difficult to close new customer business when communicating remotely. On the other hand, it should see some new paying customers in 2QFY21 that signed up for free trials during 1QFY21.
• Auto and Licensing. 1HFY21 is likely to be particularly tough for the QNX business at BlackBerry due to the significant slow down in global Auto production. We expect a meaningful reduction in FY21 Auto-related revenues for the company compared to FY20. However, new design wins for advanced instrument clusters and self-driving capabilities continue to be on a positive track, according to our checks. Licensing revenues, which are ~30% of company total, are also likely to be down meaningfully year-over-year in FY21 against a tough comparison. COVID-19 is part of the reason for the slowness in Licensing sales this year since it is more difficult to negotiate agreements when there are travel restrictions.
• Increasing fair value estimate to $6. We are raising our FV estimate for BB to $6, from $4.50. The $4.50 estimate was based on only 2.0x EV-to-FY22 sales, which was probably too low for a high GMs software company like BlackBerry. Our new FV estimate of $6 is based on 2.7x EV-to- FY22 sales. We think this is a more appropriate valuation given the company's business profile.
• Maintaining Neutral. BB is up 26% over the past month, versus the NASDAQ up 12%, as the stock has bounced off the bottom, and there have been headlines about patient major investors and new additions to the management team. We are maintaining our Neutral rating since 1HFY21 looks to be fairly tough from a revenue perspective, partially due to COVID-19. In order to get more constructive, we would have to see better market share performance in Enterprise and end-point Security. We would also want improved visibility to better revenue trends in Auto and Licensing. We believe there are enough current uncertainties to remain on the sidelines.
Key risks to our thesis include:
The Cylance unit could underperform, which is something that often happens following an acquisition.
IP licensing sales were very strong in FY20, with tough compares for FY21.
The Auto and Asset Tracking businesses could take longer to develop, and could drive less near- and medium-term growth for the company than anticipated.
A strategic buyer may be interested in purchasing BB above our fair value estimate.06-03-20 10:30 AMLike 3 - OT:
SentinelOne
https://www.businesswire.com/news/ho...es-200M-Series
https://www.businesswire.com/news/ho...curity-Partnerrarsen likes this.06-03-20 10:34 AMLike 1 - It could be the opposite of what you think. Usually, when a rumor is false, it means that someone is creating it for a purpose and if you look at the trend, when the institutions leaved BB in the last Q, 48% compared to 52%, you will realize that someone has probably liquidated his "big position ”.06-03-20 11:19 AMLike 0
- General information:
Gartner says smartphone sales plummeted 20 percent in Q1 2020
https://www.zdnet.com/article/gartne...percent-in-q1/
Cybersecurity warning: Hackers are targeting your smartphone as way into the company network
https://www.zdnet.com/article/cybers...&cid=71650312506-03-20 12:32 PMLike 0 - General information:
Gartner says smartphone sales plummeted 20 percent in Q1 2020
https://www.zdnet.com/article/gartne...percent-in-q1/
Cybersecurity warning: Hackers are targeting your smartphone as way into the company network
https://www.zdnet.com/article/cybers...&cid=716503125
For any that think it's time for BlackBerry to get back into hardware, think again. Smart play is software and services, if you can offer what customer want.06-03-20 01:10 PMLike 0 -
- After having browsed through the BlackBerry executive team page on their webpage, I can't but help to notice that these two descriptions are strikingly similar:
David Castignola is responsible for global sales including direct channels, ISV’s and alliances, customer support, professional services, product marketing and field marketing, for the BlackBerry Spark group.
Tom Eacobacci is President of BlackBerry, responsible for sales, field marketing, engineering, and customer support for the BlackBerry Spark and BlackBerry IoT Solutions groups.06-04-20 01:41 PMLike 2 - JC on LinkedIn:
#DidYouKnow BlackBerry is a #leader in detecting malicious activity and correctly assigning it to specific tactics, according to the MITRE ATT&CK evaluation?
06-05-20 10:16 AMLike 2
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