BlackBerry and Samsung Deny Takeover Rumor, BlackBerry Gains Erased

BlackBerry BBRY shot sharply higher yesterday following a Reuters article that Samsung (OTCMKTS: SSNLF) was in discussion to offer $13.35 to $15.49 for the smartphone maker. Since closing yesterday at $12.60, both BlackBerry and Samsung have denied the rumor.

 

That erased the gains in BlackBerry – sending the stock to $10.55, 16 percent lower, in premarket trade.

 

J.P. Morgan’s Rod Hall said today in a note that there is “some strategic logic” to the deal, which would give Samsung enterprise smartphone and messaging capabilities and sales. However, he said that barring a takeover, he sees BlackBerry as a difficult stock to own – at least until more evidence of BES 12 adoption emerges. 

Posted In: NewsRumors
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...