Market Overview

BlackBerry Up 4% After Positive Headline, Leaked Photos

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BlackBerry (NASDAQ: BBRY) shares are up more than four percent after a headline on Quartz took note of recent investor interest in the shares.

Also potentially moving the market are photographs and technical specifications leaked over the weekend of Blackberry's Passport device set for launch in September.

A further factor may be "window dressing" as fund managers seek to clean up portfolios at quarter's end.

The Quartz item was short on substance, noting merely that BlackBerry shares were up 30 percent since the start of 2014, and that despite recently improved financials, it continues burning cash.

"BlackBerry now appears to have broken out of its share price death spiral, but questions about its future remain," the Quartz item noted.

Elsewhere, leaked specs for Passport garnered approval, but the device drew mixed reviews based on its appearance.

"It's difficult to imagine that anyone aside from corporate road warriors appreciating this device," a reviewer at GSM Arena wrote.

"An odd device altogether," added ValueWalk.

Conversely, “The screen of such elegance, that makes the most diehard iPhone user smile," a reviewer at Know Your Mobile opined.

BlackBerry shares traded recently at $10.22, up 4.5 percent.

 

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Posted-In: QuartzNews

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