Sep 20

BlackBerry Investors Seeing Red Following Early Announcement Of 50% Revenue Miss (Stock Re-Opens -25%) (ZeroHedge, Sep 20, 2013):

UPDATE: BBRY opens and trades down to $8.06 – all-time lows -21%

So much for the 8 analysts who have “Buys”…

Having risen phoenix-like off the lows in July, it seems Blackberry is echoing the Eastman Kodaks of the world. Releasing its earnings early, the results are dramatically worse than expected:

  • BLACKBERRY 2Q PRELIM. REV. $1.6B, EST. $3.03B
  • BLACKBERRY 2Q PRELIM. LOSS 47C-51C/SHR, EST. LOSS 16C
  • BLACKBERRY TAKING PRETAX CHARGE $930M TO $960M, MOSTLY FOR Z10
  • BLACKBERRY CUTTING 4,500 JOBS
  • BLACKBERRY CASH: $2.6 BILLION – start the cash burn countdown
  • BLACKBERRY TO CUT OPER EXPENDITURES BY ABOUT 50% BY END 1Q ’15

The last bullet point is great news: think of all the cash that will go toward dividends and stock buybacks…

Shares are still halted for now at $10.27; though we remind readers that while the low of $8.57 is not that far away, in the new normal (and a 33% short interest) where bad news is good, nothing would surprise us on the open.

Full release: Continue reading »

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Sep 08

German Chancellor Angela Merkel holds a BlackBerry Z10 smart phone: Will the company face a setback following claims the NSA can spy on its phones? (REUTERS)

Privacy Scandal: NSA Can Spy on Smart Phone Data (Spiegel, Sep 7, 2013):

SPIEGEL has learned from internal NSA documents that the US intelligence agency has the capability of tapping user data from the iPhone, devices using Android as well as BlackBerry, a system previously believed to be highly secure.

The United States’ National Security Agency intelligence-gathering operation is capable of accessing user data from smart phones from all leading manufacturers. Top secret NSA documents that SPIEGEL has seen explicitly note that the NSA can tap into such information on Apple iPhones, BlackBerry devices and Google’s Android mobile operating system.

The documents state that it is possible for the NSA to tap most sensitive data held on these smart phones, including contact lists, SMS traffic, notes and location information about where a user has been.

Continue reading »

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Dec 05

Assange on mass surveillance: ‘You are all screwed!’

YouTube Added: 02.12.2011

Description:

The whistle-blowing website Wikileaks has begun releasing sensational information on the multi billion dollar global spying industry. The database contains hundreds of documents shining a light on the methods being used by secret services all over the world. Here’s the video of Wikileaks founder Julian Assange speaking to journalists and students at a press conference at City University London in central London on December 1, 2011. Along with a number of other guest speakers, Mr Assange spoke of the Wikileaks ongoing investigation of surveillance software companies and their alleged use by governments around the world.

Wikileaks Julian Assange tells iPhone, Blackberry and Gmail users: “You’re all screwed.” (Mirror, Dec. 1, 2011):

WikiLeaks founder Julian Assange has warned smartphone and email users: “You’re all screwed”.

The whistle-blowing website has released details of companies it says are selling information obtained by monitoring people’s mobile phones and computers.

According to Mr Assange, more than 150 organisations around the world have the ability to use phones as tracking devices as well as intercept messages and listen to calls.

Those companies then sell the wholesale information, often the telecommunications data of “entire populations”.

He told a press conference at City University in London that the publication of the “Spy Files” is a “mass attack on this mass surveillance industry”.

The 40-year-old asked the audience of students and press: “Who here has an iPhone? Who here has a BlackBerry? Who here uses Gmail?

“Well, you’re all screwed.

“The reality is, intelligence contractors are selling right now to countries across the world mass surveillance systems for all those products.”

Continue reading »

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