Can BlackBerry (BB) become the stock market’s Liverpool FC? For anyone following the English Premier League, after 30 barren years and one global pandemic, soccer giants Liverpool finally clinched the premier league title last week. Might the maker of the once iconic smartphone be able to also rekindle former glories?Since leading the handset market and peaking at an all-time high of $147.55 per share – all the way back in June 2008 – the landscape has irrevocably changed. BlackBerry has changed direction since and is now ostensibly a security software specialist. The share price has changed direction too, down now in penny stock territory, with another disappointing year in tow – shares have dropped by 25% in 2020.The former glories will be hard to replicate, and although last week’s Q1F2021 earnings report was a step in the right direction, the results were still a mixed bag.In the quarter, BlackBerry’s revenue declined...
(Bloomberg) -- China over the past decade built an alternate online reality where Google and Facebook barely exist. Now its own largest tech corporations from Alibaba Group Holding Ltd. to Tencent Holdings Ltd. are getting a taste of what a shutout feels like.India’s unprecedented decision to ban 59 of China’s largest apps is a warning to the country’s tech giants, who for years thrived behind a government-imposed Great Firewall that kept out many of America’s best-known internet names. If India finds a way to carry out that threat, it may present a model for other countries from Europe to Southeast Asia that seek to curtail the pervasiveness of apps like ByteDance Ltd.’s TikTok while safeguarding their citizens’ enormously valuable data.The surprise moratorium hit Chinese internet companies just as they were beginning to make headway in the world’s fastest-growing mobile arena, en route to going global and challenging American tech industry supremacy....
The coronavirus’ impact spares no one. Nike (NKE) surprised Wall Street on Friday, when the sportwear giant took a beating by COVID-19 in its F4Q20 earnings report. The market reacted as the market does and sent shares down by 7.5% in the session.In the quarter, the swish machine reported revenue of $6.31 billion, exhibiting a 38% year-over-year drop and missing the estimates by $950 million. GAAP EPS of -$0.51 missed by $0.54. The overall decline pressured gross profit margin, which came in at 37.3%, lower than the Street’s call for 43.4%.Broken down by region, sales in the U.S. dropped by 46%, and in Europe by 44%. Only China came in positive, clocking a slight 1% uptick, with sales improving during the quarter.It was impossible to avoid the coronavirus’ devastating effect across the globe. For eight weeks in F4Q, 90% of Nike stores were shut across North America, EMEA (Europe, the Middle...
Stock futures edged down Tuesday evening as overnight trading began, pointing to a slightly lower open to kick off trading for July, the third quarter and second half of the year....
