Diamonds and Dogs
11/4/13Blackberry Limited (BBRY)
Blackberry is getting crushed today, down 16.35% at $6.50. The wireless solution company saw its shares fall after abandoning its plan to sell itself. After failing to get a buyout offer finalized by Monday's strategic review deadline, BlackBerry said that it will instead sell $1 billion of convertible debt to its largest shareholder, Fairfax Financial Holdings, and other investors, reigniting concerns over the company's future. Along with the buyout plan falling apart, the company announced that its CEO Thorsten Heins will be replaced by the former Sybase CEO John Chen. Blackberry shares hit a new 52-week low of $6.40 intraday.
GrafTech International Ltd. (GTI)
GrafTech is trading in the green today, up 15.67% at $11.00. The graphite and carbon-based solution company saw its shares pop after reporting earnings. Revenues dropped 5.5% from a year ago to $303.1 million, but were slightly ahead of estimates. Net income swung from a profit of $29.6 million to a loss of $7.6 million, or $0.06 per share. But on an adjusted basis, which takes out one-time items, earnings per share of $0.04 were $0.02 ahead of estimates. The better than expected earnings helped shares set a new 52-week high of $11.19 intraday.