"RIM continued to execute on its p 1oduct roadmap plans and to deliver on key financ ial metrics as it gets set for the global launch of BlackBerry 10," said Thorsten Heins, President and CEO.
'During the third quarter, we continued to demonstrate our strong financial position, generating $950 million in cash flow from operations, and increasing our cash position significantly to more than $2.9 billion. More than 150 carriers are currently completing technical acceptance programs for the first BlackBerry 0 products, and beta trials of BlackBerry Enterprise Service IO are underway at more than 120 enterprises including 64
Fortune 500 companies. This is an exciting time and our carrier partners , application developers and employees are all looking forward to unveiling the innovation and excitement of Blackberry I0 to our customers on January 30, 2013."
"Despite the significant changes we are implementing across the organization, our second quarter results demonstrate that RIM is progressing on its financial and operational commitments during this major transition," said Thorsten Heins, President and CEO. "Subscribers grew to approximately 80 million global users, revenue grew sequentially from the first quarter, cash, cash equivalents, short-term and long-term investments increased by approximately $100 million to $2.3 billion, and carriers and developers are responding well to previews of our upcoming BlackBerry 10 platform. Make no mistake about it, we understand that we have much more work to do, but we are making the organizational changes to drive improvements across the company , our employees are committed and motivated, and BlackBerry 10 is on track to launch in the first calendar quarter of 2013."
"RIM continues to be a financially strong company, and we're executing and delivering on our commitments."
"At the heart of the Blackberry user experience is a keyboard our customers can type on. The BlackBerry keyboard has always been the best in the industry. And with BlackBerry 10, it just keeps getting better."
"We are in the midst of building a leaner and stronger organization."
"With approximately 80 million subscribers and upcoming launch of the new and unique mobile computing platform and unmatched reputation for security and growing support for BlackBerry 10 from carriers and developers, companies I meet with understand that RIM remains a strong, innovative and relevant player in the mobile computing world."
Hahaha I did not cover my shares! Most of them below $14, took some nice profits now I am adding the position back accordingly as it rises and for sure would double my bet if we get to $14 again instead of going higher. This can only go lower. Betting on the long side is a fools game.
I short VXX along the way but in this instance I have reserved more cash if the unthinkable occurs and VXX possibly spike temporarily to $25 or higher. YOu would have a MONSTER short opportunity after that (in about 30 days). Once the spike occurs you just wait it out for 30 days.
A default is not that big of a deal, everyone is already positioned for it and prepared with scenarios modeled for the last 2 years. There would be calamity for 30 days but after that the World would resume it adoption of the US Dollar as the reserve currency and VXX short will be a VERY GOOD trade!
Don't get caught in margin, that's all...
Here is an exerpt from my last newsletter. Default is NECESSARY. Finally.
"This thesis of course is all based upon the pretense that the Debt Crisis will be resolved and the credit card limit will be raised. In actuality the solution lies in default for them and I for one think a default is a much better option. The reason being is that their debt is unsustainable. Many nations are working to create a new Global Reserve Currency but they are decades away from being able to do this. While the opportunity presents itself I personally feel defaulting on their debt and retiring liabilities which could never be paid anyway would cause some serious stresses in financial markets but when it was all said and done, the World would have to take a step back and again accept the US Dollar as the reserve currency because there is no other viable alternative! That is for a whole other newsletter!"
The over-hang of the cost of mfg, the liability of Thor, the liability of an inexperienced board with no one having any public company experience has the share price suppressed more than the losses!! Management is the liability. This is a short until they are gone.
Since they have absolute control there is no fear to be short knowing that none of them see this as the problem.
BBRY under GOOG,MSFT,AAPL management is an instant DOUBLE. How it lies here, it is a $0.
I like my Z10, IOS7 is still behind BB10. However no one knows this and the UI was first to market for Android and IOS. I do believe you are right, that BBRY technology is more valuable in the hands of the big three. So if you believe this like I do, why would you be long. You HAVE to be short knowing this story.
I would buy BBRY personally if they would abandon this sale non-sense, fire Thor and then have the new CEO disband the board. Then BBRY would be a buy.
Yes if BBRY walks away it is $157 Million. If BBRY walks away for a higher bidder it is $257 Million!!! Hahaha who makes this stuff up. Simply awesome - and they accepted the terms. A bunch of kids as the BOD. They are as big a sucker as you longs are. Bird of a feather -
Yet still the price is $8 - market has no value for that. There is a reason that will be apparent later...
Are you guys nuts!? For his 50M shares that's $5 per share as a bonus! No way any body on Earth is that stupid. Brings his cost basis to $12, that is his hope for a $10 buy out or so, and he would barely lose a penny.
I covered most of my short and took some profit, now I am SLOWLY adding it back in yes. The downside is 100% guaranteed. You just have to measure your entry points over 45 days or so until you have a full position during times of stress. Enjoy the upside I hope you make lots of money, I will build my short and enjoy.
Wishing for perpetual death and destruction does not seem like a probably scenario - maybe that is just me. The sun will shine and the World will go on - I'll bet on that.
Dimwits! Shorts are not guessing! hahaha there is almost a larger market cap short than the company is worth! I assure you, you do not know the story. The people risking $2B collectively know something you do not know.
JCP shares are for next year, they are percolating ;) Haha. I am still underwater on my NFLX short by $30!! But thankfully you can just add to the BBRY short and recoupe all your losses. If BBRY were not here I would be very worried!
I am even signing up for the lawsuit as I owned the shares from September last year until June this year! Made some money but taking some in court would even be better! Short is the way to $0 and 100% profits! ;)
Yep I was blindsided by the dilution! Oh well. What I see is an iconic American brand operated on an American exchange with $85B a month flowing.into the system. There is no way JCP will be allowed to fail, like FSLR, like GMCR, like on and on and on. Positive store comps for the next 4 quarters and then we will see...
So funny you said that. For one having 10 million does not.make you rich. It makes you careful and strategic. Not flamboyant and stupid. Having $10M does not mean it's for spending!!
Second, I knew right away what my November newsletter was going to be when I saw TWTRQ! These are the collective market participants that are definitely in the lower 49 percentile! It is free money for the taking millions of idiots, with billions of dollars with the intellect of a stone! How can you lose in capital markets, just be slightly smarter than them!? ;)
Somewhat accurate. I don't think BBRY will go to $0.00 it could trade as low as a penny though... ;)
There's a VERY good reason 150M shares are still short my friend. I assure you they have done more research and are a lot more in-tune than anyone who owns this stock.
If they breach the debt ceiling this would be a no-blame excuse to exit the BBRY bid because no bank or group would be financing. BBRY would drop to $2-$3 then you could buy it for a speculative play! I'll be there!
Took the small loss. It was tying up too much capital for too long and there are other places. Hopefully she goes +100 now but I was done waiting beating a dead horse. Took my gains took a lump, all in all happy but I waited way too long on this last trade with no action (for me). So its all yours now! ;) No more APA bashing.
APA to $1000 ;) I am not buying it. There are better plays, I still like my COG.