Blackberry has come out with much stronger than expected sales and earnings plus a new licensing deal, which could spark a rally in its shares today. Prior to this, Energy markets have been the most active overnight. Stocks have been consolidating yesterday's gains while the US Dollar slipped a bit.
Blackberry has reported non-GAAP EPS of $0.05, well above the breakeven street estimate. Non-GAAP sales were $249M, well above the $222M traders had been expecting. Software and services generated $196M in sales, above the $177M that had been expected. Looking forward, for the February 2018 fiscal year Blackberry guided non-GAAP sales of $920-$950M above the $916M street estimate. The company also announced the signing of its first Blackberry Secure licensing agreement with Yangzhou New Telecom Science and technology for smartphone technology. The first product under this deal is due out in early 2018.
Crude oil has gone into rally mode with WTI gaining 1.1% and Brent rallying 0.9%. Gasoline, on the other hand, is down another 0.9%. Energy traders appear to be responding to two developments. First, growing tensions in the Middle East after the Kurdish region of Iraq, an oil producing area, voted 92% in favour of independence. Iraq has threatened to shut down airports in the region and other countries have cancelled flights. Traders also appear to be responding to yesterday's US DOE inventory report that showed a surprise decline in oil inventories and a surprise increase in gasoline inventories.
Overnight Boston Fed President Rosengren called for gradual rate hikes. KC Fed President George, a known hawk on rates, speaks today. Outgoing Fed vice chair speaks today at a conference in London along with Bank of England Governor Carney.
CMC Markets is an execution only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
CMC Markets er en ‘execution-only service’ leverandør. Dette materialet (uansett om det uttaler seg om meninger eller ikke) er kun til generell informasjon, og tar ikke hensyn til dine personlige forhold eller mål. Ingenting i dette materialet er (eller bør anses å være) økonomiske, investeringer eller andre råd som avhengighet bør plasseres på. Ingen mening gitt i materialet utgjør en anbefaling fra CMC Markets eller forfatteren om at en bestemt investering, sikkerhet, transaksjon eller investeringsstrategi. Denne informasjonen er ikke utarbeidet i samsvar med regelverket for investeringsanalyser. Selv om vi ikke uttrykkelig er forhindret fra å opptre før vi har gitt dette innholdet, prøver vi ikke å dra nytte av det før det blir formidlet.