BlackBerry Ltd. (NASDAQ:BBRY): Current price $10.94
Striking quickly to avert a very negative headline, BlackBerry has dismissed a report that it will eliminate one-half its sales force, through an e-mail to IBD. Senior Manager Lisette Kwong for BlackBerry corporate communications said that, “We did not cut half of our sales force. Instead, we are moving a small number of US-focused sales roles that were based in Canada to the US to be more closely aligned with our customers. This is part of the second phase of our transformation plan.” The previous report indicated that BlackBerry had laid off over half its sales force, during weak smartphone sales, and rumors of a suitor for the former tech star.