BlackBerry Bracing for More Executive Exits and 2 More Heavily Traded Stocks to Follow
BlackBerry (NASDAQ:BBRY): Closing price $9.24
BlackBerry is getting ready for a larger number of executive departures as retention bonuses expire and CEO Thorsten Heins sets more robust targets that endanger managers’ jobs, a source told Bloomberg. The source said the one-year incentive packages from July 2012 to help boost output and timely delivery of the company’s new BlackBerry 10 phones and software are expiring. Heins is also establishing goals for phone sales, subscriber growth, and product development; managers who fail to meet the figures will face termination.
United Parcel Service Inc. (NYSE:UPS): Closing price $86.12
UPS has lowered its second-quarter and full-year profit estimates, pointing to weak domestic industrial growth and a labor matter that impacted results for the quarter. The package shipping behemoth is considered a bellwether for the economy because it ships a large part of the product going in and out of the United States. The firm reduced its second-quarter earnings per share guidance to $1.13, which is under analyst forecasts of $1.20 per share.
Zynga Inc. (NASDAQ:ZNGA): Closing price $3.50
Jim Cramer on Thursday commented on some of the stocks that callers offered up during the Mad Money Lightning Round. On Zynga, he said: “I think the new CEO is a winner. It’s too late to sell and time to buy.”