BlackBerry Gets Downgraded, Vanda’s Meteoric Rise, and 3 More Hot Stocks

BlackBerry Ltd. (NASDAQ:BBRY): Channel checks have revealed ”a pick-up in the pace of services erosion at US enterprise customers,” according to Macquarie’s Kevin Smithen, who downgraded BlackBerry to Underperform from Neutral citing his belief that a breakup is less likely following the company’s $1 billion convertible debt agreement. He now expects BlackBerry to finish fiscal 2015 with 46.8 million subscribers, down from 53.7 million.

bbry-20131115

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA): Vanda shares are spiking more than 14 percent as both Food and Drug Administration staff and Ad Com panel members have given the company’s Non-24-Hour Disorder treatment tasimelteon a favorable nod; Vanda shares have seen a roughly 120 percent gain since Monday.

vndaa-20131115

Diana Shipping Inc. (NYSE:DSX): Diana Shipping announced its time charter contract with RWE Supply & Trading for one of its dry bulk vessels at a gross charter rate of $18,350 per day for around 22 months; a contract to purchase the vessel with final delivery at a future date has already been agreed upon.

dsx-20131115

Cell Therapeutics Inc. (NASDAQ:CELL): Cell Therapeutics shares are soaring after the company formed a licensing agreement with Baxter (NYSE:BAX) for the development and commercialization of pacritinib, a drug that is currently in Phase III testing for myelofibrosis. Cell Therapeutics will receive upfront payments of $60 million, $30 million of which is an equity investment; Cell Therapeutics is also eligible for milestone payments up to $112 million and sales milestone payments assuming approval.

cticc-20131115

Barrick Gold Corp. (NYSE:ABX): Barrick Gold and Goldcorp have apparently hired the Bank of Montreal to sell the Marigold mine in Nevada, which the two own jointly; it is expected to fetch at least $200 million. Marigold is 67 percent owned by Goldcorp and 33 percent owned by Barrick, and yielded about 81,000 ounces of gold in the first six months of this year.

abx-20131115

Don’t Miss: Pfizer to Employees: Dump Your BlackBerry Devices.

More from The Cheat Sheet