BlackBerry Launches Its 9720 Smartphone and 2 Other Hot Stocks to Watch
BlackBerry (NASDAQ:BBRY): Current price $11.84
On Tuesday, BlackBerry launched its new “super social” BlackBerry 9720 smartphone, built for ”a communications centric experience.” The device was created for a premium appearance and is available in a number of vibrant colors, equipped with all the favorite social apps. Additionally, the 9720 smartphone sports a spacious BlackBerry Keyboard along with distinct keys for optimal typing, a 2.8-inch touchscreen, a trackpad for easy navigation, generous battery life, and many other enhancements.
Micron Technology Inc. (NASDAQ:MU): Current price $14.34
Micron Technology officials are in the process of eliminating some 5 percent of the firm’s workforce in offices, fabrication facilities, and research laboratories in Idaho as well as globally. The move comes after the company’s acquisition of its Japanese rival, Elpida, although spokesman Dan Francisco said that the job cuts are not a direct result of Micron acquiring Elpida Memory Inc., which has 5,000 employees. The memory chip maker currently has around 30,000 workers, which means that the cutback is targeted at trimming approximately 1,500 employees. Meanwhile, company executives would not say how the cuts will impact Micron’s Boise campus, which has roughly 5,600 employees.
First Bancorp (NYSE:FBP): Current price $6.68
First Bancorp said Tuesday that various stockholders have begun a proposed public underwritten offering of a total of 28 million shares that they currently own. The Treasury Department is offering to sell 12 million shares. Funds affiliated with Thomas H. Lee Partners are offering 8 million and funds managed by Oaktree Capital are also offering 8 million. Finalization of the proposed offering will decrease the Treasury’s beneficial ownership in the firm from 16.43 to 10.67 percent, while the beneficial ownership of THL and Oaktree will each decrease from 24.49 to 20.62 percent upon completion of the offering. First Bancorp will receive no proceeds from the proposed offering.
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