BlackBerry Takeover Turned Down by Samsung and 2 Other Hot Stocks to Watch

BlackBerry Ltd. (NASDAQ:BBRY): Current price $10.13

According to The Street, a Samsung official responded to questions about a possible takeover of troubled BlackBerry by ruling out such a potential move. The Samsung official denied that her company has any interest in acquiring BlackBerry. She advised a newspaper that, “Samsung Electronics is not considering that opportunity” and would not comment further.


J.C. Penney & Co. (NYSE:JCP): Current price $13.69

In a regulatory filing late Monday, it was indicated that J.C. Penney’s number-one investor, William Ackman, intends to sell his entire position in the embattled department store operator for roughly $504.4 million, marking a loss of approximate $470 million.

Pershing Square Capital Management’s Ackman disclosed that he will divest his nearly 18-percent interest, comprised of 39.1 million shares. On Tuesday, Ackman said that the shares will be priced at $12.90 apiece, which is around 3 percent below Monday’s $13.35 close. Ackman bought the shares in 2010, paying about $25 per share, said Pershing on Tuesday. In late-morning trading, the shares are up around 3.75 percent on extremely heavy volume.


Nokia Corp. (NYSE:NOK): Current price $4.01

In a Tuesday note to investors, analyst Kai Korschelt at Deutsche Bank said that Nokia’s primary profit driver, its Nokia Solutions and Networks division, might see its financial performance deteriorate in the future as the unit, which develops telecom equipment and networking products, is set to generate lower revenue and profit margins going forward.

Korschelt added that, impacted by lower spending trends among its Asian customers and constrained growth prospects in developed countries, the business might have to be restructured, costing Nokia some €600 million. By the end of next year, Nokia’s net cash reserves could to fall to under €1 billion from the current €3.6 billion, wrote Korschelt, who kept a Sell on the shares.


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