BlackBerry’s Quandary, Salesforce.com’s Big Quarter, and 3 More Hot Stocks
BlackBerry (NASDAQ:BBRY): The Canadian smartphone maker’s uncertain future is causing Morgan Stanley (NYSE:MS) to hold off on upgrading its employees’ existing devices with BB10-equipped phones, as the bank wants to ensure that BlackBerry will provide support in the long term. BlackBerry’s hopes now lie largely with the corporate market, which is starting to warm up to the new devices: Canadian banks have mostly moved up, as well as one large U.S. bank, and a broadcasting company.
Salesforce.com (NYSE:CRM): Earnings per share of 9 cents beat by 2 cents as revenue of $957 million beat by $18.5 million. Shares, up over 12 percent, are likely reacting to the company’s upbeat guidance for the third quarter, with revenue estimated at $1.05 billion to $1.055 billion versus a consensus of $1.04 billion and EPS of 8 cents to 9 cents versus a 7 cent consensus.
Las Vegas Sands (NYSE:LVS): Hedgeye gaming analyst Todd Jordan says that Las Vegas room rates are tracking higher during the third quarter. Seeking Alpha notes that Macau numbers will remain dominant in the sector but as Vegas performs well, the added margin could give casino operators some breathing room.
Nuance Communications (NASDAQ:NUAN): Carl Icahn has upped his position in Nuance by 20,890,119 shares, bringing his holding in the company to 52.4 million shares, or 16.9 percent of the company. His initial 9.3 percent stake was revealed in April, though the activist investor declined to provide any specific intentions for the company.
Chevron Corp. (NYSE:CVX): Chevron is reportedly optimistic that it will move into a second phase of investment to develop Argentina’s massive shale oil and gas deposits in a partnership with the local, state-run YPF SA. Under the terms, Chevron will initially invest $1.24 billion in a pilot project to develop shale deposits in the famed Vaca Muerta formation in the arid Patagonian province of Neuquen, Nasdaq reports.