BlackBerry Ltd (NASDAQ:BBRY) Wins Vote Of Confidence From AT&T Inc (NYSE:T)

Posted by admin January 8, 2014 0 Comment 2369 views

If the recent gains posted by the troubled smart phone and business phone maker BlackBerry Ltd (NASDAQ:BBRY) at the browsers is taken as a indicator of the future prospects of the firm, it seems like the $4.46 billion market capped ailing messaging services provider has finally managed to turn the corner and is embarked on a slow though albeit steady recovery path towards profitability.

Impressive Run At The Markets In Past Month

During trading on January 7, the stock of BlackBerry Ltd (NASDAQ:BBRY) posted a impressive 6.1 percent gains to take the share price closer to double digits and almost 56 percent above its trailing 12 month low price of $5.44. These gains at the market yesterday have been a continuation of the 44 percent strong build up in momentum the stock has experienced in the past one month under the tight regime run by the Interim CEO John Chen.

AT&T Vote Of Confidence

The big single day spurt in the valuation of BlackBerry Ltd (NASDAQ:BBRY) stock yesterday is being linked to a slew of positive news reports related to the firm. The first has been the vote of confidence the business phone maker received from telecom giant AT&T. The U.S largest cellular services provider has indicated that it will continue to invest in their partnership with the Canadian cell phone maker and has gone on record to state that they will continue to support the firm as it revamps its roadmap to emerge as a viable smart phone devices supplier.

CEO Chen’s Steady Hand At The Helm

AT&T Inc (NYSE:T)‘s Mobility Practice Group head Ralph de la Vega has been quoted as saying that he “personally believes that BlackBerry’s new CEO, John Chen has a good plan and AT&T will support efforts by the company to continue being a viable supplier.” The analyst community has also picked up on comments by BlackBerry Ltd (NASDAQ:BBRY) CEO Chen yesterday where he was quoted as saying that “Most of the company’s future phones will have keyboards. I personally love the keyboards,” as a further underlining of specific plans the company has for its future.

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