Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



Why BlackBerry and Red Hat Shares are Rising

The Dow Jones Industrial Average (DJINDICES: ^DJI  ) had fallen more than 36 points as of 11:35 a.m. EDT. AT&T (NYSE: T  ) was one of the best-performing Dow Jones components, while tech stocks BlackBerry (NASDAQ: BBRY  ) and Red Hat (NYSE: RHT  ) posted notable moves to the upside.

Philly Fed crushes expectations
The Philadelphia Federal Reserve Bank manufacturing reading for June came in at 17.8, better than the 14 that economists had anticipated.

The index measures the strength of the economy in the Philadelphia area. A better than expected reading is obviously a good sign for the economy, and by extension the stock market, but its importance is limited as it measures only a single region. 

Source: Wikimedia Commons.

AT&T gets a new phone
Shares of AT&T rose over 0.2% early on Thursday. AT&T is the only wireless carrier that will offer Amazon's Fire Phone when it goes on sale next month.

The handset is just as expensive as its competition, unusual for Amazon, but offers a number of features no other smartphones have, including a 3D-like effect that Amazon callings dynamic perspective. Buyers also get a free one-year subscription to Amazon Prime.

If the Fire Phone succeeds, it could draw new subscribers to AT&T. Still, the smartphone market is highly competitive, and the Fire Phone may attract few customers.

BlackBerry beats earnings expectations
Canadian handset maker BlackBerry was up nearly 11% after posting better than expected earnings on Thursday. BlackBerry lost $0.11 per share, but analysts had projected a loss of $0.26 per share. Revenue of $966 million was slightly better than estimates.

BlackBerry's results have largely been the product of cost-cutting. CEO John Chen believes the company's handset business should be operating near breakeven by the end of fiscal 2015. That, combined with BlackBerry's enterprise and cloud services, could revive the struggling business. There's also continued speculation that the company could be acquired by a larger mobile player, or a company looking to break into the industry.

Red Hat turns in a solid quarter
Red Hat shares rose more than 3% in the wake of a solid quarterly report. Earnings of $0.34 per share was slightly better than the $0.33 per share estimate; revenue of $424 million was likewise a bit more than the $414 million consensus analyst projection.

Red Hat's solid earnings were a byproduct of corporate demand for the open source software specialist. Red Hat boasted that it now counts 94% of the Fortune 500 among its customer base. Red Hat noted that it closed a record number of million-dollar deals last quarter, as enterprise demand for its information technology cloud services remains high. 

Leaked: Apple's next smart device (warning, it may shock you)
Apple recently recruited a secret-development "dream team" to guarantee its newest smart device was kept hidden from the public for as long as possible. But the secret is out, and some early viewers are claiming its everyday impact could trump the iPod, iPhone, and the iPad. In fact, ABI Research predicts 485 million of this type of device will be sold per year. But one small company makes Apple's gadget possible. And its stock price has nearly unlimited room to run for early in-the-know investors. To be one of them, and see Apple's newest smart gizmo, just click here!

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 3000510, ~/Articles/ArticleHandler.aspx, 9/4/2015 3:09:30 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Sam Mattera

Sam has a love of all things finance. He writes about tech stocks and consumer goods.

Today's Market

updated Moments ago Sponsored by:
DOW 16,061.96 -312.80 -1.91%
S&P 500 1,917.24 -33.89 -1.74%
NASD 4,672.56 -60.94 -1.29%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/4/2015 2:54 PM
^DJI $16062.16 Down -312.60 -1.91%
BBRY $7.29 Down -0.17 -2.28%
BlackBerry CAPS Rating: *
RHT $68.58 Down -1.10 -1.58%
Red Hat, Inc. CAPS Rating: ***
T $32.45 Down -0.59 -1.78%
AT&T CAPS Rating: ****
INVN $9.89 Down -0.17 -1.69%
InvenSense CAPS Rating: *****