BlackBerry is surprisingly creating a lot of buzz these days. The technology stock tumbled 20% on heavy volume after it denied earlier report from Reuters that smartphone-maker Samsung is trying to buy it.
“BlackBerry has not engaged in discussions with Samsung with respect to any possible offer to purchase BlackBerry,” the company said in a statement. “BlackBerry’s policy is not to comment on rumors or speculation, and accordingly it does not intend to comment further. “
BlackBerry made big rally in its final hour of trading on Wednesday to end the day about 30 percent higher on a Reuters report that said Samsung had approached BlackBerry about a $7.5 billion buyout, with an aim to acquire access to its patent portfolio.
Reuters said executives from both companies met last week to discuss a potential transaction.
Later Wednesday, Samsung also shot down the buyout report. Samsung spokeswoman said that “media reports of the acquisition are groundless.”
Separately on Wednesday, Canada’s Globe & Mail’s Jacquie McNish and Sean Silcoff reported BlackBerry “has shunned a handful of potential buyers in recent months as its board of directors and largest investor continue to support a turnaround.”
R.W. Baird‘s William Power writes “Given that BlackBerry’s disparate businesses are in various states of flux (MDM just starting, hardware in turnaround, and legacy services en route to zero), we don’t believe an acquisition is likely near term.”
Shares of ConAgra Foods Inc were active on Thursday after the company canceled a presentation at an investor conference in February. Investors may be speculating the cancellation is related to possible deal talks, according to Reuters.
There has been chatter that the company has skipped its plan to present at the Consumer Analyst Group of New York (CAGNY) Conference in Boca Raton, Florida, in February, analysts said.
The company confirmed that it plans to host the reception at the conference but there will be no presentation at the event as an impending chief executive officer transition is likely to occur later this year.
“We think it’s important that the transition be complete before presenting at a major investor conference,” Lanie Friedman, a spokeswoman for ConAgra Foods, said in an email.
Yahoo! Inc investors easily get frightened these days. Once the darling of the Internet world saw its shares decline by more than 6 percent since the 2015 kicked off while the Nasdaq Composite index has lost 2 percent. One known reason is that Alibaba, in which Yahoo keeps a big minority stake, has also reported declines.
But that’s incomplete story. Considering nearly $3 fall in Yahoo’s stock since the start of the year, only about $1.60 is tied to Alibaba’s decline.
Now, the question is what to be blamed for the remaining $1.40 decline? Yahoo investors told CNBC it is due in part to rumors and news reports last week, none of which have come true, suggesting Yahoo was going after acquisitions in an unfriendly way.