Top Movers in the Technology Sector in the Trailing 5-Day Period
BlackBerry announced its fiscal 4Q16 results
Shares of BlackBerry fell 9.5% in the trailing five-day period ending April 5, 2016.
Canada-based (EWC) BlackBerry (BBRY) announced its fiscal 4Q16 and fiscal 2016 earnings last week. It reported GAAP (generally accepted accounting principles) revenue of $464 million and non-GAAP revenue of $487 million. For fiscal 4Q16, BlackBerry’s loss per share stood at $0.45 on a GAAP basis and $0.03 on a non-GAAP basis.
BlackBerry missed analysts’ earnings and revenue estimates. The company attributed its weak quarter to slowing demand in the high-end smartphone space. It competes with tech heavyweights Apple (AAPL) and Samsung Electronics (SSNLF) in this space.
Western Digital shares fell 8.7% in the trailing five-day period
Both Western Digital (WDC) and SanDisk (SNDK) shareholders approved the $17 billion merger. So far, the merger carried a $19 billion price tag. It reduced to a $17 billion price tag in light of Unisplendour’s withdrawal from the deal to acquire a 15% stake in Western Digital.
In March 2016, over 90% of Western Digital’s shareholders approved the issue of new shares needed to fund the merger and 98% of SanDisk’s shareholders approved the revised merger offer. Both of the companies secured regulatory approvals in the US, Europe (EFA), Turkey, Singapore, Taiwan, South Korea, Japan, and South Africa. The merger is waiting for approval from China. The deal is expected to close in the June 2016 quarter.
Shares of Western Digital fell by 8.7% in the trailing five-day period and 9.5% in the trailing one-month period.
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