It seems that BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) wants to make a statement after the launch of Classic, therefore, the officials will visit the Nasdaq Market Site in Times Square to ring the market closing bell.
What BlackBerry wants to say?
The smartphone maker will officially launch the much-awaited Classic device on Wednesday at an event. BlackBerry will also host the Classic’s launch in New York City, Frankfurt and Singapore.
BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB)’s chief Financial officer, James Yersh will be ring the bell. BlackBerry CFO will visit the Nasdaq MarketSite 4 Times Square 43rd & Broadway Broadcast Studio on Wednesday, December 17, 2014 at 3:45 p.m. to 4:00 p.m. EST.
The reason for ringing the Nasdaq bell would be interesting and still uncertain, but it is expected that this could be the strategic move to highlight the Classic’s launch and a possible positive earnings report set to be announced on the 19th. Analysts have been cautious ahead of the BlackBerry earnings. Recently, BMO Capital and Raymond James analysts reiterated their Market Perform rating on the Canadian company. On Monday, BlackBerry stock was down 4% while on Tuesday it closed up marginally.
Much depends on Classic
Ringing bell will definitely help the company to highlight its new Classic model, which will be unveiled today. BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) is expecting big from the new model as the device is mainly aimed at diehard Blackberry users, who like keyboard instead of using touch screens.
Morgan Stanley analyst James Faucette forecasts BlackBerry Ltd (NASDAQ:BBRY) (TSE:BB) to sell about 8 million smart phones in its next fiscal year, which would be same as this year. The introduction of the new model is a well-planned move of the company by focusing on its core business and government users.
The coming future of the Canadian company is dependent on many factors like success of consumer devices, BBM, etc. It is largely believed that if the Classic model didn’t sell in the market then the company’s exit from the device business could approach sooner. However, the most important factor is whether or not the company can generate new revenues from selling services and software to its enterprise customers.