A BBRY Autopsy, Cisco Outlook, Triangulating iPhone 5S

Shares of BlackBerry (BBRY) ar down a pair of cents at $8.01, below last week’s projected $9 take-out value, because the Street continues to dialogue the chance of Fairfax money Holdings truly having the ability to complete the deal.

Canaccord Genuity‘s microphone Walkley reiterates a Hold rating on BlackBerry stock, and cuts his value target to $7 from $9, reckoning that the total of its elements is diminished by last quarter’s half-billion money burn, because it “we don’t rule out more inventory write-downs, notably related to BlackBerry Q10 merchandise our world surveys indicate ar commercialism through poorly” future severance payments are going to be required to cut back employees, and also the company “holds vital off record written agreement commitments.”

On the opposite hand, capital of South Dakota Ferragu of Leonard Bernstein analysis, WHO last Wed plumbed skeptical concerning Fairfax obtaining the required funding for the deal, nowadays raised his rating on the shares to promote Perform from Underperform, writing that the stock currently reflects seventy fifth probability of Fairfax succeeding. “We assume this is often still a generous chance, however we tend to currently see the danger reward of remaining exposed not sufficiently engaging,” so he wouldn’t wish to be dissipated against the deal at this time.

In case you lost it, the world and Mail‘s Jacquie McNish and Sean Silcoff on Sat ran a long article involving interviews with large integer former BlackBerry staffers, and together with a remarks by CEO Thorsten Heins, and former co-CEO microphone Lazaridis. Among the findings of the article ar that former co-CEO Jim Balisillie wished to show BlackBerry within the direction of licensing BBM generally as a replacement to SMS texting, building a high-volume electronic messaging business, and Lazaridis wished to target keyboard-based models, rather than full-screen bit models just like the Z10.

And Bloomberg’s Serena Saitto, Leslie Picker and Victor Hugo Miller this morning denote that BlackBerry’s $157 million break-up fee if the deal doesn’t undergo is “unheard of” and will have a “chilling effect” on any auction to induce a better bidder, in step with sources, together with Deutsche Bank former agent Tor Braham

See also my colleague Saint Andrew Bary‘s piece on Fairfax as AN appealing investment during this week’s Barron’s print magazine.

Shares of Cisco Systems (CSCO) ar up four cents at $23.37 because the Street continues to muse remarks created by CEO John Chambers last week in a very meeting with Barron’s editors. UBS‘s Amitabh Passi asks why Chambers remarked concerning the threat of white box and Amazon internet Services within the networking market. “It is unclear to USA why CEO Chambers specifically highlighted this threat last we tend toek however we don’t believe there has been any new pregnant market development within the past a pair of months.”

Passi thinks consequent 3 months are going to be crucial for Cisco because it unveils Insieme, its knowledge center startup effort, and over consequent year, it’ll become clear if Cisco will hold its own in software-defined networking (SDN).

Passi maintains a get rating on Cisco shares and a $28.50 value target.

Taiwan Semiconductor producing (TSM) could get a contract to supply hour to seventieth of the degree of Apple‘s (AAPL) next chip for its mobile devices, the “A8,” write Amy Fan and Jessie Shen of DigiTimes this morning, citing a report printed by AN outfit referred to as Hankyung of South Korea. that might be a giant loss of business for Samsung, that has been the only provider of chip fobbing to Apple to date.

Shares of TSM ar down eleven cents, or 0.6%, at $16.96.

Speaking of Apple, R.W. Baird’s William Power this morning writes that marketing research firm Localytics conducted some surveys of iPhone internet usage within the wild and located that “the iPhone 5S painted seventy eight of iPhone 5S/5C sales worldwide and ninety one of sales in China.” though surveys may be distorted by the measurement firms’ own location, Power writes that’s essentially in keeping with his own “checks”.

John Fortt with CNBC this morning reminds USA that once Carl Icahn meets with Apple’s CEO Tim Cook in big apple for dinner tonight. Fortt relates that Apple’s report last week of nine million iPhone 5S and 5C sold-out within the 1st weekend “may have tipped the ability balance” between Cook and Icahn, WHO is pushing Apple to be a lot of aggressive with its share repurchase.

CNBC’s David Faber aforesaid his sources haven’t created clear whether or not Icahn and Cook have settled on a specific edifice.

The folks at DigiTimes additionally solid doubt this morning on Microsoft‘s (MSFT) second spherical of Surface pill computers, unveiled per week agone. Jim Hsiao writes that in step with DigiTimes analysis, “As ASPs for Windows on Intel (WoI) tablets have already reached below US$300, The Surface a pair of series’ US$449 and higher than value purpose is very unfriendly to shoppers,” and can not materially modification Microsfot’s fortunes.