Why BlackBerry Stock Is Soaring After a $4.4 Billion Net Loss
 

Why BlackBerry Stock Is Soaring After a $4.4 Billion Net Loss
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Everyone knew BlackBerry's earnings report on Friday would be bad, but **t this bad.

BlackBerry's revenue in the third quarter fell by more than 50% from the same period a year earlier. The company's net loss for the quarter topped $4 billion due to restructuring costs and unsold devices. Yes, billion with a "b." And it barely sold more than 1 million BB10 devices, proving once more that its make-or-break smartphone product line is broken.

So, naturally, Wall Street reacted by dumping the stock and burning effigies of Alicia Keys, right? **t quite

After initially declining by as much as 7% in pre-market trading Friday, BlackBerry's stock rebounded and was actually up by more than 15% at one point in morning trading. As of this writing, the stock is still up more than 13%. If that makes your brain hurt, you're certainly **t alone. Read more...

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