Reuters: Technology News: BlackBerry shares slide on Goldman downgrade

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BlackBerry shares slide on Goldman downgrade Mar 25th 2013, 12:41 Tweet Share this Email Print Related News BlackBerry shares dive on reports of muted U.S. debut for Z10 Fri, Mar 22 2013 BlackBerry shares higher after Morgan Stanley upgrade Wed, Mar 20 2013 BlackBerry plans security feature for Android, iPhone Fri, Mar 15 2013 BlackBerry shares rally on AT&T launch, takeover hopes Mon, Mar 11 2013 Apple signals emerging-market rethink with India push Mon, Feb 25 2013 Analysis & Opinion Where banks really make money on IPOs Related Topics Investing and Taxes Simplified » Tech » A new Blackberry Z10 smartphone is displayed at a store in New York, March 22, 2013. Credit: Reuters/Brendan McDermid TORONTO | Mon Mar 25, 2013 8:41am EDT TORONTO (Reuters) - BlackBerry stock fell nearly 4 percent on Monday after Goldman Sachs cut its rating, citing a disappointing U.S. launch for the smartphone maker's new touchscreen device that went on sale in the United States on Friday. "Our retail checks at over 20 store locations since March 22, including at AT&T, Best Buy, and RadioShack, revealed a surprising lack of marketing support and poor positioning of the product," Goldman Sachs analyst Simona Jankowski said in a note to clients on Monday. Jankowski also said advertising of the product launch was limited. "As a result, despite the product itself being relatively well received by sales associates and online reviews, sell-through at most locations was less than 10 per day," said Jankowski. The brokerage firm cut its rating on shares of BlackBerry to "neutral" from "buy." BlackBerry shares were down 3.9 percent at $14.33 in trading before the morning bell in the United States. (Reporting by Euan Rocha; Editing by Lisa Von Ahn) Investing and Taxes Simplified Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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