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Morning Briefing: 10 Things You Should Know


8. -- Fairfax CEO Prem Watsa told The Associated Press he has every intention of completing the acquisition of BlackBerry (BBRY), despite doubts that the $4.7 billion deal for the smartphone maker will be completed.

Fairfax is BlackBerry's largest shareholder.

BlackBerry announced earlier this week that Fairfax signed a letter of intent that "contemplates" buying BlackBerry for $9 a share.

BlackBerry shares fell 6% on Wednesday to $8, on doubts the deal wouldn't take place.

"We've got a track record of 28 years of completing what we've done. We've never re-negotiated," Watsa told the AP. "We thought long and hard before we offered $9 a share and we're not in the business of offering a number and at the last minute changing the figure. Over 28 years our reputation is stellar on that front. We just don't do that." Watsa noted the deal is subject to six weeks of due diligence but stressed Fairfax won't abandon it.


9. -- Nike (NKE) is expected by analysts on Thursday to post fiscal first-quarter earnings of 78 cents a share on revenue of $6.96 billion.


10. -- Starbucks (SBUX) filed a trademark application for "Fizzio" as it continues its test of carbonated drinks.

The coffee company said in a filing with the U.S. Patent and Trademark Office that the name would be for beverage-making machines, as well as a variety of drinks, including soft drinks.

The company has been testing sodas in Atlanta and Austin, Texas.


-- Written by Joseph Woelfel



>To contact the writer of this article, click here: Joseph Woelfel

>To submit a news tip, send an email to: tips@thestreet.com.

Copyright 2013 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.
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