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[video] BlackBerry Exec Sells $26 Million in Shares; Amazon Blames Shipping Woes on UPS

Stocks in this article: AMZN BBRY

The video this transcript is based on appeared on December 26.

NEW YORK ( TheStreet) -- Blackberry co-founder Mike Lazaridis and another executive from the company are abandoning their previously-revealed buyout bid, and instead opted to trim their stake. Plus, Amazon's looking to catch a lift at the holidays--not from drones, but from a boost in online sales.


Good morning from the Nasdaq MarketSite on December 26. I'm Jon Marino from TheStreet with your global market update this morning. Looking ahead to the trading day here in the US we're seeing light volume anticipated as we get back to work after the Christmas holiday and when you take a look at international markets, checking out our global stock panel now we'll see that internationally most markets are closed. However, in the UK we've got a surge of 1.8%t and a strong close for them. Obviously the Footsie, Dax and CAC 40 are all shut down today.

Getting back to the Nasdaq wall here - getting started, Blackberry (BBRY) says it's headquartered in Waterloo but this year you've gotta really wonder if they were based in Whoville. Downright Grinchie federal filing coming from co-founder Mike Lazaridis who at one point considered buying out the handset maker. Instead, according to the Christmas Eve federal filing, he's abandoning his buyout bid with another Blackberry executive and instead sold shares worth about $26 million dollars. Now Blackberry stock is off about three percent and it looks like a rough end of the year for the company.

And another stock to watch today is Amazon (AMZN) . While retail sales lag this fall a ShopperTrak report issued before Christmas suggested online sales surged leading up to the holiday. This combined with shoppers being scared away by hackers and brawls at brick-and-mortar retailers could mean that Amazon adds to its 59 percent gains in 2013. The stock is at an all-time high just beneath the four hundred dollars a share mark. Now the only down news about Amazon came in the form some shipping woes that in turn blamed on the weather as well the shipping provider UPS.

And taking a look at our Action Alert stock, this one coming from Jim Cramer. He's all revved up about General Motors (GM) for the holidays. Jim is a buyer again citing strength in North America for 2014 as well as a solid product line for GM. And he's anticipating a dividend from the automaker next year too. Shares are up so far this year forty one percent.

That's a wrap for us but be sure to keep an eye on all day as we cover the latest breaking news. I'm Jon Marino, have a great day.

Written by Jon Marino in New York.

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