Why BlackBerry (BBRY) is Up Today

NEW YORK (TheStreet) -- BlackBerry (BBRY) gained 1% to $7.38 on Monday following CEO John Chen's op-ed on CNBC extolling the strengths of the company.

Chen says in the opinion piece that the Canadian phone maker is "strong financially, technologically savvy and is well-positioned for the future." Chen says that during his first two months as CEO, he and his team devised a new strategy for BlackBerry that will focus on enterprise and security.

Chen noted that BlackBerry is still leading in enterprise, and that all G7 governments use BlackBerry devices. BlackBerry devices, Chen pointed out, are the only devices approved for use by U.S. Department of Defense.

Other strengths, according to Chen, including the BBM messaging service, which it recently released for Apple's (AAPL) iOS and Google's (GOOG) Android.

BlackBerry recently announced a partnership with Chinese manufacturer Foxconn to design low-end BlackBerry devices, which may help the company in emerging markets. The company will also announce some new features of its QNX platform at the Consumer Electronics Show in January 2014.

TheStreet Ratings team rates BLACKBERRY LTD as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:

"We rate BLACKBERRY LTD (BBRY) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself."

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