Why BlackBerry (BBRY) Stock Is Up Today

NEW YORK (TheStreet) -- BlackBerry (BBRY) shares are rallying after the smartphone company reported first-quarter losses narrower than a year earlier as cost-cutting efforts paid off. 

In its May-ended quarter, BlackBerry reported net losses of 11 cents a share. Analysts surveyed by Thomson Reuters estimated net losses of 26 cents a share. Revenue dropped nearly 69% year over year to $966 million, just over estimates of $963.2 million. 

By midafternoon, shares had spiked 11.1% to $9.21. Trading volume of 57.8 million shares was nearly seven times its three-month daily average of 8.4 million shares. 

Must read: Warren Buffett's 25 Favorite Stocks

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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 several 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."

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

If you liked this article you might like

Delphi, Blackberry Announce Partnership to Advance Autonomous Vehicles

We Are Astonished By How Far Uber Has Deviated From Its Original Master Plan

BlackBerry's Rally Is Falling by the Wayside

Goldman: Blackberry a 'Sell' Over Mobile Messaging Concerns

Dow Scores Ninth Straight Record Close With Tiny Gains, S&P 500 at All-Time High