Why BlackBerry (BBRY) Stock Is Up Today

NEW YORK (TheStreet) -- BlackBerry (BBRY) was gaining 1% to $10.67 Wednesday after the smartphone maker announced its new BlackBerry Passport smartphone.

BlackBerry's newest smartphone is made more for business use than fun, with a 4.5-inch display designed for viewing more information in spreadsheets than narrower phones, and a physical keyboard that doubles as a touch pad. The square display helps make the phone about the size of a U.S. passport, as the name suggests.

The new smartphone has a 2.2GHz Snapdragon 801 processor, 3GB of RAM, 32GB of internal storage, and a 13MP camera, which help it compete with high-end smartphones such as the Samsung  (SSNLF) Galaxy S5 and Apple (AAPL) iPhone 6 in terms of specs.

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The BlackBerry Passport will come to AT&T (T) in the U.S. BlackBerry expects the phone to sell for $249 on contract, and $599 off contract.

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 a number of negative factors, 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 disappointing return on equity, weak operating cash flow and feeble growth in its earnings per share."

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