Blackberry (NASDAQ: BBRY) Saved by the Pentagon?... Nope | Financial Buzz

Blackberry (NASDAQ: BBRY) Saved by the Pentagon?… Nope

Blackberry, Motorola, Apple, NASDAQ, NYSEJust last week, the Department of Defense (DOD) released a statement they will be deploying version 1.0 a program of the unclassified mobility capability which will support up to 100,000 users. The program will support devices such as Apple’s (NASDAQ: AAPL) iPads, iPhones, Samsung devices, Motorola (NYSE: MSI) devices and 80,000 Blackberry (NASDAQ: BBRY) phones. The public took the press release as, the Pentagon has purchased 80,000 Blackberry Devices, which was incorrect. With this release and the interpretation people had, shares rose over 5% up to $11 per share.

Clearing up the confusion

Yesterday, the DOD reported the claims from multiple news sources were untrue, the department was merely mentioning the devices they have currently in their inventory and not purchases of new devices. After the DOD cleared up the confusion, shares went down 4%.

“Absolutely no new orders have been placed for new BB devices. The DISA press release put out Jan. 16 never alluded to any devices being purchased. The 80,000 BBs and 1,800 non-BB devices referenced in the release are legacy systems already in DoD inventories.” – The Department of Defense

Blackberry is still in trouble

Although this news isn’t to say the Pentagon won’t be making purchases from Blackberry in the future, the press release does indicate that the DOD is going cross platform. With addition of Apple, Samsung, and Motorola joining the program, Blackberry is losing slices of its pie.