The newly-released Passport smartphone by BlackBerry Ltd (NASDAQ:BBRY) has been in short supply, with many carriers and stores in North America and the U.K. reporting it to be out of stock, according to a wireless survey done by Canaccord Genuity. The broker said the limited availability, coupled with a longer-than-usual "component procurement and manufacturing cycle time" for the phone may not be a blessing for the smartphone maker as it recognizes hardware sales on a sell-through basis.Due to the limited initial supply of the new phone and the longer than average build times, Canaccord Genuity has decreased its Q3 2014 and full-year hardware revenue estimates on the Passport. The broker said it expects BlackBerry Ltd (NASDAQ:BBRY) to sell 1.4 million BB10 devices between Q3 2014 and full-year 2015, "with a greater percent mix of lower-ASP Z10 device." The broker also cut its FY2016 pro forma EPS estimates to a loss of $0.12 per share from a loss of $0.09 per share, and cut its FY2015 sales estimates to $3.66 billion from $3.94 billion and slightly raised its FY2016 sales estimate to $3.84 billion from $3.83 billion. Canaccord Genuity also said it expects the company to achieve cash flow break-even levels in FY2015.Aratana Therapeutics Inc (NASDAQ:PETX), pet therapeutics company focused on licensing, developing and commercializing biopharmaceutical products for companion animals, said Monday that it has signed a global licensing agreement with Atopix Therapeutics Ltd. for the development and commercialization of a novel oral CRTH2 antagonist for animal health indications. Atopix is a clinical stage company focused on innovative oral therapeutics for allergic diseases. Aratana Therapeutics Inc (NASDAQ:PETX) said the decision to enter into this previously announced licensing agreement was based on favorable results from early de-risking studies performed under the now-completed option agreement between the two companies.Under the license deal, PETX agreed to develop and seek approval for the use of the product in atopic dermatitis, focusing initially on developing the product for dogs. Atopix is currently evaluating its lead once-daily oral candidate (known as OC459) in a human Phase 2 study in moderate to severe atopic dermatitis, and is supporting a registration study of OC459 in patients with eosinophilic asthma in Russia. Aratana plans to conduct a dose-ranging pilot study in client-owned dogs in atopic dermatitis.Archer Daniels Midland Company (NYSE:ADM) said it reached agreement to purchase Specialty Commodities, a natural ingredients firm, for $170 million. Shares fell slightly. Archer Daniels Midland Company (NYSE:ADM) Chairman and CEO Patricia Woertz said the acquisition fits the company's strategy to widen its specialty ingredients portfolio. Specialty Commodities produces and distributes nuts, fruits, seeds, legumes and ancient grains. When the transaction closes, SCI will become part of ADM's new WILD Flavors and Specialty Ingredients business unit, Woertz said.
Discover Hidden Gems
Don't miss the next big opportunity. Subscribe for timely alerts on potential market movers.
