Worth Watching Stocks News Recap: BlackBerry Ltd (NASDAQ:BBRY), Fitbit Inc (NYSE:FIT), Prudential Financial Inc (NYSE:PRU)

On Thursday, Shares of BlackBerry Ltd (NASDAQ:BBRY), added 3.66% and closed at $7.94 in the last trading session. The last trading range of the stock ranges between $7.65 and $8.01. BlackBerry Limited develops and sells smartphones and other devices under the BlackBerry brand name worldwide. The company develops and offers smartphones with the BlackBerry 10 OS and Android OS, in addition to BlackBerry 10 smartphones; and enterprise mobility administration and mobile security software, and a portfolio of enterprise software solutions and services that could be deployed across a range of ecosystems and devices. It also licenses QNX software products in embedded market; provides BlackBerry IoT Platform for the asset tracking industry; and offers operating systems, middleware, development tools, and professional services for connected embedded systems mainly in the automotive, medical, and industrial automation markets, in addition to provides professional services to support customers in developing their products. In addition, the company offers AtHoc software platform that facilitates people, devices, and organizations to exchange information in real time during business continuity and life safety operations; and BlackBerry Messenger platform for messaging, and for in-app advertising and virtual goods store. Further, it provides high-security voice and data encryption and anti-eavesdropping solutions; and virtual identity solutions for mobile operators, in addition to repairs, accessories, and other telecommunications services. BlackBerry Limited markets and sells its BlackBerry smartphone products to enterprise and consumer end users mainly through wireless communications carriers, in addition to through third party distribution channels. It serves enterprise customers, principally in regulated industries and select vertical markets, counting government, financial services, legal, and healthcare.

Fitbit Inc (NYSE:FIT), dropped -1.08% and closed at $14.61 in the last trading session. The last trading range of the stock ranges between $14.46 and $14.94. The company’s Market capitalization is $3.26 Billion with the total Outstanding Shares of 222.15 Million. Fitbit (FIT), the global leader in the connected health and fitness market, recently declared the launch of the Step It Up! Challenge with special guest U.S. Surgeon General Vivek Murthy – a two-week step challenge that encourages people of all ages, abilities and physical fitness levels to take steps toward a healthier lifestyle. The Challenge is designed to get communities across America moving more, using the power of friendly competition as motivation. People can sign up starting October 5, 2016 at www.StepItUpUSA.org using their Fitbit tracker or the Fitbit app to have their steps automatically count toward the challenge, or can sign in with a Google or Facebook account and manually input their steps or distance travelled throughout the challenge. Participants can compete in teams with friends, family, or co-workers, in addition to with some of the country’s leading athletes, fitness professionals and Fitbit Ambassadors. The challenge will run from October 13-26.

By issuing the Step It Up! Challenge, Fitbit is taking action to encourage physical activity, which has been linked to assisting combat high rates of chronic conditions, such as obesity, diabetes and cancer.1 According to the World Health Organization, more than one in three adults worldwide is overweight2, and cardiovascular disease is the leading global cause of death3. Robust scientific evidence shows that physical activity is critical for both preventing and treating many of the chronic conditions we face recently, and walking is one simple, yet impactful way people can improve their fitness level.4,5

“We know that an average of 22 minutes a day of physical activity – such as brisk walking – can significantly reduce the risk of heart disease and diabetes,” said Dr. Murthy. “The key is to get started because even a small first effort can make a big difference in improving the personal health of an individual and the public health of the nation. The Step It Up! Challenge is a great way to kick start this effort, increase activity and motivate friends and family to do the same with friendly competition.”

Prudential Financial Inc (NYSE:PRU), gained 0.26% and closed at $85.01 in the last trading session. The last trading range of the stock ranges between $84.24 and $85.94. During the 52-week trading session the minimum price at which share price traded, registered at $57.19 and reached to max level of $88.77. – United Technologies Corp. (UTX) recently declared two related actions that are expected to reduce the overall size of its pension obligations by about $1.77 billion.

First, United Technologies will transfer about $775 million of its outstanding pension benefit obligations under the UTC Employee Retirement Plan and the UTC Represented Employee Retirement Plan to The Prudential Insurance Company of America (PRU). This transaction is expected to close on October 12 with the purchase of a group annuity contract from Prudential. Prudential was selected in consultation with independent experts after a competitive bidding process. Prudential will assume the obligation and administrative responsibility for retirement benefits owed to about 36,000 United Technologies retirees and surviving beneficiaries who presently receive a benefit of $300 per month or less from the plans.

The United Technologies retirees and beneficiaries included in this group will not see any reduction in their monthly payments and will soon receive detailed information packages. United Technologies anticipates a seamless transition since Prudential already administers benefit payments for United Technologies retirees. “This transaction is an important part of United Technologies’ long-term strategy to reduce future pension risk and expense. It will not affect participants remaining in the plans and entrusts the assets leaving the plans to a highly rated insurance company whose core business is retirement security and administration of pension benefits,” said Robin Diamonte, United Technologies’ Chief Investment Officer.

Second, United Technologies has also implemented a program offering certain former U.S. employees or beneficiaries with a vested pension benefit an option to take a one-time lump sum distribution rather than future monthly pension payments. Upon completion of this program, United Technologies anticipates about 10,000 participants to take the lump sum offer. Payments will be paid from the retirement plans during late 2016. This action is expected to reduce United Technologies’ pension benefit obligations by about $995 million by year-end 2016.

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