BlackBerry: A High Change Turnaround After Cutting Cylance To Power QNX Expansion
BlackBerry (BB) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
BlackBerry's strategic pivot to software, focusing on IoT and cybersecurity, has driven a significant stock rally and renewed investor confidence. The QNX unit's robust growth in the automotive and industrial sectors, along with strategic partnerships, positions BlackBerry for long-term success. The sale of Cylance's assets enhances BlackBerry's profit margins, allowing a stronger focus on its core Secure Communication business.
BlackBerry (BB -3.13%) stock is surging higher in this week's trading. According to data from S&P Global Market Intelligence, as of noon ET this Friday, the company's share price was up 9.7% from last week's market close.
BlackBerry (BB) closed the most recent trading day at $5.91, moving +1.55% from the previous trading session.
BlackBerry (BB 10.44%) stock is surging in Wednesday's trading. The tech company's share price was up 9.7% as of 3:30 p.m.
BlackBerry Limited (NYSE:BB ) Wolfe Research Auto, Auto Tech and Semiconductor Conference Call February 12, 2025 12:00 PM ET Company Participants John Wall - COO, QNX & Head, Product Engineering Tim Foote - CFO Conference Call Participants Shreyas Patil - Wolfe Research Shreyas Patil [Call Starts Abruptly] third parties may create. And in many ways, QNX has become the go-to OS provider for automakers.
BB's improving financial performance, strategic initiatives/collaborations and focus on IoT and Secure Communications units position it for long-term growth.
According to data compiled by S&P Global Market Intelligence, BlackBerry (BB 1.74%) stock was quite the outperformer over the past five trading days, with a more than 18% gain. Investors cheered the closing of an asset sale by the veteran Canadian tech company, in a deal that was announced toward the end of 2024.
BlackBerry (BB) concluded the recent trading session at $5.16, signifying a +1.57% move from its prior day's close.
Here is how BlackBerry (BB) and Ametek (AME) have performed compared to their sector so far this year.
BB sells its Cylance endpoint security assets to Arctic Wolf for $160 million in cash and equity.