Primecap Management boosts its stake in Blackberry to 10.4 per cent
TORONTO - BlackBerry (TSX:BB) appears to be getting a vote of confidence from California-based investment firm Primecap Management Co., which has boosted its stake in the company by about 60 per cent.
The second-largest stakeholder in BlackBerry now holds 54.9 million shares, or about 10.4 per cent of the company's outstanding equity, according to figures filed with the Securities and Exchange Commission.
That's an increase from a 6.5-per cent stake as of Dec. 31, 2013.
BlackBerry has been making significant changes to its operations under the leadership of John Chen, who previously helped rescue technology firm Sybase.
In its most recent financial results, the company posted a first-quarter loss of US$423 million or 80 cents per share, which on an adjusted basis was a smaller loss than analysts expected.
Chen aims to make Blackberry break even by the end of next February.
Read more Business News
- Paddlers descend on city hallKelowna - 5:00 am
- Fire crews take out the trashKelowna - 6:14 am
- Mystery weed identifiedKelowna
- Double rainbow showKelowna
|QHR Technologies Inc||1.23||+0.01|
|Anavex Life Sciences||0.185||0.00|
|Copper Mountain Mining||2.51||-0.01|
|Sunrise Resources Ltd||0.065||+0.045|
|Mission Ready Services||0.335||-0.005|
Part 2 of 2 to read Part 1, click here. 5. Dial down your vacations. New York is out. Maybe Buffalo. For West coast, maybe Seattle instead of Hawaii. Use sites like Airbnb (aribnb.ca) to find ch...
Niche food producer “Sweets from the Earth” thrives using innovation, uniqueness and an unwavering focus on quality. A neighbour’s stew turned Ilana Kadonoff off meat at the age of s...
Recently I had the privilege of working alongside André Voskuil, a local guru in the world of Alternative Financing. André has quite the reputation in the world of direct investments as ...