Friday, December 19th0.6°C
24124
23664

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.

The Canadian Press


Read more Business News

24304


Recent Trending




Today's Market
S&P TSX14346.75+133.36
S&P CDNX665.50+6.47
DJIA17778.15421.28
Nasdaq4748.396+104.085
S&P 5002061.23+48.34
CDN Dollar0.8630-0.0004
Gold1200.80+6.1001
Oil54.72+0.61
Lumber336.00-0.90
Natural Gas3.668+0.026

 
Okanagan Companies
Pacific Safety0.13+0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.28+0.01
Cantex0.03-0.005
Anavex Life Sciences0.17+0.0041
Metalex Ventures0.055+0.005
Russel Metals26.00-1.18
Copper Mountain Mining1.57+0.03
Colorado Resources0.12+0.015
ReliaBrand Inc0.011-0.0089
Sunrise Resources Ltd0.055+0.005
Mission Ready Services0.225+0.005

 
23744


24200

FEATURED Property
19009594118 Gallaghers Blvd. S
3 bedrooms 3 baths
$675,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Parenthood: Estates, insurance & taxes

It is now even more important to ensure your loved ones are well looked if anything should happen to you. Here are a few topics to consider helping you prepare for some of the unexpected events that c...


Managing your sales team

Managing a sales team can be quite a challenge. Harnessing individual personality preferences and getting everyone focused on the same goals, moving at the same pace, and working in collaboration to d...


Working under the table

They say there are only two things that are certain in life: death and taxes. Not exactly an uplifting thought, but true nonetheless. Some people try to avoid paying tax by “working under the ta...

_





24111


Member of BC Press Council


22842