Friday, July 31st36.4°C
26622
26337

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

25528


Recent Trending




Today's Market
S&P TSX14468.44+85.68
S&P CDNX594.31+6.01
DJIA17689.86-56.12
Nasdaq5128.28-0.50
S&P 5002103.84-4.79
CDN Dollar0.7640-0.0052
Gold1096.90+0.60
Oil47.22-1.69
Lumber252.30+0.50
Natural Gas2.883+0.062

 
Okanagan Companies
Pacific Safety0.17-0.01
Knighthawk0.010.00
QHR Technologies Inc1.42+0.00
Cantex0.035-0.005
Anavex Life Sciences0.9101+0.1101
Metalex Ventures0.05+0.00
Russel Metals19.40-0.05
Copper Mountain Mining0.79+0.01
Colorado Resources0.065+0.005
ReliaBrand Inc0.0049+0.0004
Sunrise Resources Ltd0.03+0.00
Mission Ready Services0.095-0.045
Decisive Dividend Corp2.55+0.05

 





FEATURED Property
22158034713 MacKinnon Road
3 bedrooms 4 baths
$2,395,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Chasing ducks

Photo: Thinkstock.comWhen businessmen tell me that being low priced is the only way to stay in business, I am skeptical. Price is the simplest way for a consumer to compare and is overused as the basi...


Taking care of business

Photo: Thinkstock.comRetirement as a goal has changed a lot over the years. There was a time, it was the only goal. You’d punch the clock and count the years until you could stop punching that t...


Income from home equity

Photo: Thinkstock.comWhen retirement funds run low, seniors often ask if tapping into the equity in their home is the right way to retain financial independence. To see if this option might be a good ...

_








Member of BC Press Council


26465