Monday, July 28th32.3°C
21452
21755

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




Recent Trending




Today's Market
S&P TSX15445.22-9.82
S&P CDNX1019.852.41
DJIA16982.5922.02
Nasdaq4444.909-4.655
S&P 5001978.91+0.57
CDN Dollar0.9257-0.0004
Gold1305.20+2.10
Oil101.45-0.22
Lumber321.20-1.80
Natural Gas3.729-0.018

 
Okanagan Companies
Pacific Safety0.195+0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.150.00
Cantex0.065-0.005
Anavex Life Sciences0.265-0.01
Metalex Ventures0.08+0.01
Russel Metals35.15-0.21
Copper Mountain Mining2.97+0.15
Colorado Resources0.225+0.015
ReliaBrand Inc0.10+0.019
Sunrise Resources Ltd0.02-0.03
Mission Ready Services0.19+0.01

 





FEATURED Property
20267773096 Lakeview Cove Road
3 bedrooms 3 baths
$979,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Take charge of your debt

Photo: Thinkstock.comWays to reduce your Debt:Make a budget and get budget counselingA basic first step for debt reduction is to prepare a budget and plan your spending. Once you have a budget, you mu...


Geopolitical tensions rattle markets

The Big Picture Geopolitical tensions rattle markets The spectre of rising geopolitical tensions in Ukraine and Gaza cast a shadow over an otherwise positive week in the markets. News that a passenger...


Labour shortage in BC

The mainstream media are finally waking up to something unusual in British Columbia – a labour shortage. If the experience of Alberta is a guide to our own future, the highly skilled labour will...

_








Member of BC Press Council


22758