The Waterloo, Ont.-based software developer’s share price closed the trading day at $7.50. The rise came after BlackBerry announced it has expanded a partnership that will allow its developers to build and deploy AI systems for Nvidias’ IGX Thor platform.
Nvidia’s IGX Thor is meant to be used in regulated environments for things like autonomous, humanoid and surgical robotics, medical imaging, and industrial automation.
BlackBerry made its name in the smartphone business but has since transitioned to providing software for vehicles, medical devices and secure communications.
Nvidia is one of the world’s most prominent tech companies, largely because of the graphics processing units it develops, which power artificial intelligence systems, data centres, and advanced computers.
Lululemon shares tumble 12% after former Nike exec named new CEO
Lululemon Athletica Inc.’s share price slid by almost 12% a day after the retailer named a new CEO. The Vancouver-based company’s shares were trading on the Nasdaq for about US$144 around mid-afternoon.
BNP Paribas Equity Research senior analyst Laurent Vasilescu says the share price drop is a sign that the market is disappointed Lululemon chose former Nike executive Heidi O’Neill as its next CEO. He says O’Neill is more of a growth CEO and many feel Lululemon is in need of a turnaround executive instead.
However, Neil Saunders, managing director at consulting and analytics firm GlobalData, thought she’s a good choice because she has experience in activewear and has sat on the boards of many customer service-focused companies.
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O’Neill will start Sept. 8. She is likely to face immediate pressure from shareholders, including estranged founder Chip Wilson, who have been lobbying for their own CEO and board member picks, claiming the company needs to better address its lower share price and many competitors.
Teck Resources Q1 profit more than doubled compared with year ago
Teck Resources (TSX:TECK.B)
Numbers for its first quarter:
Profit: $819 million (up from $370 million a year ago)
Revenue: $3.94 mbillion (up from $2.29 billion a year ago)
Teck Resources Ltd. reported its first-quarter profit more than doubled compared with a year earlier, helped by record quarterly copper sales volumes and strong commodity prices.
The mining company says it earned a profit attributable to shareholders of $819 million or $1.67 per diluted share for the quarter, up from $370 million or 73 cents per diluted share a year earlier. On an adjusted basis, Teck says it earned $1.75 per diluted share in its latest quarter, up from 60 cents per diluted share in the same quarter last year.
Revenue for the quarter totalled $3.94 billion, up from $2.29 billion.
The results came as Teck continues to work to complete its merger with Anglo American plc that was announced last year. Shareholders voted to approve the deal in December, but the company says it remains subject to customary closing conditions, including regulatory approvals.
Rogers Communications reports first-quarter profit and revenue up from year ago
Rogers Communications Inc. (TSX:RCI.B)
Numbers for its first quarter:
Profit: $438 million (up from $280 million a year ago)
Revenue: $5.48 billion (up from $4.98 billion a year ago)
Rogers Communications Inc. reported a first-quarter profit attributable to shareholders of $438 million, up from $280 million a year earlier, as its revenue rose 10%. The company says the profit amounted to 80 cents per diluted share for the quarter ended March 31, up from 50 cents per share in the same quarter last year.
On an adjusted basis, Rogers says it earned $1.01 per diluted share, up from an adjusted profit of 99 cents per diluted share a year earlier.
