10 Biggest Gainers of Last Week

2. BlackBerry Ltd. (NYSE:BB)

Shares of Blackberry traded sideways during last week’s trading before gaining momentum to end the day up by 34.18 percent to $3.68 apiece from the $2.75 registered on Monday.

Investors snapped up shares of BlackBerry following news that it beat its earnings projections in its fiscal third quarter of the year—with a net income of $12 million and revenues of $162 million.

The revenue figure included $19 million in revenue from Cylance, BlackBerry’s cybersecurity arm.

Last week, Blackberry announced that it agreed to sell the Cylance unit to Artic Wolf Networks Inc for $160 million and 5.5 million Arctic Wolf shares. After allowing for the purchase price adjustments, BlackBerry will receive approximately $80 million of cash at closing and approximately $40 million of cash one year following the closing.

Blackberry said that the proposed transaction is subject to customary closing conditions and is expected to close in BlackBerry’s fourth fiscal quarter.