10 Companies Jump on Better Earnings, Outlook

7. BlackBerry Ltd. (NYSE:BB)

BlackBerry rose for a second day on Wednesday, jumping 9.96 percent to close at $5.08 each as investors took heart from news that it successfully divested its money-losing Cylance cybersecurity business to Arctic Wolf.

In a statement, BlackBerry CEO John Giamatteo expressed satisfaction with the closing of the deal, saying that BlackBerry will continue to engage with Arctic Wolf as a customer and reseller and will remain a shareholder of the company.

BlackBerry acquired Cylance for $1.4 billion in 2019 and sold it to Arctic Wolf for only a fraction of its cost—$160 million.

Once a dominant player in the smartphone market, BlackBerry switched its focus to software for devices and autonomous vehicles.

In October last year, it told investors that the Cylance unit was expected to lose $51 million in 2024.