Blackberry (TSX:BB, NYSE:BB), stock gained 3% in premarket to $4.40, after it announced plans to spin off its Internet of Things (IoT) and cybersecurity business units. The plan would then be to move forward with a subsidiary initial public offering (IPO) for the IoT business during the next fiscal year. Read more
Chevron Corporation (NYSE:CVX) was nearly 1% lower in premarket, as workers at its iquified natural gas (LNG) terminals in Australia are reportedly mulling renewed strike action. Read more
Rivian Automotive Inc (NASDAQ:RIVN) stock reversed, falling 9.24% to $21.50 in premarket (after Wednesday’s 9.2% gain), following afterhours news that the Amazon-backed electric truck maker plans US$1.3 billion ‘green’ convertible bond issue.
It also said revenue for the third quarter is expected to come in at US$1.29-1.33 billion, up from just under US$540 million a year ago, which could beat the current Wall Street consensus of US$1.30 billion. Read more
Microsoft Corporation (NASDAQ:MSFT) and Amazon.com Inc (NASDAQ:AMZN) shrugged-off news of Britain’s anti-trust trust probe into their respective cloud services businesses which, according to a study by UK regulator Ofcom, have egress fees, discounts and technical barriers that hinder customers from switching or using multiple cloud providers. Read more