From 24/7 Wall St. · David Moadel · · 50s
BlackBerry Stock Surges on First Truck Platform Deal
BlackBerry jumps 7% after Coretura picks its QNX-based Alloy Kore for truck safety systems.
In brief
BlackBerry jumps 7% after Coretura picks its QNX-based Alloy Kore for truck safety systems. BlackBerry shares rose 7% after Coretura selected its Alloy Kore platform for commercial trucks, with no revenue timeline or contract value disclosed. Originally reported by 24/7 Wall St..
Coretura picks BlackBerry
Coretura selected BlackBerry's Alloy Kore for its software-defined vehicle platform.
“Coretura is building the software-defined vehicle platform this industry needs”
First named design win
BlackBerry's Alloy Kore gets first named customer for commercial trucks.
“they have chosen alloy kore as the certified foundational software layer beneath it”
No revenue timeline
Deal lacks contract value, revenue split, or revenue recognition timeline.
“what alloy kore ultimately adds to qnx revenue therefore stays unproven”
Stock surges 7%
BlackBerry stock jumps 7% in early Tuesday trading.
“blackberry stock is at $9.13, up 7% in tuesday morning trading”
Market reaction
Aptiv edges up 1% while Mobileye barely moves.
“mobileye is at $8.01, up 0.3 percent essentially unmoved on the qnx news”
Earnings next week
BlackBerry reports earnings Thursday with no revenue details.
“the company has confirmed earnings before the market opens on september 24”
What happens next
Traders watch if BlackBerry holds gain before earnings report.
“traders can watch for whether blackberry holds its early gain into the regular session”
Here's the gist
BlackBerry shares rose 7% after Coretura selected its Alloy Kore platform for commercial trucks, with no revenue timeline or contract value disclosed.
