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US markets rallied; BlackBerry fell 9.5% on results; Rivian lost 7.6% on new risk factors

  • The Nasdaq rose 0.3% on Friday to close the session at 14,262 points.
  • BlackBerry fell 9.5% on Q4 results including lower than expected cybersecurity revenue.
  • Rivian shares lost 7.6% after the EV-maker outlined new risk factors.

The US markets rallied on Friday as the US jobs report for March showed payrolls rose by 431,000 and the unemployment rate fell to 3.6% as more Americans jumped back into the labour force.

The Dow Jones rose 0.4% to finish the trading day up 140 points to close at 34,818 points.

The tech heavy NASDAQ rose 0.3% to finish the trading day up 41 points to close at 14,262 points with Facebook and Tesla gaining 1.1% and 0.65% respectively.

One bitcoin is worth US$46,719 going into the Asian trading day.

The Australian dollar is firm against the major currencies and is buying 74.89 US cents.

BlackBerry fell 9.5% on Friday after the software company released fourth quarter and full year results. For the quarter, BlackBerry reported total company revenue of US$185m, non-GAAP operating profit was US$8m and net cash generated from operating activities was US$10m. Investors sold out of BlackBerry shares after the company reported cybersecurity revenue of US$122m, which fell short of market expectations.

Shares in EV-maker Rivian tanked 7.6% on Friday after the company filed its annual 10-K report with the SEC on Thursday. In the report, Rivian outlined new risk factors the company faces including changes to internal processes to accommodate for supply challenges resulting from Russia’s invasion of Ukraine.

And Boston Dynamics has expanded its robot range to now include ‘Stretch’ a rolling robot designed for moving boxes in warehouses. ‘Stretch’ has only just hit production mode and is already sold out.

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