Tech Stocks Surge as Retail Slumps in Uneven Earnings Week

BlackBerry stock up 13% on expanded partnership with Nvidia

BlackBerry Ltd. saw its share price jump about 13% after the company expanded its partnership with tech heavyweight Nvidia. The Waterloo-based software developer closed the trading day at $7.50 following the announcement that its developers will be able to build and deploy artificial intelligence systems for Nvidia’s IGX Thor platform.

IGX Thor is designed for regulated and safety-critical environments such as autonomous systems, medical and surgical robotics, advanced medical imaging, and industrial automation. The expanded collaboration positions BlackBerry to increase its footprint in AI-driven, mission-critical software for regulated industries.

Once known for its smartphones, BlackBerry has shifted its focus toward embedded and vehicle software, secure communications and software for medical devices. Its move to deepen ties with Nvidia aligns with a broader industry trend: companies are pairing specialized software expertise with powerful AI hardware platforms to deliver certified, safety-conscious AI systems.

Lululemon shares tumble 12% after former Nike exec named new CEO

Lululemon Athletica Inc. experienced a roughly 12% decline in its share price a day after naming Heidi O’Neill, a former Nike executive, as its new CEO. Shares were trading near US$144 on the Nasdaq in mid-afternoon trading. The market reaction reflected differing views among investors about the skills needed to guide the company at this stage.

Some industry analysts suggested the market had hoped for a turnaround specialist given competitive pressures and a softer share price. Others noted O’Neill’s deep experience in activewear and customer-focused brands, pointing to her track record in growth and customer engagement. She is due to take the helm on Sept. 8 and will likely face scrutiny from shareholders advocating for changes to management and the board.

Teck Resources Q1 profit more than doubled compared with year ago

Teck Resources Ltd. reported first-quarter results that showed profits more than doubled year over year, supported by record quarterly copper sales volumes and resilient commodity prices. The company posted a profit attributable to shareholders of $819 million, or $1.67 per diluted share, compared with $370 million, or $0.73 per diluted share, in the prior-year quarter. On an adjusted basis, earnings were $1.75 per diluted share versus $0.60 a year earlier.

Revenue rose to $3.94 billion from $2.29 billion, reflecting stronger commodity markets and higher sales volumes. Teck also continues to work toward completing its previously announced merger with Anglo American plc; the deal remains subject to customary closing conditions and regulatory approvals.

Rogers Communications reports first-quarter profit and revenue up from year ago

Rogers Communications Inc. posted a first-quarter profit attributable to shareholders of $438 million, up from $280 million a year earlier, as revenue grew 10% to $5.48 billion. Reported profit equated to $0.80 per diluted share, compared with $0.50 per diluted share in the same quarter a year ago. On an adjusted basis, Rogers earned $1.01 per diluted share, slightly higher than the prior year’s adjusted result.

In its outlook, Rogers lowered its expected capital expenditures for the year to a range of $2.5 billion to $2.7 billion, down from earlier guidance of $3.3 billion to $3.5 billion. At the same time, the company raised its forecast for free cash flow for 2026 to between $4.1 billion and $4.3 billion, up from a prior range of $3.3 billion to $3.5 billion.

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