Why BlackBerry Stock Is Soaring Today

(NYSE: BB) stock is posting big gains in Monday's trading. The company's share price was up 11% as of 11:15 a.m. ET. Meanwhile, the S 500 (SNPINDEX: ^GSPC) was up 1.2%, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) was up 1.9%.

BlackBerry stock is surging today thanks to a series of announcements from the company's QNX division, which is focused on creating software for vehicles. In addition to announcing a new software platform and developer outreach initiatives, QNX also issued some exciting partnership news.

On Jan. 2, BlackBerry published a press release announcing that it was renaming its BlackBerry IoT division QNX. Investors didn't have to wait long to get more substantive news about what the business unit is up to.

Source Fool.com