Release and Availability of the 2024 Universal Registration Document Clichy, France – March 27, 2025 – The 2024 Universal Registration Document (French version) was filed with the A.M.F (Autorité des Marchés Financiers: French Financial Markets Authority) on March 27, 2025. The document is available on BIC’s website in French and English in the Investors’ section under Universal Registration Document as well as on the website of the A.M.F (www.amf-france.org). It is available to the public under current reg ...

BlackBerry Limited (BB) stock’s newfound momentum is impressive. It has surged 47.8% in the past year, significantly outpacing the Computer Software industry’s, broader Zacks Computer & Technology sector and the S&P 500 composite’s growth of 0.5%, 12.6% and 13.8%, respectively. Blackberry has also outperformed peers within the cybersecurity space, such as Fortinet (FTNT) and CrowdStrike Holdings, Inc. (CRWD) , which have gained 41.8% and 5.1%, respectively, over the same time frame. BlackBerry gained 2.5% i ...

Company Overview - As of February 28, 2025, Société BIC has a total of 41,621,162 issued shares [2] - BIC is a global leader in stationery, lighters, and shavers, with a presence in over 160 countries and a workforce of over 14,000 employees [2] - The company is recognized for its commitment to sustainability and education, and its product portfolio includes well-known brands such as BIC® 4-Color™, BodyMark®, and Tipp-Ex® [2] Voting Rights - The total number of voting rights as of February 28, 2025, is 59,845,759 [7] - Excluding shares without voting rights, the number of voting rights is 59,364,136 [7]

Summary of Key Points Core Viewpoint - Société BIC has disclosed its share buy-back transactions for February 2025, indicating a strategic move to manage its capital and enhance shareholder value [2]. Group 1: Share Buy-Back Transactions - On February 24, 2025, BIC purchased 10,000 shares at an average price of €60.90, totaling €609,000 [2]. - On February 25, 2025, BIC bought another 10,000 shares at an average price of €59.75, amounting to €597,500 [2]. - On February 28, 2025, BIC acquired 8,126 shares at an average price of €58.86, resulting in a total expenditure of €478,284.98 [2]. - The total number of shares repurchased in February 2025 was 28,126, with an average weighted price of €59.90, leading to a total investment of €1,684,784.98 [2]. Group 2: Company Overview - BIC is a global leader in stationery, lighters, and shavers, with a commitment to delivering high-quality and affordable products for over 80 years [3]. - The company operates in over 160 countries and employs more than 14,000 team members worldwide [3]. - BIC's product portfolio includes well-known brands such as BIC® 4-Color™, BodyMark®, and Tipp-Ex®, among others [3]. - BIC is listed on Euronext Paris and is part of the SBF120 and CAC Mid 60 indexes, highlighting its significant market presence [3].

Core Viewpoint - BlackBerry has experienced significant stock price growth over the past six months, nearly doubling in value and reaching a new 52-week high, driven by positive business developments and financial results [1][3]. Financial Performance - In December, BlackBerry reported its third-quarter results for fiscal 2025, exceeding revenue targets in its cybersecurity and IoT segments, and raising the lower end of its full-year guidance for IoT [3]. - Despite recent positive cash flow, BlackBerry's top line has declined by 35% over the past three quarters, totaling $391 million, with operating income at $7 million compared to $25 million in the same period last year [4][5]. - The company has burned through $25 million in cash over the last nine months of operations, indicating potential volatility in cash flow [5]. Strategic Moves - BlackBerry's acquisition of AI cybersecurity company Cylance for $1.4 billion in 2018 has turned out to be a poor investment, as the company announced plans to sell Cylance for only $160 million and 5.5 million shares in December 2024 [6][7]. - The inability to effectively integrate Cylance into its operations raises concerns about BlackBerry's capital allocation and operational efficiency [7]. Investment Considerations - Despite recent stock performance, BlackBerry remains down 17% over a five-year period, highlighting challenges in generating sustainable growth [8]. - The stock is characterized by high volatility, making it a speculative investment, and the company's fundamentals require significant improvement before it can be considered a viable option for most investors [9].

Investment Strategy - The company employs a contrarian investment style, focusing on high-risk, illiquid options and maintaining a balanced portfolio of shares and call options [1] - The investment timeframe typically ranges from 3 to 24 months, targeting stocks that have recently experienced sell-offs due to non-recurrent events [1] Stock Screening Process - The company screens thousands of stocks, primarily in the US, looking for those with insider buying at lower prices following sell-offs [1] - Fundamental analysis is utilized to assess the health of companies, including their leverage and financial ratios compared to sector and industry averages [1] Technical Analysis - Technical analysis is employed to optimize entry and exit points, using multicolor lines for support and resistance levels on weekly charts [1] - Trend lines are drawn in multicolor patterns to aid in analysis [1]

Core Viewpoint - BlackBerry has been upgraded to a Zacks Rank 2 (Buy) due to an upward trend in earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Movement - The Zacks rating system emphasizes the correlation between changes in earnings estimates and near-term stock price movements, indicating that revisions in earnings estimates can lead to significant price changes [4][6]. - Institutional investors play a role in this relationship, as they adjust their valuations based on earnings estimates, which can lead to buying or selling of shares and consequently affect stock prices [4]. BlackBerry's Earnings Outlook - BlackBerry is projected to earn $0.01 per share for the fiscal year ending February 2025, reflecting a year-over-year decline of 80% [8]. - Despite the decline in earnings per share, analysts have raised their estimates for BlackBerry, with the Zacks Consensus Estimate increasing by 50% over the past three months [8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 (Strong Buy) stocks historically generating an average annual return of +25% since 1988 [7]. - BlackBerry's upgrade to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, indicating a strong potential for market-beating returns in the near term [10].

Core Insights - BlackBerry Limited provides intelligent software and services for enterprises and governments, focusing on safety, security, and reliability [2][3] - The company is based in Waterloo, Ontario, and serves major automakers and industrial giants, enabling them to unlock transformative applications and new revenue streams [2] - BlackBerry is recognized for its expertise in Secure Communications and offers a comprehensive portfolio for mobile fortification and critical events management [2] Company Overview - BlackBerry operates under the ticker symbols TSX: BB and NYSE: BB [2] - The company leverages Artificial Intelligence and Machine Learning to enhance its cybersecurity solutions [2] - BlackBerry's foundational software is designed to support innovative business models without compromising on operational resiliency [2]

Group 1 - The article emphasizes the unique investment approach of "First Principles," which focuses on breaking down complex problems in finance and technology to identify overlooked investment opportunities [1] - The analyst has a strong background in investment, private equity, and venture capital, demonstrating a proven track record of delivering strong returns [1] - The content on Seeking Alpha highlights themes of emerging technologies, sustainable investing, and the intersection of innovation and finance, aiming to share insights and foster collaboration among investors [1]

Core Points - The Board of Directors of Société BIC acknowledged Maëlys Castella's decision not to seek reelection as Director, with her term expiring in May 2025 [2] - The Board unanimously decided to propose Esther Gaide as an Independent Director at the upcoming Shareholders Meeting scheduled for May 20, 2025 [2][3] - Esther Gaide is recommended to be appointed as Chair of the Audit Committee and a member of the Remuneration Committee, pending shareholder approval [3] Background of Esther Gaide - Esther Gaide is a graduate of ESSEC and a chartered accountant, with a career beginning in external auditing at PricewaterhouseCoopers and Deloitte [4] - She has held various finance positions at the Bolloré Group and served as Chief Financial Officer at Technicolor and Elior Group [4] - Currently, she is a Director and Chair of the Audit Committee for Forvia and Iliad SA [4] Acknowledgment from the Board - Nikos Koumettis, Chair of the Board, expressed gratitude to Maëlys Castella for her contributions, especially as Chair of the Audit Committee, and welcomed Esther Gaide [5] Company Overview - BIC is a global leader in stationery, lighters, and shavers, known for its commitment to high-quality and affordable products [6] - The company operates in over 160 countries with a workforce of more than 13,000 employees [6] - BIC is listed on Euronext Paris and included in the SBF120 and CAC Mid 60 indexes, with a strong focus on sustainability and education [6]