Why BlackBerry, AbbVie, and bluebird bio Jumped Today

Thursday was a quiet day on Wall Street, with major benchmarks remaining close to the unchanged level. Sentiment among market participants remained relatively favorable in the aftermath of the release of the Trump administration's tax reform proposal, although a closer look at the broad framework for tax changes drew mixed responses from policymakers and lawmakers. Signs of strong economic activity helped rally certain parts of the market, and several individual stocks posted solid gains. BlackBerry (NASDAQ: BBRY), AbbVie (NYSE: ABBV), and bluebird bio (NASDAQ: BLUE) were among the best performers on the day. Below, we'll look more closely at these stocks to tell you why they did so well.

Shares of BlackBerry jumped more than 13% after the release of the company's fiscal second-quarter financial report. The smartphone pioneer said that it set a record for sales of software and services offerings, which shows the commitment that BlackBerry has had to move its business away from lower-margin device sales toward the better profitability that non-hardware segments offer. The company has seen early success with initiatives to capture a greater portion of the automotive market, and its enterprise business is also thriving. Best of all, BlackBerry managed to bring in a surprise profit, and the company hopes to keep that momentum going forward throughout the fiscal year.

BlackBerry has moved beyond only selling devices like this one. Image source: BlackBerry.

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Source: Fool.com