NEW YORK (TheStreet) -- NEW YORK (TheStreet) -- BlackBerry Limited (BBRY) was climbing in early-morning trading Tuesday after CEO John Chen said the mobile-services provider plans to create a new security center in Washington to better guard against network breaches.
BlackBerry was gaining 4.7% to $8.39 to extend its advance over the past month to 43%.
Chen made the announcement in Las Vegas at the Consumer Electronics Show, explaining that the company's Security Innovation Center would "serve as a hub for collaboration with key government customers and other expert partners." BlackBerry, he said, plans to partner with the government and other companies to prevent cyber crime.
"The Washington, D.C.-based security innovation center will be focused on creating lasting partnerships that will encourage ongoing dialogue aimed at making better products and policy," Chen said.
The Waterloo, Ontario-based company also said on former Sony Ericsson CTO Ron Louks would join BlackBerry to head its devices unit.
TheStreet Ratings team rates BLACKBERRY LTD as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate BLACKBERRY LTD (BBRY) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself."