RIM Rising: Despite Bleak Outlook, CEO’s ‘Candid’ Talk ‘Refreshing’
Shares of Research in Motion (RIMM) are up 42 cents, or 3%, at $14.15 after the company last night missed fiscal Q4 estimates and said it would need to make “substantial changes” to its business as it faces increasing competition in the smartphone and tablet businesses. The morning’s rise is a big recovery from after-hours...
RIM Conf Call: ‘Substantial Change’ Needed, Says CEO Heins
During a conference call with Research in Motion (RIMM) this evening to discuss fiscal Q4 results that missed expectations, CEO Thorsten Heins, presiding over his first quarter as chief, said that he had spent his first ten weeks as performing “my own reality check on where the entire company really is” and that he had...
RIMM Off 2.6%: FYQ4 Misses; Balsillie Exits; Exploring Partnerships; Discontinues Forecasts
Shares of BlackBerry maker Research in Motion (RIMM) have been halted this afternoon ahead of the company’s impending fiscal Q4 report. The latest quote for the stock appears to have been $14.11, a 3% gain, at approximately 4:15 pm, Eastern. There is no indication yet from Nasdaq of the resumption trade time. Update: A report...
RIMM FYQ4 on Tap
Shares of Research in Motion (RIMM) are down a penny at $13.66 heading toward the company’s fiscal Q4 report for the three months ending in February, expected shortly after the closing bell. The Street has been modeling $4.54 billion in revenue and 81 cents EPS. Hence, the Street is expecting results below RIM’s own forecast...
RIM: Sterne Agee Sees ‘Relief Rally’; Canaccord, Wedge See Disappointment
More Street prognosticators are weighing in this morning in advance ofResearch in Motion's (RIMM) fiscal Q4 report this thursday, after the bell.
Canaccord Genuity's Mike Walkley reiterates a Hold rating on the shares and a $15 price target, writing that his "checks" show "weak sell-through" for the company's existing line of BlackBerrys based on version...
RIM: FBR Cuts Target to $14; Sees In-Line FYQ4, Lower ’13
FBR Capital’s Scott Thompson this afternoon reiterates a Market Perform rating on shares of Research in Motion (RIMM) while cutting his price target to $14 from $17, writing that the company’s fiscal Q4 will probably meet expectations, but that things will continue to deteriorate in coming quarters before they get better. Thompson expects “the business...
RIM: Developers to Get BB10 Phones in May, Says Bloomberg
Research in Motion (RIMM) shares rose into positive territory for a time earlier in the session, touching a high of $14.07, apparently driven by word that the company will give prototypes of its next version of the BlackBerry, based on the “BB10” operating environment, in May. Bloomberg’s Hugo Miller reports that “as many as 2,000...
RIM: FYQ4 Hit by Trail Off in BB7 Devices, Says Barclays
Barclays Capital’s Jeff Kvaal this morning reiterates an Equal Weight rating on shares of Research in Motion (RIMM) and joins the chorus of grim notes in advance of the company’s fiscal Q4 report that’s expected next Thursday, March 29th. “We believe BB7 products are aging rapidly,” writes Kvaal, based on his “checks,” predicting that the...
RIMM: Citi Repeats List of Reasons It Can Get Worse
Citigroup’s Jim Suva this evening in a note to clients reiterates a Sell rating on shares of Research in Motion (RIMM), under the heading “it’s going to get worse.” Where have I heard that phrase before with respect to RIM…? Ah, yes, Suva penned something similar back on December 9th, so today’s note is something...
Apple Tops RIM in Canada, Says Bloomberg
Apple (AAPL) and Research in Motion (RIMM) are the subject of an article this morning by Bloomberg’s Hugo Miller, who writes that Apple sold more smartphones in Canada last year than RIM, 2.85 million to 2 million, the first time the former has surpassed the latter’s shipments. The report, writes Miller, is based on data...
RIM: Morgan Stanley Ups Numbers, But Still Dour on FYQ4
Morgan Stanley’s Ehud Gelblum this morning reiterates an Equal Weight rating on the shares of Research in Motion (RIMM), writing that weak results in handsets from contract manufacturer Jabil Circuit (JBL) last night don’t bode well for RIM’s fiscal Q4 that ended last month, even though he raised his ratings for the quarter. Gelblum writes...
RIM Climbs on Chatter of Samsung Investment, BB10 Phones
Shares of Research in Motion (RIMM) are up 66 cents, or almost 5%, at $14.11 this morning, on no apparent news. Collin Gillis with BGC Partners, who has a Sell rating on the stock, tells me in a phone call this morning that the proximate cause, as far as he can tell, is discussion that...
