Let us start the week off with RIM. Looks like it was a pretty slow week for our boys in Canananadaâ€¦ (Yes thatâ€™s a typo on purpose, donâ€™t ask why.) RIM seems to be trying to rebound from the scandal that has really taken up most of their press in the past couple of weeks and it seems they are rebounding quite well.
Tuesday would have been a decent â€˜buyâ€™ day as their stock seemed to be on sale for $5 off a share. Ironically this happened on the day that the S&P has decided to keep RIM as a sell. S&P is citing that RIMs price is 29.3 times their fiscal 2008 estimate of $4.55 a share.
Wednesday we see a big rebound however thanks in part to BG, Engadget and BBCool all posting and flaunting new images of the 8300. This model has more people talking than the Pearl did. I personally cannot wait for this one. My 8800 aspirations have been put on the shelf for now. Rumors are also circulating that this thing could be out a month sooner than expected. Keep posted here for more info regarding the 8300.
That is really all there is for RIM this week. Let us move on to Palm news!
Tuesday Palm gains on talks of a buyout. Front runners for the rumored plan are Nokia and Motorola. Nokia has been very hush about this â€“ nothing really going on with their stock either as it has been a very slow week for them. Anyway, Palms stock jumps $1.00 a share and leveled off for the day.
Wednesday Palm and PORTA announce the launch of the Treo 680 in Ecuador. Stock increases to $19.50 a share. Things seem to be going well for Palm right?.. Not so fast.
Thursday, 9am CST: Palm drops $1.00 per share to about $18.50 due to warnings from Motorola Inc. that dampened investor speculations that they will buy the smartphone and handheld device maker.
Thursday, 9:45am CST: Palm down another $1.00 per share to roughly $17.50 as buyout hopes fade. Reuters is reporting that Palm shares fell a total of 8% as the anticipated buyout of the Treo makers has yet to materialize. One Wall Street analyst is stating that lower prices could hurt its quarterly resultsâ€¦ Thank you captain obvious.
Stay tuned to BlackBerryCool.com for up to date info regarding this potential buyout or non-buyout. You know, whatever. Either way the coverage will be here.
Slow week this week for Motorola as well, except for the Palm buyout talks. Bad news for these guys too.
Motorola Inc. lowered its first quarter sales forecast by more than $1 Billion. This caused a .75 cent drop in the price which is a huge drop for Motorola.
Thursday Motorola drops another $1 per share. They felt the same hit Palm did due to talks that they will not be buying out Palm. What is the lesson learned here kids? Thatâ€™s right, do not get involved with a sinking company, especially when you are not doing too hot yourself â€“ theyâ€™ll just bring you down with them!
Well that is all for this week. Next week weâ€™ll recap RIM as usual as well as the fallout of the Palm/Motorola/Nokia soap opera weâ€™re seeing. Also weâ€™ll peak at Apple for the first time in a month as well as Microsoft.
Until then, take care.