Hey guys â€“ welcome to Lock on Stocks. Let us get right into things. We are going to switch it up a bit and start off with Palm this week.
Only real stock worthy news from Palm this week was the release of the Treo 680 in Brazil. The 680 is made available through a partnership with mobile phone provider, Claro, which was founded in 2003.
Claro serves over 2,300 cities and is present in more than 150 countries around the world through roaming agreements.
The release raised the price of Palms stock about $0.07 a share up to $17.90.
In Motorola news, Motorola has decided to make the smartphone rugged with the release of the MC35. Motorola calls the MC35 an EDA or Enterprise Digital Assistant. It is targeting businesses with employees that hover between mobile office tasks and field mobile workers (such as sales agents and technicians).
The MC35 will be release on â€œThe New Cingularâ€ with Windows Mobile 5.0. (There is your Microsoft news for the week. I wish I could post more but there isnâ€™t anything else related to the mobile market this week.)
Motorolaâ€™s stock price dropped about $0.10 per share. Analysts feel that instead of creating a new smartphone, Motorola would be wise to develop different models of the â€˜Qâ€™ that could use the features added in this model
Now weâ€™ll move on to RIM. RIM plans on seeing little fourth-quarter restatement impact. RIM is stating it expects the potential impact of any restatement on preliminary fourth-quarter operating results will me immaterial.
The company plans to disclose preliminary fourth-quarter results on April 11th.
Also this week it was cited that RIM is set to take advantage increasing smartphone sales. According to Merrill Lynch analyst Vivek Arya, smartphone sales are blowing up and no one has a better opportunity to take advantage than our boys from Canada.
â€œWe believe RIM is uniquely positioned to benefit from a multi-year acceleration in smartphone sales,â€ says Arya.
Adding RIMâ€™s new product line-up, including multi-media, GPS and mobile commerce features, will drive its next leg of growth.
That report shot RIMâ€™s stock up $5 per share to well over $142.
Yesterday Analyst Peter Misek of Canaccord Adams labeled RIM a â€œBUY.â€ The target price: get this -> $180 a share!! RIMâ€™s ASPs are among the lowest in the industry coupled with a great product line. This gives the company a strong competitive edge. The analyst adds that the company has the ability to sustain its robust growth going ahead.
Well that is all for this week folks. Come back next week for another episode of LoS.