Tag: FinancialPage 2 of 19

Viigo launches tools for financial advisors from Dynamic Funds


viigo for financial advisors

Viigo’s updates just keep coming. Their latest update includes a partnership with Dynamic Funds to make online content and support tools for financial advisors easily accessible on a Blackberry.

The latest channel addition will get you over 300 funds with information on daily change by value and percentage, the closing price and the previous day’s price. There is also a news channel that features commentary from Dynamic portfolio managers, a calendar that details upcoming events such as webinars, practice management resources and audio podcasts.

Grab App World from your BlackBerry Browser and download Viigo for the latest updates.


Telus Q4 profit down, revenue up


Telus posted their Q4 2008 financial results today, reporting a drop in profit, but growth in revenue. Telus’ Fourth-quarter earnings fell to C$285 million (US$231.7 million), or 89 Canadian cents a share, from C$400 million, or C$1.22 a share, a year earlier. Telus blamed the loss in profit on fewer tax-related gains and increased spending on restructuring. Telus recorded favorable tax-related adjustments of C$32 million, compared with C$143 million a year earlier. It also said restructuring costs increased by C$32 million.

On the positive side, revenue rose 5.3% to C$2.45 billion on growth in wireless revenue, as wireless subscribers spent more on text messaging and social networking. Telus stated that more subscribers were picking up feature-rich smartphones, like the BlackBerry, and using services like messaging and Facebook, which boosts data revenue.

|via Reuters|

Certicom opts for a cease trade order, RIM ‘disappointed’


CerticomThe RIM/Certicom takeover is starting to get messy. After urging their shareholders to take no action towards RIM’s hostile takeover of the encryption software company, Certicom intends to apply to the Ontario Superior Court of Justice and the Ontario Securities Commission for an injunction and cease trade order, respectively, preventing RIM from acquiring Certicom shares under RIM’s original offer of CDN $1.50 per share. Here’s what RIM had to say publicly in response:

While this course of conduct is consistent with Certicom’s past conduct in rebuffing RIM’s overtures to conclude a negotiated transaction with Certicom, RIM is disappointed that Certicom’s directors are again attempting to keep the decision as to whether to accept RIM’s offer out of Certicom shareholders’ hands.

RIM understands that the basis of the injunction and cease trade applications is Certicom’s allegation that RIM used confidential information contrary to the terms of agreements entered into between RIM and Certicom, and an alleged related failure by RIM to make proper disclosure in its offer to purchase and circular sent to Certicom’s shareholders. RIM intends to vigorously oppose Certicom’s allegations.

RIM also said they plan to bring an application to the Ontario Securities Commission to cease trade Certicom’s shareholder rights plan. Can’t RIM and Certicom just get into the holiday spirit and work things out?

|via Reuters|


RIM’s stock jumps on Q4 promises


A quick look at RIM’s stock on Yahoo! Finance shows that the Waterloo company has jumped a quick $3 from close yesterday, roughly 8% of their total share price, to $41.50. Analysts are attributing the minor (but welcome) bump not so much to yesterday’s fiscal Q3 2009 earnings report, but RIM’s guidance for Q4.

While analysts had expected revenue of $2.97 billion and earnings per share of 83 cents on average, RIM is expecting Q4 sales of $3.3 billion to $3.5 billion and earnings of 83 to 91 cents per share. These figures are being attributed to a “record number” of Q4 device shipments, likely due to multiple launch delays.

If RIM has the quarter in Q4 they wanted to have in Q3, expect the market to respond in a big way. For now, it’s cautious optimism to promises of future gains.

|via Reuters|


LIVE BLOG: RIM Conference Call


Jim Balsillie

RIM’s fiscal Q3 2009 statement has been filed and the investor conference call is about to begin. Join in as we liveblog the hell out of it.

RIM conference call live blog!

Research In Motion Reports Third Quarter Results


Press Release

RIM logoResearch In Motion Limited (RIM) (NASDAQ: RIMM)(TSX: RIM), a world leader in the mobile communications market, today reported third quarter results for the three months ended November 29, 2008 (all figures in U.S. dollars and U.S. GAAP, except where noted). The third quarter results reported today by RIM are in line with the preliminary third quarter results reported by RIM on December 2, 2008.

Revenue for the third quarter of fiscal 2009 was $2.78 billion, up 7.9% from $2.58 billion in the previous quarter and up 66.3% from $1.67 billion in the same quarter of last year. The revenue breakdown for the quarter was approximately 81% for devices, 13% for service, 2% for software and 4% for other revenue. During the quarter, RIM shipped approximately 6.7 million devices.

Approximately 2.6 million net new BlackBerry subscriber accounts were added in the quarter. At the end of the quarter, the total BlackBerry subscriber account base increased from the prior quarter by approximately 14% to approximately 21 million.

“We are pleased to report record revenue results for the third quarter and we have entered the fourth quarter with strong momentum despite the challenging general economic conditions. In fact we have enjoyed our best ever start to the holiday buying season over the past few weeks,” said Jim Balsillie, Co-CEO at RIM. “RIM launched an unprecedented number of BlackBerry smartphones in the third quarter and these new products are being adopted at an even faster pace than we expected. Our industry leading product portfolio is positioned well to capitalize on the increasing market opportunity in the fourth quarter of fiscal 2009 and beyond.”

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