Tag: goldman sachs

Goldman Sachs Calls BlackBerry Toch 9800 Launch Event Underwhelming


blackberry torch

Goldman Sachs is calling the BlackBerry Torch launch “underwhelming” citing that there were virtually no retail stores sold out of the device. This isn’t anything new for RIM, as their devices don’t garner the same hype as other smartphone manufacturers and sales tend to accumulate over longer periods.

The firm noted that nearly all of the stores they called did not sell out of the device. Also the checks showed that the vast majority of Torch sales were driven by upgrades from existing BlackBerry subscribers.

It’s good to see that a lot of BlackBerry users are upgrading to the Torch because it’s a really solid device for those who have been BlackBerry users for a long time.

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Goldman Sachs backs RIM stock and shares rise


Shares of RIM rose after a Goldman Sachs analyst said she would buy the stock in advance of its fiscal fourth-quarter report, which is scheduled for April 2. Shares rose $1.89, or 4.6 percent, to $44.87 in afternoon trading.

In a note to clients, Goldman analyst Simona Jankowski kept her “Buy” rating and $57 price target for the stock, predicting RIM will meet fourth-quarter and first-quarter guidance – something she thinks will help its shares.

Although RIM has said that its fourth-quarter earnings will likely come in at the low end of its forecast range, which had called for 83 cents to 91 cents per share, the news will surely help shares regardless.

RIM is also predicting that revenue will be at or near the midpoint of its earlier projection, which was for $3.3 billion to $3.5 billion.

Goldman Sachs aren’t the only people backing RIM either. Analysts polled by Thomson Reuters are expecting a profit of 85 cents per share on $3.42 billion in revenue.