Posted on September 30, 2008, at 12:11 AM .
The state of the United States economy is such that there seems to be no sector that can avoid the chain of falling dominoes. Partially in reaction to the U.S. House of Representatives failing to pass the proposed $700 billion dollar bailout bill, the NASDAQ dropped 200 points yesterday, around 9% of its total value.
While RIM continued its downward slide, losing approx. 11% of its total value to close at $61.50/share, it was hardly the only technology company in our sphere to get hit. Apple dropped 17.4%, while Google and Adobe dropped around 11%.
For the employees and families of all those companies involved, we hope something can jumpstart the U.S. economy before things get worse. Check out our current Weekly Contest and let us know if you think RIM will be okay.
(via WSJ)
Posted on September 26, 2008, at 10:24 AM .
If you’re a RIM shareholder right now, you probably feel as though you woke up on the wrong side of the bed this morning. RIM’s stock opened 20 points down on the Nasdaq from its close last night at $97.53, and is now hovering around $73 per share. Checking the latest financial news today, it’s clear that this fall is reflective of myriad issues, ranging from RIM’s low Q3 forecast to the general economic climate. Here’s the best reports we’ve seen so far on the issue.
MarketWatch: Research In Motion sinks on disappointing forecast
“RIM’s business model is starting to show its pressure points. The company has become increasingly dependent on hardware sales. As a result, the timing of new product launches can have a big impact on their results,” wrote Brian Modoff of Deutsche Bank in a report, in which he cut the stock to a sell rating. “We think this trend will only worsen and their numbers are now, more than ever, dependent on a steady stream of hit products.”
Yahoo! Finance: Premarket roundup: Research in Motion
Analysts were thoroughly divided Friday about the meaning of BlackBerry maker Research in Motion Ltd.’s latest financial report, while investors united in a rush to dump the stock.
More RIM Financial News
Posted on September 26, 2008, at 9:29 AM .
After RIM had run through the relevant Q2 financial results and Q3 guidance yesterday during their Investor Conference Call, the floor was opened up so listeners could ask RIM co-CEO Jim Balsillie a variety of questions. While many today are focused upon RIM’s inability to keep down costs or hit earnings targets, I was quite intrigued by the answers as to why this had happened.
After the jump we have a breakdown of each answer Balsillie gave, from upcoming device promotion, prepaid BlackBerry data, strategic goals and new surprises.
Jim Balsillie’s comments during Investor Conference Call
Posted on September 25, 2008, at 3:16 PM .
UPDATE: MARKET REACTION TO RIM’S Q2 RESULTS
UPDATE: A SUMMARY OF JIM BALSILLIE’S COMMENTS DURING THE INVESTOR CONFERENCE CALL.
UPDATE: RIM’S STOCK PLUMMETING IN AFTER HOURS TRADING.
UPDATE: GO HERE TO READ THE COMPLETE CONFERENCE CALL LIVE BLOG
UPDATE: RIM’S Q2 FINANCIALS ARE NOW UP!!! GO HERE.
Today is a big day for RIM, which is releasing a limited Q2 financial earnings report today as soon as the market closes. We’re not very far off from the announcement, but we thought it best to round up everything the financial wonks are saying about the boys and girls from the ‘Loo today. View some key RIM Q2 financial metrics after the jump.
View RIM’s pre-Q2 expectations and key financials
Posted on August 19, 2008, at 8:51 AM .
The Wall Street Journal recently launched a BlackBerry app which lets you peruse the headlines of WSJ.com, MarketWatch.com, Barrons.com and AllThingsD.com. Tabbed navigation lets you quickly switch between sections, address book and social bookmarking integration lets you share articles easily, RSS reading and keyword monitoring let you track the news you care about, and stock info is readily available. Not a bad little, app, but vaguely Viigo-esque, no? (Edit: That would be because it’s actually powered by Freerange.) To give it a go, head on over to the WSJ.com Mobile Reader.
(via CB)
Posted on July 3, 2008, at 8:35 AM .
Any stock-slingers in the house might want to take a look at E*TRADE Mobile Pro for BlackBerry, which offers streaming quotes, live trading, and cash transfers all from your handheld. After checking out the demo, the software covers all the bases… You can set up watch lists, organize your portfolio, set up alerts, as well as keep an eye on the news from your favourite stocks. Looks like a solid package, and for free, it’s hard to go wrong. Head on over to etrade.com/mobile on your BlackBerry to try it out.
(via Rimarkable)
