Filed under: Earnings reports, Analyst upgrades and downgrades, Microsoft (MSFT), Motorola (MOT), Nokia Corp. (NOK), Research in Motion (RIMM), Technical Analysis, Stocks to Buy, Technology
Research In Motion (NASDAQ: RIMM) is
a leading provider of wireless communications hardware, software and services. Company devices allow access to email, telephone, messaging, internet and intranet-based applications. RIM products include the BlackBerry wireless platform and the RIM Wireless Handheld product line. The firm also provides software development tools and makes radio-based modems that other manufacturers incorporate into their portable devices. Competitors include Microsoft (NASDAQ: MSFT), Motorola (NYSE: MOT) and Nokia (NYSE: NOK).
RIM surprised the Street last week, when it reported Q3 EPS of 65 cents and revenues of $1.67 billion. Analysts had been
looking for 62 cents and $1.65 billion. Management also guided Q4 EPS to 66-70 cents (65 cent consensus) and Q4 revenues to $1.80-$1.87 billion ($1.75B consensus). In discussing the solid numbers, the firm noted strong adoption in Europe and improving performance in several emerging markets. Bear Stearns subsequently upgraded RIMM shares to “outperform.” JMP Securities and UBS reiterated calls at the same level. RIMM shares popped on the news and then moved into a bullish “flag” consolidation pattern. Prices frequently exit flags moving in the same direction they were traveling on entry. In this case, that would be to the upside.
Continue reading Research In Motion: Shares define bullish “flag” pattern
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