The company behind the BlackBerry, Research In Motion provides a range of wireless hardware, software, and services.
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Sell this on short! Its had a trifecta of bad news today, yet the stock is trading higher -- this is incredulous!
1) EPS guidance was reduced to 81-83 instead of 89-90 it previously expected. RIMM had pinned its hopes on the Storm, yet the company has had numerous execution issues; not good in a a struggling economy.
2) RIMM has been all about the enterprise side; RIMM is trying to sell its products to the consumer, but people areh’t rushing out to buy a new $200 phone when their old phone is working just fine. Meanwhile Apple is eating RIMM's lunch because they have the consumer side and are now encroaching on the enterprise side. RIMM is levered to Wall Street; the loss of jobs on Wall Street negatively impacted RIMM’s bottom line. AAPL is expected to have a very strong qtr., and they are very stiff compeition for RIMM.
3) RIMM did poortly earlier in year with the exchange rates of US vs. Canadian dollar.