Ticker Shock: Cautious Optimism for Oracle, RIM, Darden; Palm Gets Slapped
Friday's top stories and stocks with potential to move.
Let's end the week on a high note, shall we?
Asian markets sank as we slumbered. The Hang Seng was off more than 2%, while the Nikkei was down just under 1%. Europe was showing me some red earlier this morning as well. And here in the US, we're currently trading higher.
Here's what's got my got attention this morning:
Research In Motion (RIMM)
Last night after the bell, the company that brought you your CrackBerry disseminated its third-quarter earnings.
Excluding items, it put up $0.83 per share; analysts were at $0.83. The good news: The number was in the upper end of the $0.81 to $0.83 adjusted range RIM offered up earlier this month, as part of its preliminary results.
RIM also indicated it's looking for $0.83 to $0.91 per share in fourth quarter. And that's good news, because I'm seeing estimates of $0.83.
In short, I think this news will be viewed as a positive by the investment community. And as I've previously mentioned, I also think the stock could do well over the longer haul.
My big concern right now: I'd like some more color as far as next year is concerned. Will the momentum it seems to expect in the fourth quarter spill over into next year?
Yesterday after the close, the California-based smartphone company offered up its second-quarter results.
Excluding items it lost a hefty $0.73 per share. Not good, given that analysts were looking for a $0.38 per share loss.
Of course, I wasn't exactly expecting to break out the party hats, given its preliminary announcement earlier in the month, which I've also discussed in this column.
And no, I'm not planning on bottom-fishing the stock, in case you were wondering. I just can't see a reason to. That being said, I'll likely revisit the idea again in the New Year; though I'm a bear right now - but I'm not willing to write these guys off entirely.
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