Two Ways: Research In Motion Has Slowed, Not Stopped
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In the accompanying statement, the company said it added net subscribers of 3.8 million, which was inline with its forecast of adding 3.7 to 3.9 million. Margins came in at 43.6% vs. 43.3%.
Looking forward to the second quarter, RIMM said it sees profits coming in around $0.94 to $1.03 per share. Analysts were expecting $0.97 a shares. Second-quarter revenues are also projected to come in around $3.45 to $3.70 billion, versus consensus forecasts of $3.61. T
he company said it is having a great start to the 2010 fiscal year due to financial performance as well as market share gains as IDC's latest estimate says the company has 55% of the US smartphone market.
From the Bull Pen: The earnings reaction isn't too pleasant right now with shares currently off 6% But bulls can still play this stock for a trade. Watch the behavior into $70 tomorrow. A sell stop can be set below that level on upside tries.
From the Bear Cave: On the other hand, RIMM's only products are its BlackBerries, and the competition is increasing making it a much tougher environment. Those bearish can look for entry near resistance points ($76 and $80), if and when it gets there.
What a long day. Have a good night! !
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