« The fat lady is singing, Wed., Sept. 28, 2005, 4:00 PM | Main | Gold soars today, Wed., Sept. 28, 2005, 5:30 PM »

September 28, 2005

RIMM numbers look good; traders still sell, Wed., Sept. 28, 2005, 5:09 PM

The news is that RIMM reports good news; traders sell heavily. Even news of quarterly earnings of $0.56 vs a corresponding quarter of $0.36 did not help. Analysts had been expecting $0.61, and not even an unexpected revenue increase over estimates was enough to hold the share price in after-hours trading. Trading is now down to $74.65 (actually it's still falling: off the chart here).

From the mid-afternoon high of $78.47 through the close of $77.25 to the after-hours trading at $74.65, that's a "4.9 pct haircut.

Still Kevin O'Leary (ROBTV), who has shorted the stock, is satisfied with the positive RIMM revenues and profits numbers that were reported today, saying competition is on the way and margins will be cut.

I noted that about the time the story of Cingular hitting it off with RIMM competitor Nokia came out today, the RIMM stock started to fall a bit, but then there was a bigger drop into the close and an even bigger one later..

Posted by Posted by Bill Cara on September 28, 2005 05:11:35 PM | Category: 45 Info Technology