Research in Motion Ltd. (NASDAQ: RIMM) is not participating in this morning’s rally.  This stock had a good week as shares closed yesterday at $41.46 after having traded under $36.00 on Monday.  Research firm ThinkEquity has put a Sell rating on the stock over concerns about growing competition.  Interestingly enough, Palm Inc. (NASDAQ: PALM) was upgraded this morning.

This is just an add-on to our  fears that corporate layoffs are resulting in cuts to corporate technology spending.  RIMM shares are down almost 2% at $40.65 in pre-market trading.  As such, the 52-week trading range is $35.05 to $148.13.

Despite Palm Inc. (NASDAQ: PALM) having to negate the confusing statements of an Elevation partner about smartphone sales, Palm shares have hung in there.  RBC took a prior “Sector Perform” rating up to a higher “Outperform” rating.  More importantly, it took a $5.00 target up to $12.00.  Palm is up 6% at $8.36 pre-market and its 52-week trading range is $1.14 to $9.51.  This was trading at $6.00 on Monday.

Jon C. Ogg