RIM (RIMM) is up to another 52-week high on the perceived-to-be-huge news that it "has shipped the first of its smartphones to China and hopes to start selling them later this year," writes Reuters.
The stock is tradng up over 10% to almost $127, well above its 52-week high. The 52-week low is $36.44.
Alcatel-Lucent (ALU) will be RIM’s partner in the China distribution of the Blackberry 8700 model. ALU needs the good news a great deal more than RIM does. The company has been beaten half to death due to missed financial forecasts and the perception that CEO Patricia Russo is in over her head now that the merger of the US and French companies is complete. Alacatel-Lucent shares are up 3% on the news.
Douglas A. McIntyre