RIM’s (RIMM) Long Ball To China

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By Douglas A. McIntyre Published

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

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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