R-I-M Earnings Preview (RIMM)
Research In Motion Limited (NASDAQ: RIMM) is set to release earnings today after the closing bell. Thomson Reuters has consensus estimates for earnings of $1.64 EPS and $5.40 billion in revenue. For the quarter ahead, those estimates are $1.61 EPS…
Shares have backed off of late and the near-1% gain has shares this morning at $59.75 after challenging $62.00 just at the end of last week. The 52-week range is $52.53 to $76.95 and shares had risen some 50% in just the last three months before this fresh weakness.
R-I-M is important on the charts as the 200-day moving average is $58.49 and the 50-day moving average is down at $56.20. R-I-M’s $59.75 price today compares to an average analyst target of $65.51.
There were more than 55,000 contracts of the DEC-2010 CALLS in RIM that traded on Wednesday, but so far we have seen only about 13,000 contracts trade hands in the first two hours of trading on Thursday. Based on speculative options, it seems that options traders are only expecting a move of $2.20 to $2.45 on the news.
JON C. OGG
Contact [email protected] for any questions or corrections.
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.