Market’s been fairly flat today in anticipation of the jobs report coming out tomorrow morning. After the bell, Research in Motion (RIMM) will announce earnings. I’m tempted to purchase before the bell but I’ve been burned twice before with purchases before earnings reports. I expect RIMM to completely blow estimates out of the water. They’ve been able to penetrate the Chinese market with their Blackberry phones and as a result I think their estimates are undervalued. The issue becomes the latest run by RIMM in anticipation of their earnings report. To be honest, it appears it can go either way even if RIMM does surpass earnings. If investors aren’t pleased with the high earnings, you can see RIMM drop 10-15 points. If investors are elated, we could see RIMM jump 10-15 points as it did over the summer. I’ll update at 16:00.
Thursday, October 4, 2007
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I’m a little iffy about the current state of the economy. It seems like the market is a little over enthusiastic about the fed rate cut, which doesn’t appear to help the _real_ economy as much as they tout.
Comment by perros — Thursday, October 4, 2007 @ 6:17 pm
I think we’re already in the throws of a recession. Tomorrow’s job report will shed more light on what’s going on I think and whether we’re getting another rate cut or not.
Comment by Jorge — Thursday, October 4, 2007 @ 6:42 pm
Whats the deal, how’d RIMM do?
Comment by Ryan — Saturday, October 6, 2007 @ 6:34 am
RIMM did well. They raised guidance for next quarter. In other words, they’re making a heck of a ton of money. I’ll have a summary of the week’s events tomorrow with my portfolio.
Comment by Jorge — Saturday, October 6, 2007 @ 7:07 am
If I don’t see ya online (probably won’t) I’m gonna give you a call on this strange device called the “telephone” tomorrow before I leave.
Comment by Ryan — Saturday, October 6, 2007 @ 10:07 am
Haha not a problem sir. Enjoy the rest of your weekend down there.
Comment by Jorge — Saturday, October 6, 2007 @ 10:15 am