Thursday, April 2, 2009
Recession No Cure for CrackBerry Addiction
“Sentiment on the stock has never been worse in our opinion….We are somewhat concerned that earnings, subscribers and unit guidance are all likely to be guided down–sequentially.” Broadpoint AmTech analyst Rob Sanderson said that of Research in Motion in a March 18 note to clients. Boy, was he ever wrong. After market close Thursday afternoon, RIM reported fourth-quarter earnings and revenue that easily bested analyst expectations.
Finally, some good news… After market close Tuesday, IBM reported a fiscal fourth-quarter profit that rose 12 percent year over year and said it expects earnings for 2009 to surpass current estimates. IBM believes it will earn at least $9.20 a share in 2009, while analysts have been betting on $8.75.
Dell delivered its fiscal third-quarter results after market close Thursday, and they were about as exciting as the company’s industrial design. It reported a five percent drop in earnings thanks to what company officials euphemistically describe as “a challenging demand environment.”
