RIM, Apple, MetroPCS: Tech Winners & Losers
There was speculation earlier in the day that the two wireless carriers were in discussions to team up, as wireless carriers fight for subscribers.
"MetroPCS today confirmed that it is in discussions with Deutsche Telekom regarding an agreement to combine T-Mobile USA and MetroPCS. There can be no assurances that any transaction will result from these discussions, and the Company does not intend to comment further unless and until an agreement is reached," a statement from MetroPCS read.
Shares of Research In Motion (RIMM) rose 5.09% to $8.26 on exceptionally heavy volume. More than 50 million shares have been traded so far, more than twice the average daily volume.The Canadian-based electronics maker recently reported earnings that beat Wall Street expectations, but the outlook for RIM is still murky at this point. Last week, the company reported an adjusted loss of $142 million, or 27 cents a share, for its fiscal second quarter ended in August on revenue of $2.87 billion. The performance was well ahead of the average estimate of analysts polled by Thomson Reuters for a loss of 46 cents a share on revenue of $2.5 billion.
Apple (AAPL) shares were higher by 0.17% to $660.54 as investors look towards fourth-quarter earnings, which are set for later this month. Apple announced plans to release its fiscal fourth-quarter results after the closing bell on Oct. 25. A conference call is slated to follow at 5 p.m. EST the same day. Analysts polled by Thomson Reuters are looking for Apple to generate $8.89 per share in earnings on $36.3 billion in revenue for the quarter ending September, 30. That's up from last year, when Apple posted a profit of $7.05 per share on sales of $28.27 billion. Interested in more on Apple? See TheStreet Ratings' report card for this stock. -- Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_Bull
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