Will Anyone Save RIM? (Update 1)
RIM announced, however, that it will delay the launch of BlackBerry 10 (formerly QNX, and BBX) phones until the "latter part of 2012", representing yet another blow for the company. RIM has been losing market share to Apple's iOS and Google's Android operating system, with U.S. revenues declining in the third quarter.
Despite its challenges, RIM's still worthy of investor attention, according to Sanford Bernstein analyst Pierre Ferragu. "As management's current denial position is getting less and less tenable and as they committed yesterday to explore multiple strategic opportunities, we see too much upside risk to recommend a short position to investors and maintain our market-perform rating," he explained, in a note released on Friday. Sanford Bernstein has a $16 price target on RIM's shares.
Ferragu's not alone in seeing some light amidst the RIM gloom. Leon Cooperman of Omega Advisors, for example, has purchased a 1.4 million share stake in the company, as he hopes "they've [RIM] seen the worst." Cooperman noted RIM's vast intellectual property as part of the investment thesis.
Interested in more on RIM? See TheStreet Ratings' report card for this stock.
--Written by Chris Ciaccia in New YorkSelect the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
TheStreet Quant Ratings
TRY IT FREENew! $49.95/yr
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
Product Features:
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Dividend Stock Advisor
TRY IT FREEJim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
