Market Preview: Brussels Calling
As for Thursday's scheduled news, Research In Motion (RIMM) is reporting its fiscal first-quarter results after the closing bell, and Wall Street is expecting a loss of a penny per share for the three months ended in May on revenue of $3.11 billion.
On May 29, the company said it expects to report an operating loss for the first quarter, citing "lower volumes and highly competitive pricing dynamics in the marketplace" that it anticipates will results in a "challenging" financial performance over the next few quarters while it builds up to the planned launch of the BlackBerry 10 later this year.
Research In Motion has hired bankers to help it examine its strategic options but few investors seem to be betting on a buyout judging by the share price, which got whacked on Monday after Morgan Stanley lowering its rating on the stock to sell with a $7 price target.UBS, which has a neutral rating and an $11.50 price target on the stock, is anticipating a loss of 23 cents a share from RIM on revenue of $2.4 billion. The firm sees the company's cash balance as an emerging risk ahead of the BlackBerry 10 launch and it's not hopeful a white knight will gallop in and save the day. "
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV