RIM, Apple, Facebook: Tech Premarket
NEW YORK (TheStreet) - Research In Motion (RIMM) was a big gainer in premarket trading Tuesday, rising 3.34% to $9.91 to continue its recent momentum.
Shares of the embattled Canadian handset maker closed up 4.24% on Monday as takeover chatter again swirled around the company.
Jefferies analyst Peter Misek also upgraded RIM to hold in a note released early on Tuesday, citing strong carrier support for BlackBerry 10.
"Preliminary results from our quarterly handset survey indicate developed market carriers have a much more positive view of BB10 than we expected," he wrote. "With greater carrier shelf space and marketing support, we now believe BB10 has a 20%-30% probability of success."
The analyst also raised his RIM price target from $5 to $10. Last week the company confirmed that its much-delayed BlackBerry 10 technology will debut at a launch event on Jan. 30, 2013. Apple (AAPL) shares crept up 0.25% to $567.10 before market open on Tuesday, after jumping significantly during Monday's trading. The iPhone maker's stock, which has been in decline recently, closed up 7.21% on Monday after an analyst described the selloff as "insanely insane". Facebook (FB) shares were also modest gainers in premarket trading, rising 0.35% to $23 after losing 2.72% during Monday's trading. HP (HPQ) reports its fiscal fourth-quarter results before market open with analysts expecting revenue of $30.43 billion and earnings of $1.14 a share. --Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: tips@thestreet.com.Select the service that is right for you!
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