Stocks to Watch: RIM, Red Hat, Nike
NEW YORK -- Research In Motion (RIMM) reported a fiscal third-quarter loss Thursday that was narrower than Wall Street's expectations.
The stock of the BlackBerry maker moved higher in after-hours trading Thursday but reversed course during an earnings call after RIM said it would change the way it charges customers service fees, putting a key source of revenue at risk.
RIM also said said spending on the launch of BlackBerry 10 will drive a fourth-quarter operating loss.
RIM Beats and Pops, Then Drops After Hours
Red Hat (RHT) posted third-quarter sales that topped analysts' estimates and it announced Thursday it was acquiring ManageIQ, a cloud software company, for $104 million in cash.
Nike's (NKE) second-quarter earnings fell 18% but topped expectations because of strong demand in North America. Revenue in the quarter rose 7% to $5.96 billion. Nike brand revenue rose 11%. Nike said orders for shoes and apparel to be delivered between December and April rose 6% from last year to $9.3 billion. 6 Climbing High-Yield Dividend-Paying Stocks
Walgreen (WAG) is expected by analysts Friday to report fiscal first-quarter earnings of 70 cents a share on revenue of $17.45 billion.
Crane (CR) said it would acquire privately held MEI Conlux Holdings and its Japanese affiliate for about $820 million. MEI makes electronic bill acceptors. Crane is buying MEI from Bain Capital and Advantage Partners.
Greenbrier Cos. (GBX) rejected a sweetened bid from American Railcar Industries (ARII), which is controlled by investor Carl Icahn. Toll, Lennar: 2 Good Ways to Play the Housing Recovery
The board of flash-memory maker SanDisk (SNDK) approved an additional $750 million for stock buybacks, bringing the total stock repurchase authorization to $1.25 billion.
-- Written by Joseph Woelfel
>To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: tips@thestreet.com.
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