NEW YORK ( TheStreet) -- There's been some wicked volatility of late on a stock that usually trades about 65 million share per day on average. After a couple of ugly down days for BlackBerry (BBRY) (previously known as Research in Motion), its shares have moved to the upside as the company prepares to step into the earnings confessional tomorrow before the markets open.
As shares of BBRY moved higher on Tuesday, the
S&P 500 once again tested its record, coming within a point of its closing high of 1,565.15, set on Oct. 9, 2007. The benchmark index ended the day up 0.78%, at 1,563.77. Shares of BBRY moved up 23 cents on the day to close at $14.46.
Although volume was unremarkable, traders are betting on what the company will reveal Thursday concerning its Z10 touch-screen smartphone sales in Canada and internationally. Details on the U.S. launch will have to wait until the next quarterly earnings report because the Z10 just hit the U.S. markets at the end of last week.
When it reports on its fourth-quarter financial results, BBRY will be facing analysts' expectations that it sold nearly 1 million Z10 phones globally. A report released on Tuesday quoted Morgan Stanley analyst Ehud Gelblum, who predicted Z10 sales "probably won't be a blowout, but the way they have been talking, I'd be shocked if it wasn't anecdotally bullish."This reflects the expectations of both analysts and bullish traders who feel BlackBerry will not disappoint and will likely present an upbeat earnings report. Not all analysts are wildly optimistic and seem to be attempting to moderate the anticipation surrounding the upcoming quarterly numbers. According to the same report, Colin Gillis, an analyst with BGC Financial, expects a higher-than-consensus estimate of 1.3 million Z10 units shipped.
Gillis suggested that store reports have revealed a lack of marketing support and poor positioning by AT&T (T). "It's sad," Gillis said. "
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $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
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All 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.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV