NEW YORK (
) -TheStreet Ratings' stock model downgraded
Research In Motion
to 'Hold' from 'Buy'. Shares of this maker of BlackBerry devices have declined nearly 29% in the last year and our stock model does not see any significant upside at this time.
TheStreet Ratings released rating changes on 12 additional U.S. common stocks for June 29, 2010. In total, 12 stocks have been downgraded and one stock has been upgraded by our stock model.
Compared to the same quarter last year, net income increasing by 19.6% to $768.9 million is good but fails to keep pace with the communications equipment industry average disappointing shareholders. The pitfalls that make RIMM a
include the retro feel of the BlackBerry operating system as well as the unflattering comparisons to and hype about the new iPhone 4.
The only stock upgraded today,
R F Industries
, changed to 'Buy' from 'Hold'. This debt-free company reported second quarter revenue growth of 7.2%, earnings growth of 42.9%, and a high profit margin of 53.2%.
As mobile devices bypass crowded 3G and yet-to-be built 4G networks, Wi-Fi has become ubiquitous at offices and retail establishments. The company is well positioned as a leader in radio frequency (RF) coaxial connectors and cable assemblies use for Wi-Fi, computer networks, and other antenna devices with divisions targeting aerospace, government, and medical industries.
-- Reported by Kevin Baker in Jupiter, Fla.
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Kevin Baker became the senior financial analyst for TheStreet Ratings upon the August 2006 acquisition of Weiss Ratings by TheStreet.com, covering mutual funds. He joined the Weiss Group in 1997 as a banking and brokerage analyst. In 1999, he created the Weiss Group's first ratings to gauge the level of risk in U.S. equities. Baker received a B.S. degree in management from Rensselaer Polytechnic Institute and an M.B.A. with a finance specialization from Nova Southeastern University.