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) - Get Free Report
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) - Get Free Report
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) - Get Free Report
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) - Get Free Report
rejected a sweetened bid from
American Railcar Industries
(ARII) - Get Free Report
, 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:
.
Copyright 2012 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.
