Research in Motion Shares Rebound After Earnings Report (RIMM)

Tom Reese/Paul Rubillo,

Research in Motion (RIMM) shares are bouncing today after the company issued a better-than-expected growth forecast for its BlackBerry smartphones.

Management now expects sales to reach $3.3 billion to $3.5 billion in the fourth quarter and EPS of 83 to 91 cents per share. This is ahead of analyst expectations for revenue of $2.97 billion and earnings per share of 83 cents on average.

The Bottom Line

The shares of RIMM had hit 52-week highs of $145 back in June of this year, but the stock has been in free-fall ever since. The company does appear to be a bargain in the tech space, so investors may want to start watching the shares more closely. This non-dividend paying stock has some techical support around the $25-29 price area. If this fails to hold, then the stock would become very dangerous from a technical perspective. Keep that in mind as you do your own research as well.

Research in Motion (RIMM) does not currently pay a dividend.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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