RIMM reverses lower on fee concerns
Jim Cramer | [email protected]
'Unanswered Questions' Cited
Research In Motion initially jumped after reporting third-quarter results last night but then made a 180-degree turn as questions arose over changes to its fees and services. The BlackBerry maker posted an adjusted loss of -$0.22 per share, better than the -$0.35 loss expected by analysts, while revenue of $2.73 billion beat the consensus forecast of $2.65 billion. But Sterne Agee analyst Shaw Wu attributed the after-hours drop to "unanswered questions around the future of its high-margin services business," according to MarketWatch. RIMM is down about 13 percent to $12.29 this morning.
Nike Surges on Strong Earnings
The athletic-apparel giant posted earnings of $1.14 for its fiscal second quarter, exceeding the consensus expectation of $1. Nike also said that revenues totaled $5.96 billion in its release after yesterday's close, slightly less than the $5.99 billion anticipated by most analysts. Although sales fell 11 percent in China, the company said those numbers were offset by strength in North America and emerging markets. NKE is up 3.13 percent to $102.10 on my tradeMONSTER extended-hours platform.
Walgreen Profits Miss Forecast
The pharmacy chain said this morning that earnings for its fiscal first quarter came in at an adjusted $0.58 per share, below the consensus estimate of $0.70 EPS. Sales totaled $17.32 billion, compared with revenues of $17.43 billion projected by analysts. The company said its bottom line was hit by the conversion of prescription drugs to generic status. WAG is down 3.75 percent to $36.14 in pre-market trading.