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Jun 16, 2011 at 4:32 pm
on behalf of the CB nation, let's hope for the best and a positive outcome.
Jun 16, 2011 at 4:38 pm
So 500K PBs in the first quarter of its release. Seems like good numbers considering the various speculations earlier in the market and also put it ahead of Xoom.
Jun 16, 2011 at 5:13 pm
Stock is getting hammered after hours. Quadruple witching day tomorrow, and tons of options in the $30 a share range on NASDAQ, with a few as low as $27.50. Investors are calling this the next PALM. Sad.
Jun 16, 2011 at 5:26 pm
Gross margin 43.9%
Share buy-back props up share price slightly, but when it has fallen so far I would rather see a dividend.
Missing back-to-school promotions really kills them. Add to that expectation of lower margin under 40% in Q2, meaning they will need to drop phone prices in order to keep sales moving forward and clear any remaining inventory.
Jun 16, 2011 at 5:33 pm
Keep in mind that there was a huge skew in options with the margin meaning that market makers would need to buy shares near $30 in order to cover options expiring tomorrow. In other words, wait until Monday to get a better idea of where share prices are headed.
Jun 16, 2011 at 6:03 pm
thats 500,000 shipped not sold. They did not release a sales figure. Kevin guessed less than 200,000 sold since they did not give a number.
Jun 16, 2011 at 7:17 pm
What a train wreck. Such a shame. Nortel was Canada's darling tech company years back. Now it's being sold for scrap. I hope RIM can avoid that path.
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