Contemplating Next Round Potential Candidates
posted on
Sep 24, 2009 02:26PM
LOS ANGELES (MarketWatch) -- Research In Motion Ltd. shares are likely to be among Thursday evening's volume leaders as the BlackBerry mobile-devices maker is forecast to report a quarterly rise in profit and sales. Also, analysts expect TIBCO Software Inc. to post a profit decrease.
Research In Motion is expected to report second-quarter earnings of $1 a share, representing a 16% climb from the year-ago period, according to analysts surveyed by Thomson Reuters. Sales are expected to jump 41% to $3.62 billion.
Wall Street expects RIM's figures to reflect overall demand for so-called smartphones.
New products such as RIM's BlackBerry Tour have spurred replacement demand by existing subscribers, but "new subscriber adoption could have been hurt due to success of Apple's iPhone 3GS launch, in our opinion," wrote analyst Vivek Arya at Bank of America/Merrill Lynch in a note to clients Tuesday. Read RIM earnings preview.
Nasdaq-listed shares of the Waterloo, Ontario-based company were last down 2.9% before the release of the financial figures. Shares of rival Palm Inc. were also down, by 2.1%, and Apple Inc. shares gave up 1.2%.