RIMM - Rising By The Millions
Research In Motion (RIMM) gave investors a jerk when it accounted quarterly earnings on Sept. 25. RIM sales increased 88% and earnings surged 72% in the quarter that ended Aug. 30. RIM’s stock had risen 82% to 97.53 on Sept. 25, but it was still down more than 34% from a recent multimonth high of 147.55 on June 19. Much of the drop had been fueled by interests about rivalry from Apple and worries about increased costs, as well as news of disseminating financial infection among Wall Street firms that engage legions of BlackBerry users.
RIM’s report eased fears that the company will lose subscribers as a consequence of financial crisis that’s led to bankruptcy for Lehman Brothers, Bank of America’s (BAC) purchase of Merrill Lynch (MER), and the near-collapse of AIG . Traders and bankers are one of the most zealous users of the BlackBerry. Indeed, RIM added 2.6 million subscribers and sold 6.1 million units