I am selling 100 of my 110 shares at $108s. I'll place a limit order to buy these shares back at $99 and see if it hits sometime in the next few weeks. This way I have the same amount of shares, but took advantage of this spike.
- Shares of Research in Motion Ltd. climbed in premarket trading Thursday after the BlackBerry maker raised its forecast for fourth-quarter subscriber additions, saying smartphones were a hot item during the holidays.
- The Canadian company estimates it gained between 2.09 million and 2.18 million new subscribers during the quarter, up from an earlier projection of 1.82 million. It also backed its profit and revenue forecasts for the quarter.
- Oppenheimer and Co. analyst Ittai Kidron kept an "Outperform" rating on the stock, with a price target of $115 per share. He said it was not clear why Research in Motion did not raise its target when it expects a greater number of subscribers. He suggested the company could be being conservative, or may have cleared some of its inventory, both of which would be good in his opinion. He added it is also possible that fewer customers are buying replacement BlackBerrys, which he called a "mixed" sign.
- "It's clear that Research in Motion is seeing broad acceptance for its products and the macro environment has not caught up with demand," he said. "RIM is enjoying strong demand trends and management commented that it is not seeing any seasonal weakness in demand as previously thought."
