RIM shares jump

Shares of RIM Ltd. jumped as markets opened in Toronto and New York Friday after the BlackBerry maker reported second quarter earnings that topped Wall Street expectations Thursday afternoon (33 mins ago)

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2 Responses to “RIM shares jump”

  1. Julie Tucker says:

    Blackberry manufacturer Research In Motion’s common stock (RIMM) jumped 4.5% in New York Friday morning after it reported a 31% increase in revenue for the second quarter in comparison to last year. Analysts were additionally encouraged by RIMM’s outlook for the third quarter, noting expected boosts from the Torch.

  2. Joe Cross says:

    With all of this talk of a Blackberry ban, I wonder how the RIM stock shares jump is possible.

    Even still I fully understand that RIM is a business venture, however how come they do not just pack up by leaving the Indian subcontinent and also the UAE?

    Research In Motion has power as well, when you consider that many of the residents of these economies demand top-flight handsets.

    Even though some people are proclaiming that RIM has actually peaked, the demand for mobile phone from RIM is significant. If these nations want to make power plays, well then fine.

    However Research In Motion needs to engage and all that it would probably take is the mere threat of them packing their bags. At the very least, they could avoid all of the hits they are taking in the press over this incident. This should have been over long ago and the executives at RIM could have made it go away.

    All of this makes me wonder if other countries for instance the United States and European government authorities have backdoor access to Blackberry encrypted mobile phones?

    Otherwise what is the big deal?