Daily Stock Buzz: Will RIMM Sink or Go Bobbing for Apple?
Research in Motion (NASDAQ:RIMM) shares are down more than 7 percent in afternoon trading. The BlackBerry maker announced it hired JPMorgan (NYSE:JPM) and RBC Capital Markets to review the company’s business and financial performance. CEO Thorsten Heins also announced that the company would report a first-quarter operating loss and plans on cutting its work force.
Apple Inc. (NASDAQ:AAPL) shares are higher almost 1% in afternoon trading. CEO Tim Cook said during the D: All Things Digital conference that Apple is preparing to release some “incredible” new products. However, he did not provide many details as he promised to “double down” on secrecy.
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Shares of Monsanto Co. (NYSE:MON) gained 2.70 percent in morning market trading as the company expects a stronger-than-expected third-quarter. Monsanto expects earnings to come in at $1.57 to $1.62 per share, above estimates of $1.29 by analysts.
LinkedIn Corp. (NYSE:LNKD) shares reversed lower down 2 percent in Wednesday afternoon trading. The professional social networking company received an upgrade from Neutral to Buy over at Citigroup (NYSE:C). “LinkedIn has so far demonstrated strong execution,” explained analyst Mark Mahaney.
After falling more than 9 percent on Tuesday, Facebook (NASDAQ:FB) shares are down another 2.46% in afternoon trading. Concerns continue to surround the social-media company as it is reportedly dipping its toes into the smartphone market. Options also began trading yesterday, which gives investors another way to play shares without purchasing them outright.
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