ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
On Tuesday, Research In Motion’s (RIMM’s) stock plunged over 4% on notable volume. It appeared that a 4-month downtrend was ready to resume. That evening, RIMM announced a mysterious event, presumably with AT&T, for the following Tuesday. Always quick to buy a rumor, the market responded to the hype by sending RIMM to a rapid … Read more
As Research In Motion’s stock (RIMM) plunged the last repurchase program underwater, I speculated that RIMM would initiate another share repurchase program if the stock continued to go lower. It now seems that Research In Motion (RIMM) is indeed determined to prop up its stock with its hard-earned cash. During tonight’s earnings call, RIMM announced … Read more
I last wrote about Research In Motion (RIMM) in mid-April when I asked “Can RIM’s Stock Continue to Float As the Repurchase Program Ends“? The resounding answer is now “NO”. RIMM is down 17% since mid-April and has set new lows for the year. RIMM repurchased the bulk of its stock at an average price … Read more
This morning, Research In Motion (RIMM) announced that it completed its repurchase program through a third-party transaction (emphasis mine): “Research In Motion Limited…announced today that it has agreed to purchase for cancellation 2.0 million of its outstanding common shares, representing approximately 0.36% of its common shares outstanding at April 5, 2010, pursuant to private agreements … Read more
Research In Motion (RIMM) reported no share repurchase activity in its latest earnings report. The amount spent on this program remains at $775M of the $1.2B total authorized. Perhaps it makes sense that RIMM has saved its powder given the stock has trended upward since last quarter’s repurchase activity. Although RIMM provided guidance that remains … Read more