{"id":1381,"date":"2010-04-01T01:55:26","date_gmt":"2010-04-01T05:55:26","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=1381"},"modified":"2010-04-01T01:55:26","modified_gmt":"2010-04-01T05:55:26","slug":"rimm-share-repurchasing-on-hold","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2010\/04\/01\/rimm-share-repurchasing-on-hold\/","title":{"rendered":"RIMM Puts Share Repurchasing On Hold"},"content":{"rendered":"

Research In Motion (RIMM) reported no share repurchase activity in its latest earnings report<\/a>. The amount spent on this program remains at $775M of the $1.2B total authorized<\/a>. Perhaps it makes sense that RIMM has saved its powder given the stock has trended upward since last quarter’s repurchase activity. <\/p>\n

Although RIMM provided guidance<\/a> that remains above bullish analyst expectations<\/a>, the stock dropped 4.6% in after-hours to close at $70.55 (it dropped as low as $66!). This puts RIMM right above the converged support of the 50 and 200-day moving averages (DMAs). For review, here is the chart I posted two days ago:<\/p>\n


\n
\"RIMM<\/a>
RIMM still holding above support<\/figcaption><\/figure>
\n*Chart created using TeleChart:<\/strong> <\/a>
\n<\/center>
\n<\/p>\n

Although the recent up-trend is now broken, I will add to my long position for a swing trade if this support holds for the day. A close below support (below $69) sets the stock up as a short.<\/p>\n

Be careful out there!<\/p>\n

Full disclosure: long RIMM (call spread)<\/p>\n","protected":false},"excerpt":{"rendered":"

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<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[220,62],"tags":[253,252],"class_list":["post-1381","post","type-post","status-publish","format-standard","hentry","category-earnings","category-technical-analysis","tag-research-in-motion","tag-rimm"],"yoast_head":"\nRIMM Puts Share Repurchasing On Hold - ONE-TWENTY TWO: Trading Financial Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/drduru.com\/onetwentytwo\/2010\/04\/01\/rimm-share-repurchasing-on-hold\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RIMM Puts Share Repurchasing On Hold - ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"og:description\" content=\"Research In Motion (RIMM) reported no share repurchase activity in its latest earnings report. 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