What really matters, though, is how the stock performed after the results were released. This is a blog geared toward earnings traders and, today, my predictions once again proved their worth. The following is what I wrote in the June 8th article titled "Blackberrys, Search Engines, Oil -- Oh My:"
The June 24 announcement is shaping up to be a bad day for RIMM shareholders. Some may consider my estimates “close” to consensus, but don’t forget the old cliché “miss by an inch, miss by a mile.
Trading Recommendation: Buy Puts
For those who bought puts earlier in the day, you are currently looking at a 40%+ profit! Not bad for only a few hours of work!
Over the next few days, I will be posting my second-quarter earnings estimates for RIMM, so be looking for that. Also, I have compiled new estimates for both AT&T and UPS that will be posted in the coming days.
Research in Motion's release marks the beginning of a new earnings season. Despite the enormous success that we had last season, I am hoping that this one will be even better.
Be sure to click the "Follow" button in the right portion of your screen so you can catch all of my new posts as soon as they're released!
RIMM Ownership
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Disclaimer:
· Opinions, estimates and projections contained in this report are of the author as of the date published and are subject to change without notice.
· This report is not, nor should it be construed as, an offer to sell or solicitation of an offer to buy any securities.
· Unless otherwise noted, all research reports provide information of a general nature and do not address the circumstances of any particular investor.
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