Just popping in to say… Bwahaha!!

RIM shares fall on report of BlackBerry glitches
Monday January 26, 2:47 pm ET
Research in Motion shares down after report of BlackBerry Storm complaints

NEW YORK (AP)—Research in Motion Ltd. shares retreated Monday after a report in The Wall Street Journal pointed to a rocky debut for the company’s BlackBerry Storm, its most direct competitor with Apple Inc.‘s iPhone.

The newspaper suggested some early buyers have gotten fed up with glitches in the Storm’s software and phone service after RIM and Verizon Wireless—the phone’s exclusive service carrier in the U.S.—rushed their product to market ahead of the holiday season.

RIM shares were off $2.75, or 5.2 percent, at $49.89 in afternoon trading.

But not everyone took the Journal’s story as a bad harbinger for the Storm. Morgan Keegan & Co. analyst Tavis McCourt, who holds an “Outperform” rating on RIM’s stock, said sales figures the article quoted were encouraging.

The newspaper said sources familiar with the matter expect Verizon to post 500,000 unit sales for the first month after the phone’s launch on Nov. 21.

“While not an iPhone-like performance, this is plenty to grow RIM’s business,” McCourt said, referring to Apple Inc.‘s popular smart phone.

If this isn’t an iPhone-like performance but is enough to grow their business, I wonder what Tavis makes of Apple’s performance… and why no comment? Last time MK & Co. weighed in on Apple was last April (outperform, no target).

Cheers—

VIX back below 45.

edit: And bounce…right as the VIX bounced off 45, AAPL fell from 90.05 to 89.60.

VIX 45, S&P 840, and AAPL 90 all proving to be resistance ATM. BAC ended the day at exactly 6.00. Without the financials, the indices just can’t get a rally going.

ConMan - 26 January 2009 04:05 PM

VIX 45, S&P 840, and AAPL 90 all proving to be resistance ATM. BAC ended the day at exactly 6.00. Without the financials, the indices just can’t get a rally going.

Yep. And fear of Amex earnings (AXP) might have had a hand in the downturn this afternoon? they’re just coming out now…

The whole combo financial/consumer credit category puts a lot of fear into Mr. Market. (stating the obvious)

Edit: looks like they’re (AXP) holding up ok. But I think I heard that today the stock traded at a 12-year low. Yikes!

kiwitrader - 26 January 2009 04:16 PM

... looks like they’re (AXP) holding up ok. But I think I heard that today the stock traded at a 12-year low. Yikes!

What WB has to say about AXP?  BRK is trading at 10 years’ ago price ... zero return for 10 years.

This is sooooo OT, but John Thain’s on CNBC right now being grilled by the money honey. He looks like he’s missing a front tooth. Unless he was punched, dude! $1200 trash can? How about springing for some veneers?

Edit: As long as we’re off the ranch, BRK is one of the top ten holdings of Fidelity Contrafund. Owned by many a 401k participant. But AAPL is a top-10 holding too. 

TXN shares are up about 5% AH.

edit: Looks like it’s just the street rejoicing that another 3,400 jobs will be cut.

Now that the president has sworn Mr. Geithner in what kind of office furniture do you think Tim will pick out with “multiple times a day” Thain’s help?

Eric Landstrom - 26 January 2009 07:41 PM

Now that the president has sworn Mr. Geithner in what kind of office furniture do you think Tim will pick out with “multiple times a day” Thain’s help?

Something befitting for the MASTERS OF THE UNIVERSE most likely…not too showy, but befitting the elevated status of the owner of the GREEN PRINTING PRESSES. After all, we want the world to know that “all that glitters” is US!

FWIW, Cramer said Buy,Buy,Buy on Apple Monday, imploring the SEC to investigate better targets, not questions about Jobs’ health. 

OT: I have not met ONE single person who is happy with their Blackberry Storm.  Seems that real world experience is proving all the initial negative reviews correct.  It’s a little surprising how consistent the reaction’s been.

Mercel - 27 January 2009 06:25 AM

OT: I have not met ONE single person who is happy with their Blackberry Storm.  Seems that real world experience is proving all the initial negative reviews correct.  It’s a little surprising how consistent the reaction’s been.

I used a Pearl the other day. It was a horrific experience as I attempted to enter my email address into it. Honestly, it took close to 5 minutes!

Mercel - 27 January 2009 06:25 AM

FWIW, Cramer said Buy,Buy,Buy on Apple Monday, imploring the SEC to investigate better targets, not questions about Jobs’ health.

Let the SEC investigate Apple and SJ. I expect them to find that Apple has acted properly with the information they had at the moment, so we will not have this hanging around our collective necks.

Yesterday a rumor tried to circulate that SJ went into the hospital for surgery, but it was quickly squashed when he turned up at Apple for a meeting.
 
Tuesday’s Pivots

R4       97.65
  midpoint   96.31
R3       94.98
  midpoint   93.64
R2       92.31
  midpoint   91.64
R1       90.97
  midpoint   90.31
PP       89.64
  midpoint   88.97
S1       88.30
  midpoint   87.64
S2       86.97
  midpoint   85.63
S3       84.30
  midpoint   82.96
S4       81.63

As expected nobody will ever need oil again. When everybody starts to believe that oil is headed toward 30, I’ll begin building a long position and an inflation/miscreant play.