Research In Motion Limited (NASDAQ: RIMM) is set to release earnings today after the closing bell. Thomson Reuters has consensus estimates for earnings of $1.64 EPS and $5.40 billion in revenue. For the quarter ahead, those estimates are $1.61 EPS and $5.46 billion in revenues.
Shares have backed off of late and the near-1% gain has shares this morning at $59.75 after challenging $62.00 just at the end of last week. The 52-week range is $52.53 to $76.95 and shares had risen some 50% in just the last three months before this fresh weakness.
R-I-M is important on the charts as the 200-day moving average is $58.49 and the 50-day moving average is down at $56.20. R-I-M’s $59.75 price today compares to an average analyst target of $65.51.
There were more than 55,000 contracts of the DEC-2010 CALLS in RIM that traded on Wednesday, but so far we have seen only about 13,000 contracts trade hands in the first two hours of trading on Thursday. Based on speculative options, it seems that options traders are only expecting a move of $2.20 to $2.45 on the news.
JON C. OGG
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