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RealTime IT News

RIMM Shot, Please

Handheld devices have been just about the hottest thing in the stock market this year, be it Apple's blistering iPod sales or the soaring success of palmOne's Treo and Research in Motion's BlackBerry devices.

Hardware may have about the lowest barrier to entry in the tech sector, but so far that trio has done just about everything right while its competition has stumbled.

RIMM will have a chance to continue the run when it reports earnings tomorrow night. Once again, the company is expected to post dazzling growth, with earnings expected to come in at 29-32 cents a share compared to a penny loss a year ago.

It's unlikely that RIMM will surprise to the extent that palmOne did a week ago. But don't expect them to disappoint.

An early rally faded Monday, as disappointing earnings news from GM and fear about Wednesday's expected Fed rate hike outweighed euphoria over the transfer of power in Iraq. A warning from thrift giant Washington Mutual after the close threatened to extend the selling.

The Nasdaq lost 5 to 2019, the S&P 500 gave back 1 to 1133, and the Dow fell 14 to 10,357. Volume declined to 1.35 billion shares on the NYSE, and 1.61 billion on the Nasdaq. Decliners led 17-14 on the NYSE, and 17-13 on the Nasdaq. Downside volume was 58% on the NYSE, and 66% on the Nasdaq. New highs-new lows were 164-28 on the NYSE, and 118-46 on the Nasdaq.

Microsoft slipped 1% despite winning a reprieve from the European Union.

Emulex fell 5% after settling a patent dispute with QLogic .

Actuate jumped 10% on a positive write-up in Barron's.

Red Hat and RealNetworks gained on a partnership.

Novell fell 7% on a debt offering.

SBC climbed after avoiding a strike.

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