Research in Motion did exactly what investors expected after the close on Tuesday: the company beat estimates and raised guidance.
Shares of RIMM jumped 8% after hours after the BlackBerry maker reported earnings of 36 cents a share, four cents ahead of estimates. Revenues of $269.6 million topped $263.2 million forecasts, and the company raised forward guidance well above expectations.
RIMM said it expects August quarter earnings of 40-45 cents a share and revenues of $290-310 million, above 36-cent and $287 million estimates. For the November quarter, RIMM said it sees earnings of 45-50 cents a share and revenues of $340-360 million, compared to consensus forecasts of 39 cents and $311 million.
Also after the close, Lexar warned, and Electro Scientific
raised guidance.
Stocks gained Tuesday on a big jump in consumer confidence, as traders shook off nervousness ahead of Wednesday’s expected Fed rate hike, the first in four years.
The Nasdaq rose 15 to 2034, the S&P 500 climbed 2 to 1136, and the Dow gained 56 to 10,413. Volume rose to 1.37 billion shares on the NYSE, but declined 1.59 billion on the Nasdaq. Advancers led 17-15 on the NYSE, and 18-12 on the Nasdaq. Upside volume was 56% on the NYSE, and 72% on the Nasdaq. New highs-new lows were 117-37 on the NYSE, and 96-25 on the Nasdaq.
AMD climbed 3% on hopes for a deal with Dell
.
Broadcom and Qualcomm
hit new 52-week highs.
Cisco gained 2% on an acquisition.
Flextronics and Nortel
rose on a deal.
1-800-Flowers.com fell 12% on a warning.
Siebel lost 4% on SEC charges.
Market Commentary: For our free daily market commentary and technical analysis, please visit the InternetStockReport.com home page at:
http://www.InternetStockReport.com.
