MidnightTrader Analyst Play: Research in Motion
Research In Motion
(
RIMM |
Quote |
Chart |
News |
PowerRating) closed the regular session down 2.5% at 133.51, adding to a 0.8% decline recorded in today’s pre-market following a report Goldman Sachs started new coverage on the issue with a Buy rating.
RIMM tends to narrow its analyst-driven pre-market movement in the following regular session, cutting back or reversing its early trade by the close in eight of the last 13 analyst actions we’ve tracked.
6/3/08 Pre-Market: -0.8%; 6/3/08 Regular Session: -2.5% at 133.51 – Goldman Sachs starts with new Buy coverage.
1/18/08 Pre-Market: +3%; 1/18/08 Regular Session: +1.8% – Oppenheimer upgrades stock to Outperform vs. Perform.
12/21/07 Pre-Market: +15.5%; 12/21/07 Regular Session: +10.5% – Bear Stearns upgrade to Outperform from Peer Perform.
12/5/07 Pre-Market: up modestly; 12/5/07 Regular Session: -0.4% – TD Newcrest raised rating to Buy from Hold.
12/3/07 Pre-Market: -4.2%; 12/3/07 Regular Session: -7.1% – Morgan Keegan downgrades stock to Market Perform from Outperform.
11/20/07 Pre-Market: +1.5%; 11/20/07 Regular Session: +2.6% – Thomas Weisel initiates coverage with an Outperform rating.
11/6/07 Pre-Market: +2.6%; 11/6/07 Regular Session: +2% – Credit Suisse raises rating to Outperform.
10/2/07 Pre-Market: -0.7%; 10/2/07 Regular Session: -2.8% – Raymond James downgrade to Market Perform from Outperform.
10/1/07 Pre-Market: -1.3%; 10/1/07 Regular Session: -0.5% – RBC Capital cuts stock to Outperform from Top Pick.
9/14/07 Pre-Market: +1.1%; 9/14/07 Regular Session: +1.4% – RBC raises price target to $110 per share.
9/4/07 Pre-Market: -1.7%; 9/4/07 Regular Session: +0.1% – Bear Stearns downgrades to Peer Perform from Outperform.
8/13/07 Pre-Market: +3%; 8/13/07 Regular Session: +2.4% – UBS raises price target.
6/25/07 Pre-Market: up slightly to 171; 6/25/07 Regular Session: -3% – UBS raises price target.
Brooks McFeely is widely regarded as the leading expert on extended-hours trading. He is a Managing Partner for Brochet Capital Partners, LP and the founder of Midnight Trader, Inc. (www.midnighttrader.com), the leading provider of pre-market and after-hours trading analysis and news to retail and institutional investors.