RIMM is down $1 after Robert Stone at SG Cowen (mooo!) said “an injunction against RIM “would strain common sense” and “would harm RIM’s business and millions of corporate and government BlackBerry subscribers.”
I bet Mr. Stone has a Crackberry in his pocket! I also be none of his friends have had a messy divorce. It also makes no sense for kids to spend alternating weeks at one parent or another but divorces are funny that way and this one will be very, very ugly.
I’m not going to rehash an article that is 9 inches down the page from here but I am going to call out Mr. Stone for throwing his clients in harm’s way. A hold maybe (if you feel strongly that the stock would weather this storm) but a buy? Institutions are bailing out of this thing every day, who does this guy work for?
Revenues may have be up 50% from last year (assuming all this mess goes away) but so is the stock price and with a p/e of 38, I’m not clear that there are that many more people who want a Blackberry.
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The SS GM is going down yet again, dragging the DOW with it with a big assist from GE
MRK is recovering, as I predicted Tuesday.
BA took a viscious rejection off of $70 again, last time it dropped to $68.25
MMM is having trouble with $80, if it makes it back to $86 it might be a good short
MCD is correcting, good time to look to get in, could go back to $33 but maybe not.
DELL is giving a great entry opportunity today.
Oops, market is finally turning, got to go trade – have fun!
INTC and TXN are bullet-proof (see umbrella stocks)
Last chance to buy WMT on sale.
IBM is preparing to throw a sale near the 50 dma of $84
AIG has major problems, Greenberg appears to be going into competition with them in China, this will be very, very bad for AIG who can only take comfort from the fact that Greenberg is 80 – although, as long as he is alive, his age is a plus to the Chineese.
