Wednesday, April 11, 2007

After Hours Movers

Wow, did RIMM really miss relative to recent activity in the options markets and relative to what some analysts had been saying recently. Research in Motion posted earnings of just 99-cents a share in line with expectations. 4th quarter revenue amounted to just over $930 mln vs estimates of $937 mln. While the company guided higher on Q1 nujmbers to as high as $1.09 a share vs ests of $1.04 and revenue as high as $1.075 bln vs estimates of 998 mln, RIMM is now saying the informal probe of its options grants has turned 'formal'. D'oh! The stock is down $12 and falling.

Pacific Crest's analyst comes out as the top dolt. That firm raised its profit estimate this week to $1.09/shr a full 10-cents above the number provided today. 2nd place analyst dimwit award goes to AMTR: Last week American Technology said RIMM likely made the high end of its guidance without the help of the 8800 and that estimates would need to come up. Droves of folks also bought into the April 165 calls (which were too far out for me) in recent days including today and they will all be worthless tomorrow.

Bed, Bath and Beyond (BBBY) posted earnings that beat by a penny. It's stock is down more than $1.

Ruby Tuesday (RI) is down more than $1 as well with it's revenue coming in a bit light at 377.9 mln vs estimates of 378.2 mln.

Genentech (DNA) posted earnings at 74c vs estimates of 67c. 1st quarter sales hit $2.84 bln vs estimates of 2.74 bln. The stock is up less than $1 which doesn't bode well for the droves of folks who were buying the Apr 85 calls today.

This is not earnings related: Advanced Magnetics (AMAG) is rallying with a rise of more than $5. Phase III studies of its treatment for low red blood count in kidney failure patients showed positive results. My red blood count got down to transfusion levels just before my transplant; AMAG is on to something very important for end stage renal failure patients.

Thus far, S&P futures showing just a modest move higher.

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