5 Super Hot Stocks: Research in Motion Crashes 20%, GE Gets Billions, Transatlantic Should’ve Eloped
Research in Motion (NASDAQ:RIMM) showed shareholders the company continues to fall far behind other smartphone and tablet players such as Apple (NASDAQ:AAPL), Google (NASDAQ:GOOG), Microsoft (NASDAQ:MSFT), HTC, Samsung, and Nokia (NYSE:NOK). The maker of Blackberry products reported a net income of $329 million, or 63 cents a share. During the same 3-month period in 2010, the company reported a net income of $797 million, or $1.46 a share — more than twice the company’s earnings in this most recent quarter. RIM shares crashed 20% on the horrible earnings. Get all the details to Research in Motion Earnings here.
General Electric Co. (NYSE:GE) signed two new joint ventures in Russia (NYSE:RSX) to build power turbines and medical diagnostic equipment. GE will hold 50% of both joint ventures and the new deals could generate total sales between $10 billion and $15 billion. GE is down 0.5% in early trading.
Transatlantic Holdings, Inc. (NYSE:TRH) and Allied World Assurance Co. Holdings AG (NYSE:AWH) are calling off the wedding. However, Allied World will still make some cash as Transatlantic has agreed to pay Allied World a $35 million termination fee and to reimburse it for $13.3 million in expenses. Transatlantic is also on the hook for an additional $66.7 million fee if in the next 12 months Transatlantic enters into any definitive agreement for a competing transaction. Maybe they should’ve eloped to Vegas?
General Dynamics Corp. (NYSE:GD) has won a $1.83 billion contract to build two next-generation guided-missile destroyers for the U.S. Navy. But don’t think anyone will be manning these vessels soon. The ships won’t be delivered until February 2018.
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