5 Super Hot Stocks: RIMM and Big Lots Drop 7%, While Western Digital Surges 10%
Shares of Research in Motion (NASDAQ:RIMM) are down more than 7% early Friday. The company announced it would miss its adjusted 2012 profit target of $5.25 to $6 a share. Lower unit shipments in the fourth quarter were blamed.
Big Lots Inc. (NYSE:BIG) is also falling more than 7% after posting lower net income in the third quarter. Net income for the discount store fell to $4.2 million (6 cents per share), compared to $17.7 million (23 cents per share) a year earlier. This is a decline of 76.3% from the year earlier quarter. Competitors include: Wal-Mart Stores, Inc. (NYSE:WMT), Costco Wholesale Corp. (NASDAQ:COST), and Family Dollar Stores, Inc. (NYSE:FDO).
Investing Insights: Big Lots Inc. Earnings Cheat Sheet: Profit Drops, but Beats Estimates.
After reporting a profit rise of 43%, Royal Bank of Canada (NYSE:RY) is receiving a 2.3% boost this morning. Net income from continuing operations also jumped 19%, compared to only a 4% rise in the previous quarter.
Western Digital Corp. (NYSE:WDC) is surging over 10% after raising its revenue outlook for its fiscal second quarter. The company expects Thailand flood-related costs to be $225 million to $275 million for the quarter.
CME Group Inc.’s (NASDAQ:CME) is edging higher, despite reporting a 7% decline in trading volume. The daily volume average was in November was 13.2 million contracts.
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