5 Super Hot Stocks: RIM Drops 6%, Adobe Announces Profits and Michael Kors Impresses
Research In Motion (NASDAQ:RIMM) is down more than 6 percent in late trading. The BlackBerry maker announced it expects fiscal fourth-quarter earnings of 80 cents to 90 cents a share, below the Thomson Reuters estimate of $1.18 a share. The company continues to struggle against Apple’s (NASDAQ:AAPL) iPhone. RIM’s new BlackBerry 10 smartphone will also be delayed until the latter part of 2012.
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Shares of Adobe Systems Inc. (NASDAQ:ADBE) are climbing 3.55 percent after the closing bell. The company announced fourth quarter profits of $173.7 million (35 cents per share), compared to $269 million (53 cents per share) last year.
After closing 21 percent higher on Thursday, shares of Michael Kors Holdings Ltd. (KORS) are edging .21 percent lower in extended trading. Shares made their debut on Thursday at $20 each, more than the projected range of $17-$19.
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Salesforce.com Inc. (NYSE:CRM) shares are ticking slightly higher announcing a deal to purchase Rypple, a cloud-based management company.
Amgen Inc. (NASDAQ:AMGN) is trading .31 percent higher after the close. The company announced late Thursday that Chief Executive Officer Kevin Sharer will retire on May 23. Chief Operating Officer Robert Bradway will replace Sharer.
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