Morning Buzzers: RIM Jumps 3%, Apple in the Red Again
Shares of Research in Motion (NASDAQ:RIMM) jumped more than 3 percent this morning. On Tuesday, the company said its subscriber base now totals more than 80 million users, compared to 78 million in the first fiscal quarter report in late June. Many analysts were expecting a decrease in the user base. Research in Motion also said its BlackBerry 10 mobile operating system is on track to be released in early 2013 and will contain native apps from Facebook (NASDAQ:FB) and LinkedIn (NYSE:LNKD).
Google (NASDAQ:GOOG) shares edged slightly lower Wednesday morning after hitting new all-time highs this week. The search giant continues to receive upgrades from analysts — Citigroup’s Mark Mahaney recently raised his price target to $850 from $740, while Capstone Investment analyst Rory Maher increased his target to $910 from $830.
Catalysts are critical to discovering winning stocks. Check out our newest CHEAT SHEET stock picks now.
Apple (NASDAQ:AAPL) shares are down this morning for the third consecutive day. However, the supply concerns over the iPhone 5 launch may be nearing an end. Jefferies analyst Peter Misek explains that Apple may be close to solving its component constraints problem after adding Sony (NYSE:SNE) to the list of suppliers for the in-cell displays used in the iPhone 5. Expanding the list, which also includes LG Display (NYSE:LPL) and Japan Display, has “alleviated what was the main bottleneck” in the production of the phone, writes Misek in a recent note to investors.
Shares of Jabil Circuit (NYSE:JBL) fell more than 9 percent after reporting financial results for its fourth quarter. Net income declined 27.6 percent to $82.8 million (39 cents per share), compared to $114.3 million (52 cents per share) a year earlier. The results fell short of the mean analyst estimate of 51 cents per share.
Investor Insight: AT&T versus Verizon: Who is Winning the iPhone 5 Launch?