For the quarter Research in Motion earned $412.5 million, or 72 cents per share, up from a profit of $187.4 million, or 33 cents per share, in the same period in the year prior.

Revenue was up from $930 million to a staggering $1.88 billion.

After hours RIMM stock has moved up 5% and is currently trading above $121 a share. The stock is up over 50% from its 52 week low of $80.20 hit back in January of this year.

Post from: EveryJoe

RIMM Profits Surge

The S&P 500 lost 10% for the first three months of 2008 as worries of a recession and a subprime crisis has lead to continuous selling. This round goes to the bears.

Below is a chart of the S&P 500 over the last three months, notice the steady downtrend of prices:

Can the market make a comeback in the 2nd quarter of 2008? Only time can tell.

Post from: EveryJoe

1st Quarter 2008 Ends Ugly

1. Bear Stearns Bid Gets Upped
2. A Line at the Discount Window
3. Unlucky Penny
4. Courting Clear Channel
5. Fire Sale For Ford
6. Motorola Break Up
7. Privacy and Personal Health

Post from: EveryJoe

Top Stories, The Week Of March 23 2008

Carl Icahn, the billionaire investor who has a history for making big changes happen has been the big backer for some sort of move from Motorola. The latest in his efforts is to gain control of four seats on the Motorola board, which has come with strong resistance.

Ever since the Razr phone became popular Motorola has struggled to find a follow up hit. Its mobile devices business was number 1 until Samsung Electronics took the top spot last year.

The company’s two main businesses will make up the two new publicly traded companies. One will be centered around Motorola’s handsets business and one will focus on its home and networks business.

Most analysts agree this is the best move for Motorola, and the deal is expected to close sometime in 2009.

Since March of 06 the stock has struggled to make any ground falling from $24 a share all the way down to $8.98 just last Thursday. Today the stock is trading up around $10 a share.

Post from: EveryJoe

Motorola Announces Company Split

Even though Yahoo currently has no other competing bidders right now with Microsoft, it is believed that Yahoo is aggressively pursuing alternative routes for the company.

The most likely outcome is that a marriage between Yahoo and Microsoft will occur, with one alternative being perhaps Yahoo tying up somehow with Time Warner.

Citigroup’s new target for Yahoo stock is now $34 from $31.

Post from: EveryJoe

Microsoft Set to Raise Yahoo Offer?

Apparently the new talks took place on Sunday as JP Morgan was trying to satisfy disgruntled shareholders upset over the original $2 offer.

The original price for Bear Stearns was part of a deal struck last week at the urging of the Federal Reserve and Treasury Department. The bank was having liquidity problems and was under extreme price pressure from the market.

Bear Stearns (BSC) stock is up substantially today because of the news trading at about $10, or up 67% from last Thursday’s close.

Post from: EveryJoe

Bear Stearns Surges on New Buyout Offer

The jewelry retailer posted Q4 earnings of $1.27 a share vs an expected $1.21 a share, both exclude one-time charges. This is up 31% from the year prior and puts Tiffany’s in a good spot moving forward.

Revenue rose to $1.05 billion from $958.9 million last year, matching analysts’ predictions.

The strongest results for the company have been seen with its international sales as US sales have lagged. Sales in stores that have been up atleast 1 year fell 1 percent in the US but internationally rose 6 percent.

Tiffany shares have traded above $43 already today which puts the stock up 12.5%. Intraday high today thus far is $44.10.

Post from: EveryJoe

Tiffany’s Stock Jumps After Beating Earnings

1. Bear Stearns Bought For $2
2. Going Where No Fed Has Gone Before
3. The Deepest Fed Cut
4. Bear Stearns Becomes First Casualty
5. Visa’s IPO
6. Small Profits But Profits Nonetheless
7. Starbucks Steps It Up

Looking ahead into next week, expect the bulls to try and continue their fight for control over the markets. Look for technology to lead the way.

Post from: EveryJoe

Top Stories, The Week Of March 14 2008

The $44 price tag topped estimates of $37 to $42, and the stock shot up in price yesterday finishing the session at $56.50. Today Visa stock added another 14% to close at $64.35, putting the stock up some 46% since its debut yesterday.

The lead underwriters for the IPO were JP Morgan and Goldman Sachs. JP Morgan is the largest bank behind Visa owning some 64.5 million shares for a total ownership percentage of 23.3%.

The previous US record for a single IPO was back in 2000 when AT&T was priced at $11 billion.

Post from: EveryJoe

Visa IPO Largest in US History

This news is not a surprise though as other companies have already been approaching the matter in the same way. Cisco Systems (CSCO) announced it would be doubling its purchases from China over the next five years.

As for competition goes, Hewlett-Packard (HPQ) is not in as tough of a position as Dell is. Dell relies on the US for nearly half its total income where as HP is far less dependent.

Between the two competitors, HP took the number one market share spot from Dell with its focus on laptops and selling through retailers. Because of this, Dell last year stepped away from its direct-only sales model and now sells PCs in retailers such as Wal-Mart (WMT).

Post from: EveryJoe

Dell Turns to China With $52 Billion to Cut Down on Costs