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MENAFN - ProactiveInvestors - Australia - 25/11/2012

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RIM climbed to as high as $12.10 on the NASDAQ atfter closing up 5.7 per cent to $10.26 on Wednesday, the day before U.S. markets were shut for Thanksgiving.
(MENAFN - ProactiveInvestors - Australia) Research In Motion (NASDAQ:RIMM)(TSE:RIM) surged as high as 18 per cent in early NASDAQ trading Friday on rising optimism over the BlackBerry maker's newest smartphones.

RIM climbed to as high as 12.10 on the NASDAQ atfter closing up 5.7 per cent to 10.26 on Wednesday, the day before U.S. markets were shut for Thanksgiving.

As at 10.50am EDT, RIM shares were trading up 13 per cent at 11.61 on the NASDAQ.

Thursday, Kris Thompson, a National Bank Financial analyst, suggested investors pick up RIM stock ahead of the launch of the new BlackBerry 10 in the new year.

"The shipment boost reflects about one more month of BB10 product availability plus a little extra for the positive sentiment building in the industry from our discussions," analyst Kris Thompson wrote.

Earlier in the week, analyst Peter Misek at Jefferies & Co. (NYSE:JEF) upgraded the stock to a hold rating, citing research that shows wireless carriers "have a much more positive view of BB10 than we expected."

The company's BlackBerry phones - once a business must-have - have lost market share to smartphones made by Apple (NASDAQ:AAPL) and phones that use Google's (NASDAQ:GOOG) Android operating system.

In Toronto, RIM stock was down 4 per cent to 11.51.

 






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