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Technology Stocks : Research In Motion TSE RIM Nasdaq RIMM
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To: 2MAR$ who wrote (884)1/21/2004 9:18:57 AM
From: John A. Stoops  Read Replies (2) of 989
 
07:01 ET RIMM is squeezing the shorts -- WSJ 87.78: The Wall Street Journals column Tracking the Numbers highlights Research In Motion as the stock soared 51% last month after the company posted stronger-than-expected Q3 results and raised its Q4 outlook. But bears think stock is too expensive and over the long term, bears are focused on the co's legal fight over its U.S. patent rights. In August, a court in Virginia stayed a ruling over patent infringements that could require the co to stop selling the BlackBerry devices in the U.S. A U.S. District Court also stayed its order, pending appeal, that RIM pay $53.7 mln in damages and costs to closely held NTP Inc., which was formed to defend the patents of a Chicago-area electrical engineer and inventor. The ruling stems from a 2001 statement of claim alleging BlackBerry infringes on eight patents controlled by NTP. If an appeal against the NTP verdict goes against the co, an injunction against the sale of BlackBerry hardware and services in N. America "could be ruinous," said J.P. Morgan Chase analyst Paul Coster in a recent research report. He added, however, that he considers such an outcome "highly unlikely." Decisions on the appeal in the patent dispute still could be many months away. The number of RIM short positions meanwhile jumped 27% to 10.8 mln shares as of Dec. 15. According to article, some analysts say the good news already is priced into the stock. Among them is J.P. Morgan's Mr. Coster, who last week downgraded his rating on the stock to Neutral.
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