Calvin, I found this regarding Rimm....
Sorry if it has been posted. I think this news
could be very exciting for Dell Stock holders.Rim stock rockets on report of Dell deal
By Susan Taylor
OTTAWA, Nov 15 (Reuters) - Shares of Research In Motion Ltd. <RIMM.O><RIM.TO> roared ahead on Monday on a report that Dell Computer Corp. <DELL.O>, the world's second-largest personal computer maker, will launch a branded version of RIM's pager later this week.
Stock in the Waterloo, Ontario-based firm gained C$8.80, or nearly 14.5 percent, to C$69.90 on the Toronto Stock Exchange in heavy afternoon trade. On Nasdaq, it added 6-1/16 to 47-15/16.
Research In Motion, or RIM, makes palm-sized pagers that can send and receive electronic mail.
Gains in the stock followed a story posted on the CNET Internet site from News.com that quotes sources close to Dell as saying it will launch a branded version of RIM's Blackberry pager later this week.
"It would make sense for them to partner with somebody like Dell, but we can't confirm the story directly yet," said Robert Stone, analyst at SG Cowen. He added that if there was a deal it "would probably fully support the extra five points in the stock."
A spokesperson from RIM could not be reached from comment.
Duncan Stewart, portfolio manager at Tera Capital Corp., pointed out that the stock would naturally appreciate given the possibility of a Dell deal and suggestion that U.S. phone company BellSouth Corp. <BLS.N> will renew an order with a purchase of 250,000 of RIM's devices.
"There have been rumors swirling around about Dell being interested in doing a marketing agreement with RIM for some time," Stone said.
"It wouldn't surprise us if that was the case because we know that RIM has been in discussion with various PC manufacturers and it's been a part of their strategy to leverage various other big partners, to give them additional distribution." |
