Market Summary

 

Earning Reports

Total Companies: (293) Stock Center View

Symbol Price EPS
Est.
Reporting
Time
HUM 2.19 06:00 am ET
WLP 2.26 06:00 am ET
ACCO 0.16 07:00 am ET
AMT 0.54 07:00 am ET
HUN 0.48 07:00 am ET
SO 0.66 07:30 am ET
PSX 1.70 08:00 am ET
PSXP 0.39 08:45 am ET
CYTK -0.32 4:00 pm ET
KRFT 0.83 4:00 pm ET
VPRT 0.53 4:05 pm ET
CHDN 3.19 4:30 pm ET
STMP 0.58 4:30 pm ET
ALLE 0.64 5:00 pm ET
KEX 1.30 5:00 pm ET
REMY 0.39 8:00 pm ET
AEL 0.49 After Mkt
AKAM 0.55 After Mkt
ALB 1.07 After Mkt
ALL 0.70 After Mkt
AMC 0.29 After Mkt
AMSF 0.61 After Mkt
ANIK 0.57 After Mkt
ARII 1.20 After Mkt
ASGN 0.52 After Mkt
ATEN -0.08 After Mkt
ATW 1.08 After Mkt
AVG 0.47 After Mkt
BALT N/A After Mkt
BGC 0.28 After Mkt
BLKB 0.28 After Mkt
BMRN -0.42 After Mkt
BRKL 0.14 After Mkt
CACC 2.90 After Mkt
CATM 0.58 After Mkt
CAVM 0.33 After Mkt
CBT 0.91 After Mkt
CCG 0.17 After Mkt
CENX 0.18 After Mkt
CJES 0.26 After Mkt
CLUB 0.00 After Mkt
CMO 0.36 After Mkt
CNL 0.63 After Mkt
CNW 0.75 After Mkt
COHR 0.80 After Mkt
COHU 0.14 After Mkt
CTRP 0.11 After Mkt
CUZ 0.17 After Mkt
CW 0.78 After Mkt
CWT 0.29 After Mkt
DDR 0.28 After Mkt
DRE 0.29 After Mkt
DRII -0.20 After Mkt
DRIV -0.04 After Mkt
EGN 0.52 After Mkt
EHTH 0.09 After Mkt
EIG 0.19 After Mkt
ELGX -0.08 After Mkt
ENTR -0.13 After Mkt
EQIX 0.81 After Mkt
EQY 0.30 After Mkt
EROC -0.01 After Mkt
EXL 0.20 After Mkt
EXR 0.63 After Mkt
FBHS 0.54 After Mkt
FEIC 0.65 After Mkt
FISH 0.30 After Mkt
FIX 0.21 After Mkt
FMC 1.02 After Mkt
FNF 0.46 After Mkt
FOE 0.16 After Mkt
FORM 0.07 After Mkt
FORR 0.31 After Mkt
FXCB 0.17 After Mkt
GFF 0.18 After Mkt
GLAD 0.21 After Mkt
GLUU -0.04 After Mkt
HBM 0.02 After Mkt
HIG 0.68 After Mkt
HK 0.04 After Mkt
HOLX 0.34 After Mkt
HOS 0.49 After Mkt
HR 0.36 After Mkt
HVT 0.22 After Mkt
ICAD -0.05 After Mkt
INT 0.71 After Mkt
INTT 0.10 After Mkt
IPI 0.01 After Mkt
ISH -0.22 After Mkt
ISIL 0.18 After Mkt
KRA 0.52 After Mkt
KS 0.60 After Mkt
LGCY 0.32 After Mkt
LNC 1.37 After Mkt
LOCK 0.04 After Mkt
LPSN 0.05 After Mkt
LRCX 1.23 After Mkt
MAA 1.25 After Mkt
MANT 0.23 After Mkt
MC 0.24 After Mkt
MDAS 0.29 After Mkt
MEP 0.09 After Mkt
MET 1.41 After Mkt
MIC 0.34 After Mkt
MMLP 0.38 After Mkt
MN 0.31 After Mkt
MOH 0.41 After Mkt
MTGE 0.62 After Mkt
MTW 0.42 After Mkt
MUR 1.21 After Mkt
NANO 0.05 After Mkt
NCIT 0.14 After Mkt
NE 0.65 After Mkt
NEWP 0.21 After Mkt
NOW -0.07 After Mkt
OEH 0.09 After Mkt
PDM 0.36 After Mkt
PEIX 0.65 After Mkt
PGTI N/A After Mkt
PPC 0.67 After Mkt
PSB 1.22 After Mkt
PVA -0.03 After Mkt
QUMU -0.39 After Mkt
RKUS 0.05 After Mkt
RM 0.36 After Mkt
RNWK N/A After Mkt
ROIC 0.04 After Mkt
ROVI 0.40 After Mkt
RRTS 0.40 After Mkt
SAM 1.79 After Mkt
SBRA 0.55 After Mkt
SCI 0.23 After Mkt
SFLY -0.74 After Mkt
SIGI 0.48 After Mkt
SIMG 0.04 After Mkt
SPN 0.41 After Mkt
SPRT -0.02 After Mkt
SQI 0.06 After Mkt
SSS 1.04 After Mkt
STAG 0.36 After Mkt
STNR 0.56 After Mkt
STR 0.22 After Mkt
SZYM -0.36 After Mkt
TCO 0.81 After Mkt
TFSL 0.06 After Mkt
TGI 1.20 After Mkt
TLLP 0.56 After Mkt
TSO 1.82 After Mkt
TTEK 0.42 After Mkt
TTMI 0.05 After Mkt
TWTC 0.10 After Mkt
UNM 0.87 After Mkt
VECO -0.18 After Mkt
WDC 1.74 After Mkt
WFM 0.39 After Mkt
WHG N/A After Mkt
WLL 1.28 After Mkt
WPZ 0.38 After Mkt
WSTL -0.04 After Mkt
WTW 0.77 After Mkt
YELP -0.03 After Mkt
AB 0.41 Before Mkt
ADT 0.47 Before Mkt
AMED 0.04 Before Mkt
ATRO 0.52 Before Mkt
BAH 0.42 Before Mkt
BDC 1.01 Before Mkt
BELFA N/A Before Mkt
BEN 0.95 Before Mkt
BOKF 1.04 Before Mkt
BZC 0.18 Before Mkt
CETV N/A Before Mkt
CFR 1.01 Before Mkt
CG 0.74 Before Mkt
D 0.62 Before Mkt
DEST 0.67 Before Mkt
DHX 0.07 Before Mkt
DORM 0.65 Before Mkt
DX N/A Before Mkt
EEFT N/A Before Mkt
ENR 1.55 Before Mkt
EVER 0.26 Before Mkt
GRMN 0.76 Before Mkt
GT 0.79 Before Mkt
HAE 0.36 Before Mkt
HES 1.18 Before Mkt
HSP 0.57 Before Mkt
IACI 0.81 Before Mkt
INGR 1.40 Before Mkt
INOD -0.01 Before Mkt
KVHI 0.04 Before Mkt
LFUS 1.31 Before Mkt
LO 0.89 Before Mkt
LPLA 0.61 Before Mkt
MDCI 0.02 Before Mkt
MGAM 0.31 Before Mkt
MINI 0.24 Before Mkt
MMYT N/A Before Mkt
MRGE -0.02 Before Mkt
MWV 0.50 Before Mkt
NVMI 0.19 Before Mkt
PAG 0.85 Before Mkt
PBI 0.46 Before Mkt
PEG 0.51 Before Mkt
PTRY 0.35 Before Mkt
REV 0.46 Before Mkt
ROK 1.56 Before Mkt
S -0.01 Before Mkt
SAIA 0.69 Before Mkt
SALT -0.09 Before Mkt
SEE 0.39 Before Mkt
SGNT -0.01 Before Mkt
SMP 0.80 Before Mkt
SODA 0.31 Before Mkt
SONS 0.01 Before Mkt
SPB 1.29 Before Mkt
TASR 0.06 Before Mkt
TFX 1.34 Before Mkt
TRK 0.67 Before Mkt
VLO 1.21 Before Mkt
VLY 0.14 Before Mkt
WEC 0.52 Before Mkt
WEX 1.23 Before Mkt
ACG N/A Unknown
AIQ N/A Unknown
ANH 0.09 Unknown
ARNA -0.11 Unknown
ATRI N/A Unknown
BCOR 0.48 Unknown
BNCL N/A Unknown
BODY -0.52 Unknown
BOOM N/A Unknown
CAC N/A Unknown
CFNB N/A Unknown
CKH 0.84 Unknown
COWN 0.07 Unknown
CQP -0.38 Unknown
CRRC 0.09 Unknown
CSS N/A Unknown
CTG N/A Unknown
CVCO 0.67 Unknown
DRQ 1.15 Unknown
EAC 0.13 Unknown
EBSB N/A Unknown
ENVE N/A Unknown
ESSA N/A Unknown
ETRM -0.10 Unknown
FFNW N/A Unknown
FNLC N/A Unknown
FRNK 0.17 Unknown
GHDX -0.26 Unknown
GOV 0.55 Unknown
HIFS N/A Unknown
HNH N/A Unknown
HTBI N/A Unknown
HTZ 0.08 Unknown
ICLR 0.58 Unknown
KERX -0.25 Unknown
KFRC 0.32 Unknown
KRNY 0.04 Unknown
LBTYA 0.06 Unknown
LNG -0.33 Unknown
MBRG 0.26 Unknown
MCGC 0.02 Unknown
MELI 0.56 Unknown
MFA 0.19 Unknown
MSG 0.23 Unknown
NBBC N/A Unknown
NHC N/A Unknown
NUTR 0.43 Unknown
OCIP 0.64 Unknown
PGC N/A Unknown
PHII N/A Unknown
PROV 0.16 Unknown
QLTY 0.20 Unknown
QUIK -0.05 Unknown
RRD 0.35 Unknown
RSH N/A Unknown
RTEC 0.03 Unknown
SGK 0.17 Unknown
SPTN 0.43 Unknown
SPW 1.19 Unknown
STEM -0.14 Unknown
SWM 0.82 Unknown
TBNK 0.34 Unknown
THLD -0.13 Unknown
TWIN 0.24 Unknown
TYG N/A Unknown
UFPT 0.39 Unknown
UTMD N/A Unknown
VICL -0.05 Unknown
VSEC 1.10 Unknown
WMK N/A Unknown

Today's Earnings Stocks Highlights

Symbol Name Last Change Volume EPS
Est.
Reporting
Time
Market
Cap
MET MetLife, Inc. 54.44 0.35 (0.65%) 7.29M 1.41 After Mkt 61.28B
PSX Phillips 66 81.72 -0.75 (-0.91%) 2.61M 1.70 08:00 am ET 46.24B
D Dominion Resources, Inc. 68.97 -0.96 (-1.37%) 2.59M 0.62 Before Mkt 40.11B
← California Muni Bonds - Is The Reward Worth The Risk? (Part 4) Microsoft, Intel, Cisco (MIC) - Can The Troika Grow Again? (Part 1) →

IBM - The Only Company That Should Buy Research in Motion

Posted on 2011-06-22 by Daniel Ho

RIMM BlackberryNot so long ago, Research In Motion (NASDAQ: RIMM) was a well respected company. At the time, even after iPhone debuted, I still encountered people who used the company as an example to illustrate why innovation was important. However, I was never a fan of the Blackberry, and I just didn't understand why anyone would want to personally buy a blackberry unless it was given to them by their companies. We even shorted the stock in 2008 around $100/share when the financial tsunami hit, and covered it a few months later at around $70/share. While that was a good trade, we obviously covered it too soon, as it is now trading < $30/share after it reported disappointing earnings on June 16.

Prior to the precipitous drop of RIM of 25% after its latest earnings reports, there were many bulls who touted that RIM was too cheap not to own. The reasons most cited were its market share in the enterprise market, its single digit P/E ratio, opportunity in international markets, etc. These days, many bulls are now silenced, but there are still no shortage of people who vow for RIM, again citing the same reasons as before, ignoring the faults of their previous analyses. However, while it was always a consideration, now more and more people think RIM could be a takeover target. The names thrown out as possible acquirers are Microsoft (NASDAQ: MSFT), Dell (NASDAQ: DELL), Hewlett Packard (NYSE: HPQ), HTC, Samsung, and even Google (NASDAQ: GOOG). This is actually the main reason that discourages us from shorting RIM again, but we don't think any of the aforementioned candidates makes any sense.

Let's go over the candidates and see why they should not/will not acquire RIM. First of all, RIMM, even after its steep decline in the last few years, is still a USD $15 billion company. For any company to acquire it, they will likely have to pay a pricey premium, at least > $25 billion before RIM's board will consider it, given how much RIM was trading before the latest drop in price and how low its P/E has become. This basically precludes many companies such as Dell and HTC, not to mention other aspiring smartphone makers even if they want to, because of their current financial statuses.

For Samsung, it is likely to become 'the' leader in Android based smartphone/tablets, and there is really no reason to distract itself to support another smartphone platform it does not seem to believe in. In HP's case, it just absorbed Palm Computing, and has its own plan for smartphone/tablet, and why would it go after RIM at this point? HP also has its own share of problems in its overall corporate focus, and only a market cap of $70 billion. It's not impossible, but it's very unlikely.

A VC suggested that Google buys off RIMM for its patents and spins off its hardware division. With Google pulled out of its own Nexus One phone, and gathering momentum with its Android platform while killing RIM at the same time, it's hard to imagine why Google buying RIM would be a good idea other than fortifying its patent portfolio to counter Apple. We also don't see how Google can integrate RIM with its vast corporate cultural difference. With Google now trading below $500/share, we are actually considering buying Google stocks, but we will drop the idea in a heartbeat if Google even entertains the idea of buying RIM.

When it comes to high price acquisition, everyone tries to stuff it to Microsoft because they have the money to do it. In this case, if Microsoft acquires RIM, it will instantly gain market share in the smartphone market, which is the main reason for the speculation. However, with just a fresh partnership with Nokia, any acquisition of a handset manufacturer will certainly jeopardize the partnership and makes the whole world questions, appropriately, the strategic focus of Microsoft. The acquisition will also hurt the prospect of Microsoft working with other handset manufacturers. After all, if the handset giant, Nokia, can be toyed with, why should other manufacturers trust Microsoft anymore? Although we think it's ok for Microsoft to acquire Skype even at a high premium, as a Microsoft shareholder, we certainly do not want to see Microsoft buying RIM.

The RIMM bulls got it right that RIM had a strong enterprise focus and great relationships with mobile carriers. In our opinion, the only company that can integrate RIM into its portfolio, and effectively leverage these advantages to enhance their own business will be IBM (NYSE: IBM). With a market cap of ~$200 billion, there is no problem for IBM to pay for RIM, either in stocks or a combination of cash and stocks. Being both a software and hardware company, IBM's culture should be much more compatible with RIM than any other potential acquirers. More importantly, IBM can acquire RIM for its strong bonds with enterprises, and forget about the continual competition with Apple and Google in the consumer market, a losing proposition so far. The acquisition will streamline and refocus RIM in the business world, and solidify IBM's entries in IT departments of almost all large corporations. Furthermore, by integrating RIM and providing a viable mobile platform for enterprises on both the client and server sides, IBM can potentially reclaim its leadership in enterprise communication software over Microsoft's Exchange.

Frankly, even though we see a good fit for IBM and RIM together, we don't think RIM is ready for a takeover until its stock declines further through market share erosion and earnings losses. One strategy of investing on this theory will be to write puts on RIMM, so investors can secure a lower price point of entry on its stocks. At some point of time, RIMM as an acquisition target for IBM will become too apparent to ignore, and investors will be rewarded when time comes for that.

This article originally appears on benzinga.com

← California Muni Bonds - Is The Reward Worth The Risk? (Part 4) Microsoft, Intel, Cisco (MIC) - Can The Troika Grow Again? (Part 1) →

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