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TORONTO (Reuters) - Shares of Blackberry maker Research In Motion Ltd. (RIMM.O: Quote)(RIM.TO: Quote) hit ... BlackBerry Pearl forum

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    sanfrancisco's Avatar
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    Pearl Sales Cause RIM Stock Increase and Great Quarter Report

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    TORONTO (Reuters) - Shares of Blackberry maker Research In Motion Ltd. (RIMM.O: Quote)(RIM.TO: Quote) hit a record high on Friday as analysts lavished upgrades on the stock after the company posted strong second-quarter results and forecast more of the same.

    Shares of Waterloo, Ontario-based RIM rose as high as $104.50 on Nasdaq, spiking about 21 percent or $18.44 from its close of $86.06 before the results were announced on Thursday evening.

    Spurred by strong initial sales of its new, consumer-aimed BlackBerry Pearl device, RIM predicted that during the third quarter it should be able to add another 800,000 subscribers to its current total of about 6.2 million. It said its earnings per share will be in the range of 88 to 95 cents on revenue of between $780 million and $820 million.

    ...

    "This (third-quarter) guidance is outstanding and reflects the strong initial sell-through of the Pearl Blackberry 8100 and a growing base for existing products," Richards wrote in hiking his target for the shares to $140.

    The Pearl is pushing RIM into relatively new territory -- that of going after individuals rather than corporate accounts -- and some have cautioned that competition with firms such as Motorola (MOT.N: Quote) and Nokia (NOK.N: Quote) could be fierce. But both investors and RIM co-CEO Jim Balsillie appeared to be brushing such concerns aside.

    "While we think the fight with Nokia and Motorola will be brutal, we are convinced RIM can compete and capture some meaningful consumer market share, considering the amount of revenue RIM can generate for the carriers through data-based revenue," Canaccord's Peter Misek wrote in a note to clients.

    However, he added, "Nokia, Motorola, Microsoft, Samsung, and others are formidable competitors."

    Nick Agostino, who covers RIM for Research Capital, wrote to clients that RIM will further benefit as carriers who realize the BlackBerry's growing contribution to their own bottom lines begin reducing data-plan prices to attract more customers.

    Data plans for the Pearl, for example, are being offered for as low as $20 a month by T-Mobile, the carrier through which the Pearl was first launched in the United States earlier this month, Agostino wrote.

    "Carriers are also beginning to reduce monthly data plan pricing for the BlackBerry, which should act as another positive catalyst for longer-term subscriber growth," he wrote.

    ...

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    Re: Pearl Sales Causes RIM Stock Increase and Great Quarter Report

    Quote Originally Posted by sanfrancisco
    "Carriers are also beginning to reduce monthly data plan pricing for the BlackBerry, which should act as another positive catalyst for longer-term subscriber growth," he wrote.

    ...
    i like that last line

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    Re: Pearl Sales Causes RIM Stock Increase and Great Quarter Report

    Sounds like people like the new features and the trackball.

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    Re: Pearl Sales Causes RIM Stock Increase and Great Quarter Report

    ~via BB (wap.pinstack.com)~
    Duh? Has anyone used this phone, it's sweet!

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    Re: Pearl Sales Causes RIM Stock Increase and Great Quarter Report

    ~via BB (wap.pinstack.com)~great job RIM

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