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MidnightTrader Analyst Play: Research in Motion

By Brooks McFeely | TradingMarkets.com | June 23, 2008
Symbols: RIMM

Research In Motion ( RIMM | Quote | Chart | News | PowerRating) closed the regular session down 1% at 143.06, retreating from a pre-market gain to 146.49 recorded after RBC raised its price target on the issue this morning to $165 per share from $150.


RIMM tends to narrow its analyst-driven pre-market movement in the following regular session, cutting back or reversing its early trade by the close in nine of the last 14 analyst actions we've tracked.


6/23/08 Pre-Market: gain to 146.49; 6/23/08 Regular Session: -1% to 143.06 - RBC raises price target.


6/3/08 Pre-Market: -0.8%; 6/3/08 Regular Session: -2.5% at 133.51 - Goldman Sachs starts with new Buy coverage.


1/18/08 Pre-Market: +3%; 1/18/08 Regular Session: +1.8% - Oppenheimer upgrades stock to Outperform vs. Perform.


12/21/07 Pre-Market: +15.5%; 12/21/07 Regular Session: +10.5% - Bear Stearns upgrade to Outperform from Peer Perform.


12/5/07 Pre-Market: up modestly; 12/5/07 Regular Session: -0.4% - TD Newcrest raised rating to Buy from Hold.


12/3/07 Pre-Market: -4.2%; 12/3/07 Regular Session: -7.1% - Morgan Keegan downgrades stock to Market Perform from Outperform.


11/20/07 Pre-Market: +1.5%; 11/20/07 Regular Session: +2.6% - Thomas Weisel initiates coverage with an Outperform rating.


11/6/07 Pre-Market: +2.6%; 11/6/07 Regular Session: +2% - Credit Suisse raises rating to Outperform.


10/2/07 Pre-Market: -0.7%; 10/2/07 Regular Session: -2.8% - Raymond James downgrade to Market Perform from Outperform.


10/1/07 Pre-Market: -1.3%; 10/1/07 Regular Session: -0.5% - RBC Capital cuts stock to Outperform from Top Pick.


9/14/07 Pre-Market: +1.1%; 9/14/07 Regular Session: +1.4% - RBC raises price target to $110 per share.


9/4/07 Pre-Market: -1.7%; 9/4/07 Regular Session: +0.1% - Bear Stearns downgrades to Peer Perform from Outperform.


8/13/07 Pre-Market: +3%; 8/13/07 Regular Session: +2.4% - UBS raises price target.


6/25/07 Pre-Market: up slightly to 171; 6/25/07 Regular Session: -3% - UBS raises price target.


Brooks McFeely is widely regarded as the leading expert on extended-hours trading. He is a Managing Partner for Brochet Capital Partners, LP and the founder of Midnight Trader, Inc. (www.midnighttrader.com), the leading provider of pre-market and after-hours trading analysis and news to retail and institutional investors.


Original publication: June 23, 2008