RIM surges ahead of BB10 unveiling

The Canadian Press

Posted: Jan 21, 2013 10:37 AM ET

Last Updated: Jan 21, 2013 4:21 PM ET

FILE - In this Nov. 8, 2011, file photo, a Blackberry employee holds a mobile phone of Blackberry in Berlin. Research In Motion (RIM) made another step towards the release of its new BlackBerry smartphones on Monday, Nov. 12, 2012, announcing that it plans to unveil the devices and its new operating system on Jan. 30. (AP Photo/dapd, Berthold Stadler) (Berthold Stadler/dapd/Associated Press)

Shares in BlackBerry-maker Research In Motion are continuing their upward march.

RIM stock closed up more than 10 per cent, or $1.70, at $17.41 on the Toronto Stock Exchange Monday.

The stock has gained some 14 per cent since the close last Monday, and more than 170 per cent since hitting a 52-week low of $6.10 last September.

The recent surge comes as RIM prepares to unveil its new BlackBerry 10 operating system and line of smartphones on Jan. 30.

On Monday, president and CEO Thorsten Heins was quoted in a German newspaper as saying the Waterloo, Ont.-based company is still open to licensing its new OS, but not before the launch.

The paper also quotes Heins as saying the sale of RIM's hardware production arm is also a possibility.

On Friday, Jeffries & Co. analyst Peter Misek raised his target estimate for RIM to $19.50 US per share, from $13.

In a note to investors, Misek said he expects RIM to open its corporate BlackBerry email services to iPhone and Android devices, which would be a new revenue stream for the company.

BlackBerry 10 is widely considered a make-or-break product for the once dominant smartphone maker, which has seen its market share eroded by Apple and Android devices.

Stay Connected with CBC News

Big Box Advertisement

Top News Headlines

Senate debates expense audits amid greater scrutiny

Senate debates expense audits amid greater scrutiny: The expenses scandal is dominating the first Senate session since the audits on senators Mike Duffy, Mac Harb and Patrick Brazeau were released and it was revealed Duffy's questionable expenses were repaid by a personal cheque from the prime minister's chief of staff. Follow our live blog. more »

Kids from levelled Oklahoma schools recount deadly tornado: Children from two Oklahoma schools levelled Monday by a powerful tornado are recounting what it was like to survive the "loud" and "scary" twister, while rescuers near the end of their search for any other remaining survivors or bodies. more »
Deadly Oklahoma tornado confirmed as most powerful type: Emergency workers neared the end of their search Tuesday afternoon for survivors in Moore, Okla., following a deadly tornado that weather officials said was now classified among the most powerful type of twister. more »
Only 1 set of human remains found at Millard farm, police say: Hamilton police have confirmed that they are dealing with only a single set of human remains at the Waterloo region farm of Dellen Millard. more »
Rob Ford faces more calls to address crack allegations: Toronto Mayor Rob Ford went back to work after a holiday weekend, but he kept his mouth shut about an alleged video that two published reports say shows him smoking what appears to be a crack pipe. more »

Must Watch

Latest Business Headlines

Microsoft unveils Xbox One: The company unveiled the Xbox One, a next-generation entertainment console that promises to be the one system households will need for games, television, movies and other entertainment. It will go on sale later this year. more »

Carney's parting advice: play to Canada's strengths: Outgoing Bank of Canada governor said Canada's economy is poised for growth as long as all stakeholders keep pulling in the same direction. more »
B.C. mine's temporary foreign workers case dismissed: The Federal Court of Canada has dismissed a challenge launched by two unions against a company that hired more than 200 temporary workers from China for its coal mine in northeastern B.C. more »
Most wish they could ditch wallet, PayPal poll suggests: A survey from the e-commerce firm PayPal suggests the majority of people in Canada, the U.S., the U.K., Germany and Australia wish they could leave their wallet at home and pay for purchases in a less cumbersome way. more »
Home Depot profit up 18% as renovation rebounds: Home Depot Inc.'s first-quarter net income rose 18 per cent, thanks to the ongoing housing recovery, despite a chilly and wet spring. more »

More Headlines »

Lang & O'Leary Exchange

Markets

TSX COMPOSITE

Rotate stock indices Pause stock rotation Show previous stock PLAY

May 21, 2013 4:47 PM ET May 21, 2013 4:36 PM ET May 21, 2013 4:15 PM ET May 21, 2013 4:36 PM ET May 21, 2013 4:47 PM ET

Index	Last Trade	Change
TSX COMPOSITE	12742.43	129.38
DOW	15387.58	52.30
NASDAQ	3502.12	5.69
SP 500	1669.16	2.87
TSX-VENTURE	939.41	4.73

The data on this site is informational only and may be delayed; it is not intended as trading or investment advice and you should not rely on it as such.