Diamonds and Dogs
June 15, 2010
DiamondRIMM
Research in Motion Limited has emerged as the Diamond of the day in what appears to be a healthy market. This company designs, manufactures, and markets wireless solutions for mobile products like Blackberrys and smartphones. Despite the recent introduction of the iphone4 and ipad to the market, RIMM has emerged as a strong stock due to its innovations to the Blackberry smartphones adding features like the touchscreen and a slide out keyboard while also readying new devices. RIMM is up 5.03% to 62.48, an increase of $3.16. With earnings coming out next week this looks to be a good stock to jump onto just early enough to ride on a good wave.
Dog
Best Buy Co., Inc
Best Buy shares sunk 6.49% to 38.38, a decrease of $2.67. This can easily be seen as a result of the rising costs in TV and business expansions. Sales and profits were hurt by the rise in costs in comparison to their price competitors Wal-Mart and Amazon, who both saw a small increase in the market today. A weakened consumer demand doesn't help the electronics and appliances however industry analyst predict a better future for Best Buy later in the year. Although the new 3D televisions seem like the next giant step in our advanced technology world, it's clear that the innovation isn't really jumping out to consumers like they wanted.
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