Personally, I’d start to think about shorting RIM, muses Guy Adami. The stock is again at levels where it started to break down last time.
I expect to see an upgrade parade from analysts on Friday on the heels of this earnings report, adds CNBC’s Jim Goldman. For the life of me I can’t imagine shorting this stock.
But at these levels RIMM will likely run out of momentum, counters Jon Najarian (Pete’s brother), so I think Guy is right. You might want to short the stock as a trade
Taking a broad look at the sector, when RIM has good earnings, Apple often has good earnings, reminds Karen Finerman.
I also think it means good things for the other guys, echoes Tim Seymour.
> For complete coverage of RIM earnings click here
AFTER HOURS ACTION: NIKE
After hours shares of Nike popped 3% after the company reported a profit that exceeded analysts' expectations.
Specifically, the athletic apparel company said it earned 76 cents a share in its fiscal second quarter, on revenue of $4.4 billion
The company, a major sponsor of controversial golfer Tiger Woods, has said it will stand by the golfer as he takes time off from the sport to work on his marriage.
What’s the trade?
Nike is really growing in Asia and the Middle East, reminds Tim Seymour. That’s much more telling than anything related to Tiger Woods.
I think this stock is ok, says Guy Adami.
> For complete coverage of Nike earnings click here
Got something to to say? Send us an e-mail at email@example.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send those e-mails to firstname.lastname@example.org.
Trader disclosure: On December 17th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Seymour Owns (AAPL), (BAC), (FXI), (INTC), (TSO), (GE), (EEM); Finerman's Firm Owns (MSFT), (NOK), (AAPL); Finerman's Firm Owns (BAC) Preferred, (BAC), (BAC) Call Spreads; Finerman Owns (BAC) Preferred, (BAC); Finerman's Firm And Finerman Own (WFC) Preferred; Finerman's Firm Is Short (IJR), (MDY), (SPY), (IWM), (UNG); Najarian Owns (ORCL) Jan. Calls, Is Short (ORCL) Dec. Calls; Najarian Owns (AAPL) Calls; Najarian Owns (FCX) Call Spread; Najarian Owns (GE) Calls; Najarian Owns (MS); Najarian Owns (RIMM) Jan. Calls, Is Short (RIMM) Dec. Calls; Najarian Owns (UUP) Call Spread
For Rich Greenfield
Pali Capital Is A Market Maker In (NWS.A), (NWS)
Pali Capital Is A Market Maker In (DWA)
Pali Capital Is A Market Maker In (IMAX)
For Paul Miller
FBRCM Is A Market Maker Or Liquidity Provider For (FITB)
GE Is The Parent Company Of CNBC
NBC Universal Is The Parent Company Of CNBC
CNBC.com with wires