Research in Motion Limited, the maker of the BlackBerry, is scheduled to report first quarter financial results after the bell Thursday — the same day Apple released its iPhone 4, which expected to smash smartphone sales records.
There is a lot of pressure on the Canadian-based company with investors particularly eager to hear about their forward-looking guidance, says Jon Najarian of optionMONSTER.com, especially since there's a growing belief that BlackBerry sales are losing out to the iPhone and Motorola's Droid.
Najarian doesn't see a lot of upside or downside speculation in the options market. In other words, he thinks traders expect RIMM to be a "dud."
Guy Adami of Drakon Capital, however, comments that RIMM shares have slipped significantly since the company's last earnings report. He calls it a "monumental move."
But some traders are buying RIMM, says Adami. In doing so, they are hoping the double-bottom around $55 a share holds up.
"Apple is hitting grand slams and the rest are hitting singles," says Steve Grasso of Stuart Frankel, adding that even in a down market, Apple's stock still moves higher.
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