“Last time we did sum of the parts analysis we got $9,” says Wu, “but when you x-out the cash – it’s $4 - $5. If anything there’s still downside risk.”
Looking at the earnings a little more closely, RIM posted a net loss of $518 million, or 99 cents a share, in the quarter ended June 2. That compares to net earnings of $695 million, or $1.33 a share, in the same period a year earlier.
On an operating basis, RIM lost 37 cents a share.
Analysts were projecting a loss of 3 cents a share, according to a Thomson Reuters poll.
* You can find our conversation with Shaw Wu about 7 minutes into this post.
Posted by CNBC's Lee Brodie
Read More from Fast Money:
> Simple Strategies Behind Supersized Successes
> 10 Top Stocks for the Long-Term Investor
> Top Apple Related Stocks for 2012
______________________________________________________
Got something to to say? Send us an e-mail at fastmoney-web@cnbc.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 Web site, send those e-mails to fastmoney@cnbc.com.
Trader disclosure: On June 28, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Brian Kelly is long SPY CALLS; Brian Kelly is long QQQ CALLS; Brian Kelly is short YEN; Brian Kelly is short POUND; Joe Terranova is long VRTS; Joe Terranova is long MCD; Joe Terranova is long PNC; Joe Terranova is long USB; Joe Terranova is long TCBI; Joe Terranova is long SBUX; Joe Terranova is long UPL; Joe Terranova is long PXD; Joe Terranova is long WFM; Joe Terranova is long NXPI; Joe Terranova is long HYG; Joe Terranova is long AAPL; Joe Terranova is long EMC; Joe Terranova is long LPX; Joe Terranova is long OIH JULY $34 CALLS; Karen Finerman is long AAPL; Karen Finerman is long BAC; Karen Finerman is long JPM; Karen Finerman is long WMT; Karen Finerman is long TGT; Karen Finerman is long RIMM; Karen Finerman is long M; Karen Finerman is short SPY; Karen Finerman is short IWM; Karen Finerman is short MDY; Guy Adami is long C; Guy Adami is long GS; Guy Adami is long INTC; Guy Adami is long AGU; Guy Adami is long MSFT; Guy Adami is long NUE; Guy Adami is long BTU; Scott Nations is long SPY; Scott Nations is long C; Scott Nations is long BAC; Scott Nations is long JPM
CNBC.com with wires.