Stocks to Watch: RIM, Red Hat, Nike

TheStreet.com

NEW YORK -- Research In Motion RIMM reported a fiscal third-quarter loss Thursday that was narrower than Wall Street's expectations.

The stock of the BlackBerry maker moved higher in after-hours trading Thursday but reversed course during an earnings call after RIM said it would change the way it charges customers service fees, putting a key source of revenue at risk.

RIM also said said spending on the launch of BlackBerry 10 will drive a fourth-quarter operating loss.

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Red Hat RHT posted third-quarter sales that topped analysts' estimates and it announced Thursday it was acquiring ManageIQ, a cloud software company, for $104 million in cash.


Nike's NKE second-quarter earnings fell 18% but topped expectations because of strong demand in North America.

Revenue in the quarter rose 7% to $5.96 billion. Nike brand revenue rose 11%.

Nike said orders for shoes and apparel to be delivered between December and April rose 6% from last year to $9.3 billion.

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Walgreen WAG is expected by analysts Friday to report fiscal first-quarter earnings of 70 cents a share on revenue of $17.45 billion.


Crane CR said it would acquire privately held MEI Conlux Holdings and its Japanese affiliate for about $820 million.

MEI makes electronic bill acceptors.

Crane is buying MEI from Bain Capital and Advantage Partners.


Greenbrier Cos. GBX rejected a sweetened bid from American Railcar Industries ARII , which is controlled by investor Carl Icahn.

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The board of flash-memory maker SanDisk SNDK approved an additional $750 million for stock buybacks, bringing the total stock repurchase authorization to $1.25 billion.


-- Written by Joseph Woelfel

>To contact the writer of this article, click here: Joseph Woelfel

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