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RIMMberrr II - The Playbook Strikes Back

Tyler Durden's picture




 

Like any good sequel, RIMM's earnings tonight did not disappoint (those looking for a disaster flick). Expectations were high (low), but we all suspected that it might not quite live up to the pre-quel, same actors and three months later. Well the reviews are in and RIMMberrr II is a winner (major loser) -18.5% (beating - to the downside - the measly -14.5% initial reaction in the prior release).

EPIC headlines include:

*RESEARCH IN MOTION 2Q OPER EPS 80C, EST. 88C            :RIM CN

*RESEARCH IN MOTION SEES YR ADJ. EPS TOWARD LOW END OF VIEW

*RESEARCH IN MOTION 2Q REV. $4.17B, EST. $4.47B         :RIM CN

*RESEARCH IN MOTION 2Q GROSS MARGIN 38.7%               :RIM CN

*RESEARCH IN MOTION 2Q PLAYBOOK TABLET SHIPMENTS 200,000

 

and the real winners are (drum roll please)...though we note some have been lightening up:

Chart: Bloomberg

 

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Thu, 09/15/2011 - 17:19 | 1674775 Biggvs
Biggvs's picture

Line 13 = Kweku Adoboli. UBS would never make such a mistake. :p

Thu, 09/15/2011 - 17:12 | 1674780 spiral_eyes
spiral_eyes's picture

Cramer will be telling you all to BTFD in RIMM soon... if he isn't already.

Thu, 09/15/2011 - 17:13 | 1674786 The Cash Flow i...
The Cash Flow is King's picture

The chart looks like the mona lisa smiling. 

 

www.thecashflowisking.com 

Thu, 09/15/2011 - 17:13 | 1674787 mynhair
mynhair's picture

Are the green ones those holding shorts?

Thu, 09/15/2011 - 17:16 | 1674806 max2205
max2205's picture

NFLX is the new RIMM

Thu, 09/15/2011 - 17:19 | 1674825 virgilcaine
virgilcaine's picture

ROBO,S TOP HOLDING...LOL

Thu, 09/15/2011 - 17:20 | 1674827 Waterfallsparkles
Waterfallsparkles's picture

It was just 2 years ago that you could not short that stock as it always burn shorts.  Amazing that it has come full circle.  It appears that so many people got burnt that they would not short the stock.  Hence, no one wants to own it or short it.

I tried to short it a few times, never got burnt but got out by the skin of my teeth.  Never shorted it again and stayed away. Lesson learned, yet when shorts went away, anyone that eventually did short it made mega bucks.

Thu, 09/15/2011 - 17:25 | 1674867 Almost Solvent
Almost Solvent's picture

Makes you wonder "who" knows when to hold 'em and when to fold 'em

Thu, 09/15/2011 - 17:22 | 1674835 JB
JB's picture

Should have cut a deal with Google...

Thu, 09/15/2011 - 17:49 | 1674996 jdelano
jdelano's picture

Should ditch chasing apple and focus on becoming the most secure (encrypted) data/voice phone in the market. Untappable. Then they could corner a niche in the market selling phones to the pentagon, the fed, raj, and Goldman. I know, I'm like effin steve jobs up in dis bitch.

Thu, 09/15/2011 - 17:23 | 1674849 adr
adr's picture

Obama will just give every college kid a free Blackberry as a present for being enslaved to the government when they take out $120k in student loans to end up with a job at McSlaveyD's.

Bullish!!!!!!

Thu, 09/15/2011 - 19:31 | 1675418 Pool Shark
Pool Shark's picture

 

 

Nah, one Black-Barry is enough...

oops; forgot. Barry's only half-black...

 

Thu, 09/15/2011 - 17:24 | 1674858 TheLooza
TheLooza's picture

I caught a massive piece of the NFLX downside action today.  so many more zeros and ones in my ameritrade acct than just 24 hours ago.  this could be a 3 hooker night for me, not gonna lie.

 

 

Thu, 09/15/2011 - 17:31 | 1674901 falun bong
falun bong's picture

There's a whole category called KAG: Killed by Apple and Google. Plenty of choice names.

Thu, 09/15/2011 - 17:34 | 1674917 Caviar Emptor
Caviar Emptor's picture

Netflix tanking too

Thu, 09/15/2011 - 17:40 | 1674934 Market Efficien...
Market Efficiency Romantic's picture

What a great world. If your boss expects you at 7 tomorrow, tell him, it will be 11 as you have to cope with the world and if you appear at 10, he will cheer, promote you and give you a bonus.

Well. ok, if you show up at 11.05, you are seriously fucked! Four hours and five minutes late, whoe cares, what you had to face in the world.

Thu, 09/15/2011 - 17:39 | 1674943 Let them eat iPads
Let them eat iPads's picture

Getting Rimmed ain't what it used to be.

Thu, 09/15/2011 - 18:14 | 1675117 caerus
caerus's picture

rimm puts...check

Thu, 09/15/2011 - 18:26 | 1675161 alien-IQ
alien-IQ's picture

NFLX was the put of the week.

Anybody who grabbed some 180 puts yesterday is looking at a very very sweet 15,785% gain today.

That's an absolutely monster move. $2500 yesterday would have gotten you almost 400k today.

I gotta go puke now....

Thu, 09/15/2011 - 18:33 | 1675206 caerus
caerus's picture

sold my sep nflx puts yesterday thought I was being conservative pissed all day

Thu, 09/15/2011 - 18:38 | 1675220 TheLooza
TheLooza's picture

alien.  im a very active nflx player. no one in their right mind wouldve taken on the weekly Sept. 180 puts yesterday.  I made all kinds of longer dated plays, but it never crossed my wildest imagination yesterday to play that far OTM.  i did, however, go into this morning with

Sept. 200s

Sept 265s

500 shares short

Dec 220s

jan 270s

and

jan '2103 180s

 

good day. 3 hooker worthy. not going to retire yet though

 

Thu, 09/15/2011 - 18:45 | 1675253 alien-IQ
alien-IQ's picture

I agree, it would have been a total kamikaze trade to take 180 puts yesterday.

It would have been a hero or zero move with no middle ground.

but still....damn...what a move.

Thu, 09/15/2011 - 18:39 | 1675222 greased up deaf guy
greased up deaf guy's picture

i was looking at the $29s during the day and thought they were pricey ($1.70), considering they were out of the money and expiring tomorrow. $1.70 will look quite cheap tomorrow. d'oh... another lesson learned: ALWAYS buy rimm puts into the earnings call regardless of premium.

Fri, 09/16/2011 - 01:52 | 1676234 ItsDanger
ItsDanger's picture

Typically, there will be a premium with earnings coming out.  Common in option pricing.

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