RIMM favors widening between the sessions following earnings releases. It has seen its evening performance follow-on with more aggressive, same-direction next-day trade in 13 of the last 23 quarterly reports. The near-term pattern is geared toward seeing more aggressive, same direction next-day trade following its earnings-driven after-hours trade, doing so in six of the last seven quarters.
On Sept. 24, 2009, RIMM tumbled 11.5% in the after-hours session after missing revenue expectations and setting its guidance below the Street view. The stock was hammered lower in the following regular session, ending the Sept. 25 trade down 17%.
On June 18, 2009, RIMM slipped 0.4% in after-hours trade after beating earnings expectations, meeting on revenue, and setting guidance that straddled the Street view. The stock continued to head lower the following day, closing the June 19 regular session down 4.9%.
On April 2, 2009, RIMM charged 22.5% higher in after-hours trade after reporting better-than-expected results and guidance. It narrowed its upside slightly the following day, ending the April 3 regular session up 20.7%.
On Dec. 18, 2008, RIMM edged up 0.4% in after-hours trade after topping Street estimates and setting its guidance mostly above the Street view. The stock soared higher the next day, rising 11.4% by the closing bell on Dec. 19.
On Sept. 25, 2008, SMOD declined 19% in after-hours trade after missing earnings expectations and setting weaker-than-expected guidance. The stock tumbled further the following day, closing the Sept. 26 regular session down 27.5%.
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