RIMM Has Issues

RIMM Has Issues

9:00am (EST)

Research in Motion (RIMM, $66.78, down $0.44)) said their BlackBerry network is suffering major delays as users are having trouble getting emails this morning. The outage started last night and BlackBerry users in many parts of Asia including China and India, also were reporting downtimes.

Talk about a PR nightmare…it’s the second time in less than a week that BlackBerry users in North America have had issues with e-mail outages. RIMM held up well after reporting earnings but we still think the stock is headed to double nickels ($55/ share).

Red Hat (RHT, $29.87) is expected to open near $32 after reporting earnings after the market close yesterday. The company reported a profit of $34 million or $0.17 cents a share, versus $37 million or $0.18 a share for the year-ago period. Wall Street was expecting 16 cents a share.

As far as economic news, the Commerce Department said consumer spending jumped 0.5% in November, while incomes gained 0.4%. The bulls’ are loving the latest batch of news as they look to take the market higher for the fourth day in a row.

As we head to press, Dow futures are up 12 to 10,420.

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