Thursday, April 2, 2009

RIMM Shares Surge in After Hours Trading

Shares of Research in Motion (RIMM) surged nearly 25% in after hours trading today after reporting earnings of $0.90 per share. Analysts were expecting just $0.84 per share.

The Asset Design Center's TRENDSETTER reported on RIMM in its end of the month report Saturday night as one of the tech stocks we were buying to start the month of April. Those with core portfolio positions acquired the stock at $43 yesterday morning. Shares were trading at 60.58 in evening trading.

We also purchased Qualcom (QCOM) at 38.27. Qualcom has also participated in the rally jumping nearly 8% to 41.31 at the close today.

Another Core Portfolio stock, Monsanto (MON) reported earnings today. Before extraordinary items, earnings came in at $2.16 but after extraordinary expenses, earnings of $1.97, were less than analysts' $2.20 estimates.

Behind the numbers, Corn and Soybean seed sales surged in the quarter ending February 28. Seed sales overall surged 20% in the quarter. Year over year revenues increased by 8.3%. After soaring to 85.75 interday, shares settled back to 81.41. Still, overall Monsanto is one of our core portfolio's best performing stocks, up this year more than 15%. Our position was further enhanced with the sale of out of the money Leap Puts which have added to MON's position profit.

Other strong performers are Kohls, (KSS) which we added at the begining of February (up 29.6%) and Potash (POT), up 15.76% on the year. Overall, the core portfolio is up more than 5% year-to-date.

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