In this report: Research in Motion (NASDAQ:RIMM), US Airways Group (NYSE:LCC) and Western Digital (NYSE:WDC).
Blackberry maker Research in Motion (NASDAQ:RIMM) is trading over 6.5 percent higher today after the company announced a new service which will allow corporate customers to manage mobile devices using Blackberry, Android and iOS operating systems. The news was welcomed by investors as the company has lost significant market share of the smartphone industry recently to Apple and Google. The company is also picking up traction from an upgrade by analysts at Bernstein. The firm upped its rating on Research in Motion to ‘Market Perform’ from ‘Underperform’ and noted that the company could be a takeover target. RIMM last traded at $17.56 per share.
US Airways Group (NYSE:LCC) rallied by as much as 13 percent during morning trading on Tuesday after it was announced that rival airline AMR Corp. has filed for Chapter 11 bankruptcy protection. The move comes as AMR has failed to win a labor agreement with its pilots and has failed to profit as the cost of fuel continues to rise. US Airways also received a boost in the form of an upgrade today by analysts at Citigroup. The firm upped their rating of US Airways to ‘Neutral’ from ‘Sell’. US Airways last traded 7.7 percent higher at $4.60 per share.
Western Digital (NYSE:WDC) shares gained nearly 5 percent on Tuesday after Seagate Technologies reported a better than expected outlook for the second quarter, shedding optimism on other data storage device companies. The company said that it expects to ship 43 million units and that it will see $2.8 billion in revenue during the quarterly period. Thats at the lower end of its previous outlook which was released in October of between 40 million to 50 million units but before the impact of the devastating floods that hit Thailand.
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