RIM stock rises 4% on new phone speculation

chart_ws_stock_researchinmotionltd.top.png By Julianne Pepitone, staff reporter


NEW YORK (CNNMoney.com) -- Research in Motion shares jumped 4% Wednesday on speculation that the BlackBerry maker will unveil a new smartphone next week.

RIM has scheduled a press event on Tuesday in New York City with wireless provider AT&T (T, Fortune 500), but the company declined to give further details on what it plans to announce.

Websites such as PC World posted articles speculating that the company will unveil the long-awaited Blackberry Bold 9800, a slider phone that is expected to run a new BlackBerry 6 operating system.

RIM (RIMM) teased BlackBerry 6 at its WES conference in April, and since then the company has posted several videos on its blog previewing the touch-based operating system. The new software aims to give BlackBerry parity with features available on most smartphones, including a full Web browser and a modern home screen.

RIM could use a big splash. Though the company has the highest U.S. smartphone market share, at 41.7%, growth has slowed in recent quarters as competitors eat away at RIM's sales.

The latest data from comScore showed Google's (GOOG, Fortune 500) Android platform skyrocketing from from 9% of the total U.S. smartphone market in February to 13% by May.

Apple (AAPL, Fortune 500) clocked in right behind RIM, with a 24.4% market share - a figure likely to grow, thanks to the popularity of Apple's new iPhone 4.

Shares of RIM ended Wednesday at $55.41, a 4.2% gain on Tuesday's closing price.  To top of page

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 17,826.30 -279.47 -1.54%
Nasdaq 4,931.82 -75.98 -1.52%
S&P 500 2,081.18 -23.81 -1.13%
Treasuries 1.85 -0.03 -1.49%
Data as of 5:12pm ET
Company Price Change % Change
Bank of America Corp... 15.56 -0.23 -1.46%
General Electric Co 27.25 -0.03 -0.11%
Apple Inc 124.75 -1.42 -1.13%
Comcast Corp 58.42 -1.25 -2.09%
Microsoft Corp 41.62 -0.54 -1.29%
Data as of Apr 17
Sponsors

Sections

Comcast and Time Warner Cable representatives will sit down with Justice Department officials this week amid intense scrutiny of the proposed cable company merger. More

The U.K. election on May 7 is arguably the most influential in a generation. Nina dos Santos explains why the outcome of this vote could disrupt economies around the world. More

The Smokio e-cigarette pairs with an app on your phone to keep track of how much you smoke, and how much money you've saved by not buying tobacco cigarettes. More

The home of some of the most iconic toys has teamed up with a crowdsourcing platform for inventors to find the next great toys. More