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 12,454.83 -74.92 -0.60%
Nasdaq 2,837.53 -1.85 -0.07%
S&P 500 1,317.82 -2.86 -0.22%
Treasuries 1.74 -0.01 -0.80%
Data as of 10:29am ET
Company Price Change % Change
Bank of America Corp... 7.15 0.01 0.14%
Sprint Nextel Corp 2.62 0.09 3.56%
Cisco Systems Inc 16.33 -0.06 -0.37%
Chesapeake Energy Co... 15.81 0.23 1.48%
Ford Motor Co 10.60 0.01 0.09%
Data as of May 25
Sponsors

Sections

The Senate hearing will focus JPMorgan's recent $2 billion trading loss, which Dimon announced earlier this month. More

The offer for mail handlers is part of the Postal Service's plan to cut 150,000 jobs by 2015. More

In the whirlwind of its IPO fallout, there has been a sort of glee in watching the company stumble. What's driving the Facebook-schadenfreude and what can the social network do about it? More

One in six children in the United States is obese. These small businesses have found creative -- and lucrative -- ways to fight the childhood obesity epidemic. More

In Harper County, Kansas, oil companies are offering farmers up to $1,250 an acre for the mineral rights that allow them to drill for oil on their property. More

Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2012 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2012 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2012. All rights reserved. Most stock quote data provided by BATS.