RIMM- Fake first headline:

Quote from bearnbull:

If the authorities can prove that this was indeed a manipulation can RIMM be penalize? I hope they do. It's almost like they were aiming at day traders and swingers--with this kind of report.
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Whatever, Christmas bonuses get delivered early to those IR guys for what they did. :p There's a difference between manipulating and suckering.
 
Quote from Rearden Metal:

IMO, today's RIMM options volume wasn't unusually large at all, considering the circumstances. That's not the part that smells bad...
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Yeah all I saw was someone got stuck with a chitload of 80 puts. I'd buy the dip and wait for euphoria before trying to bear this thing. :p
 
Under the thread: Trading - Stocks - Risk of Intraday Price Shocks, someone posted a link to a story about fake press releases and the risk to market players. s/b more of a risk going forward as hackers could probably even get into Reuters or Bloomberg terminals if they wanted.
 
This is from Fly on the wall

September 28, 2006
17:30 RIMM reports Q2 EPS of 74c vs consensus estimate of 71c
Reports Q2 revenue of $658.5M versus consensus estimate of $643.6M . Reports Q2 subscriber additions of 702K. Sees Q3 subscribers addtions of 800K. Sees Q3 EPS of 90c-97c adjusted versus consensus estimate of 77c. :theflyonthewall.com

17:20 RIMM to re-state GAAP earnings by $25M-$45M since IPO in 1997
RIMM said Thursday that although the option review is ongoing, it is currently expected that the potential effect of such restatement will be to increase the amount of non-cash charges associated with past option grants and thereby reduce the amount of the Company's previously reported GAAP earnings by an aggregate amount of approximately $25M-45M over the period since the company's IPO in 1997.

17:17 RIMM announces management-initiated stock option review

17:01 RIMM conference call delayed until 17:15 EDT-Dow Jones

16:56 RIMM delays conference call; no reason given-Dow Jones
The call was set to start at 5:00 p.m. EDT. The Q2 earnings haven't been released, Dow Jones reported.
 

Attachments

At 4:57, Marketwatch.com reported that Rimm was postponing conference call- No reason given. At 5:06 it reported that the conference call would be delayed for 15 minutes.
 

Attachments

The question is : what will happen come tommorow at open? And what will the aftermath bring? I tend to stay away from making calls, but this seems a little too manipulated not to attract some attention.
 
Quote from Rearden Metal:


1) Did this fake headline appear anywhere other than briefing?
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AP:

http://biz.yahoo.com/ap/060928/rim_stock_options.html?.v=2

Quote from Rearden Metal:


2) Where the fuck does <b>fake news</b> come from? Anyone else get the feeling this was anything but an honest mistake?
IMO, this looks like a deliberate manipulation, designed to create an opportunity for the manipulators to pick up some cheap stock.
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how about the stock going down because of restated earnings?

http://biz.yahoo.com/iw/060928/0167745.html
 
looks the times&sales at the last trade 17:18:07 and the first trade at 17:18:08... i don't have the time in ms but i think it really small...

88.49 to 80.11 !:cool: 8.38 pt ! Freakin



you need big balls to handle it
 
Quote from Rearden Metal:


But briefing really did report that RIMM's earnings release has been <b>delayed/postponed</b> as a result.
The headline implied that the earnings release would be delayed by <b>days</b>, and wouldn't be coming out today at all.

Obviously, that bit of fake news couldn't have possibly come from RIMM.
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100% agreed.

I absolutely observed the same thing.
 
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