Tuesday, March 22, 2011

Stocks In Focus: RIMM, BMY, DTG

stock trader

Research In Motion Limited (NASDAQ: RIMM) on Tuesday announced that the BlackBerry PlayBook tablet will be sold starting April 19 from all Best Buy (BBY) stores and Best Buy Mobile stores in the U.S.

Shares of Bristol-Myers Squibb Co. (NYSE: BMY) rallied as much as 5% in Tuesday's pre-market trading after the drugmaker said that its much anticipated experimental drug ipilimumab extended survival of previously untreated patients with advanced melanoma in a late stage study. The Food and Drug Administration in November delayed its approval decision to give it more time to review data on the medicine, setting a new action date of March 26.

Dollar Thrifty Automotive Group Inc. (NYSE: DTG) on Tuesday raised its forecast for 2011 adjusted earnings before interest, taxes, depreciation and amortization, citing lower fleet cost expectations and improving confidence in the upcoming summer rental season. The Company noted that it now expects Corporate Adjusted EBITDA, excluding merger-related expenses, to be within a range of $235 million to $260 million for the full year of 2011, an increase of $60 million, or approximately 30 percent, from the Company's previously announced guidance range.   The Company noted that conditions in the used vehicle market have remained very robust during the first three months of 2011, with tight supplies of late model used vehicles and high demand driving residual values to new record levels. Based on information currently available, the Company believes industry fundamentals will remain favorable, positively impacting residual value estimates. Accordingly, the Company is lowering its estimate for vehicle depreciation per unit to a range of $240 to $250 per month for the full year of 2011.

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