Stocks Recover: RIM, KB Home, Orbitz
Finally some stocks rallied this afternoon for the first time in weeks, including Research in Motion (NASDAQ:RIMM) finishing positive for the first time this week, other winners included KB Home (NYSE:KBH) adding 4.5% and Orbitz Worldwide (NASDAQ:OWW) jumping 12.5%.
Orbitz Worldwide, Inc. (OWW) announced on Thursday morning that it beat consensus Wall Street earnings estimates, while failing to meet revenue expectations. The company reported that its 2nd quarter net income fell 5% to $9.7 million, or 9 cents per share, down from $10.3 million, or 12 cents per share, a year earlier. OWW's revenue rose 3% to $193.5 million, up from $188 million a year earlier.
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According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 5 cents per share, on revenue of $198.16 million. The company forecast 3rd quarter revenue growth in the range of 3% to 6% over the previous year's 3rd quarter.
Over the past 12 months Research In Motion Ltd (RIMM) shares have traded between $46.56 and its 52-week high of $88.08. RIM shares have taken a huge beating this month losing 16% and are now trading with a P/E Ratio of 10.3 and EPS of 4.57. Since mid March RIMM shares have dropped 36% and hit a new 52-week low of $45.56 on Tuesday. Research in Motion shares closed the day at $47.74, up 1.45% or $0.68 and its stock has inched up 2.47% from its 52-week low.
KB Home (KBH) shares have traded between $9.43 and $20.7 over the past 12 months. KB Home shares are now trading with a P/E Ratio of 0 and EPS of -0.67 and its shares have moved up 10.19% from its 52-week low.