New York (December 13th, 2012) - Research In Motion Limited (NASDAQ: RIMM), the maker of Blackberry smartphones, is continuing to rally in mid-day trading today. At last check, RIMM was trading 4.72% higher at $13.94 on above average volume of 42.56 million. The stock has now gained more than 17% in the last three trading sessions.
RIMM has been gaining momentum ahead of the release of the company’s third-quarter results next week. RIMM, in fact, has had an excellent run since the start of November. The stock has been gaining as investors hope that the launch of two phones and new operating system will help in the company’s turnaround efforts.
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Zagg Inc. (NASDAQ: ZAGG), a designer, manufacturer and distributor of protective coverings, audio accessories and power solutions for consumer electronics and hand-held devices, is soaring in mid-day trading today.
ZAGG has surged in trading today after the company announced a share repurchase program earlier today. The company said that it may buy back up to $10 million of its outstanding common stock from time to time in the open market under the repurchase program. On Wednesday, ZAGG had also announced that it entered into an $84 million credit facility with Wells Fargo Bank, consisting of a $24 million 2-year term note and a $60 million revolving line of credit.
ZAGG is currently trading 13.78% higher at $8.09 on volume of 1.68 million, which is nearly three times the daily average volume of 647,592.
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