The Buzz

All markets and investing news all the time

RIM gets its groove back with BlackBerry 10

December 13, 2012: 1:00 PM ET

Click the chart to track Research in Motion's stock.

Research in Motion is hoping to get its groove back with the upcoming launch of BlackBerry 10, but whether it will work is anybody's guess.

For now, investors are willing to give the company somewhat of a chance. Shares of RIM (RIMM) rose 5% Thursday following news that the U.S. Immigration and Customs Enforcement agency will begin a pilot program early next year to test the company's new smartphones and the operating system.

It's a curious move. Just two months ago, it seemed that the federal agency was moving away from BlackBerry devices to Apple (AAPL) iPhones. In fact, it said it was ordering more than 17,000 iPhones for its employees, at a cost of more than $2 million.

But it seems ICE isn't making a decision one way or the other just yet.

"We're not backing away from BlackBerry or iOS," said ICE spokesman Barbara Gonzalez. "We've had a long and good relationship with RIM and plan to continue that."

Related: RIM's fate hangs on BlackBerry 10

While some ICE employees are using iPhones, some have continued to use BlackBerry phones as well, she said. And for now, the agency is going to maintain "a set of services"-- meaning both options.

While Gonzalez declined to provide details on the pilot program, she said the agency is developing mobile applications for law enforcement agents and exploring how BlackBerry 10 will fit in with the agency's mobile solutions in the future.

The development fired up quite a bit of chatter among StockTwits traders:

$RIMM It never made sense that government agencies would adopt a BYOD or iphone policy. They were ok with trading security for fashion tech?

While BlackBerry's security and email delivery capabilities once gave RIM an edge, they have been nearly matched by other phone makers, including Apple. That has led to a phenomenon known as Bring Your Own Device, in which corporate customers have also been increasingly willing to let employees work on phones of their choosing.

And, of course, ICE is not the only government agency to begin making a shift. Earlier this year, the Bureau of Alcohol, Tobacco, Firearms and Explosives and the National Oceanic and Atmospheric Administration also announced they were switching from BlackBerrys to iPhones for their staffers.

$RIMM Blackberry 10 hopes reminds me of Palm OS launch w/too few apps that few are developing for. Looks like run to 15 likely technically.

@pkedrosky Worthwhile to note that $AAPL's daily fluctuations in value usually exceed the total market cap of $RIMM, which is now about $7B.

Yikes. But for what it's worth, shares of RIM have had a nice little run lately, up more than 100% since the end of September.

RIM stock has been a rocket in motion lately. 7-month high today. #RIM $RIMM

$RIMM - will crash hard, on next earning, company doing nothing to turn around, bb10 where is it?

The new operating system is slated to debut January 30. Of course, that's a year after the company's smartphones and software were initially expected to go on sale.

"@Dasan$RIMM still shows over 100 million shares short, per Bberg." With many more saying they'll short at 15.

Join the Conversation
Fear & Greed
Sponsored by
About This Author
Hibah Yousuf
Hibah Yousuf
Reporter, CNNMoney

Hibah Yousuf is a reporter at CNNMoney, where she covers stocks, bonds, commodities and currencies trading across the globe, as well as corporate earnings and other markets-related news. Prior to joining the site in 2009, she interned at Money Magazine.

To view my watchlist

Not a member yet?

Sign up now for a free account
Stupid Stock Move of the Day
#StupidStock Move of the Day! Yes, Urban Outfitters may be finally turnings things around. But $URBN up 17%? Seems a bit excessive, no?
Most Popular
Powered by VIP.