Research in Motion (RIMM) is trading up $12 in the pre-market after reporting earnings and raising guidance after the close yesterday. Below we provide all times that RIMM has gapped up at the open following an earnings report since 2001. As shown, the average open to close change when RIMM has historically gapped up on earnings has been 2.82%, with gains 62.5% of the time.
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Looking at large positive gap openings for RIMM regardless of the catalyst (earnings, news, etc) shows a similar trend to its typical pattern on positive earnings report days. Today's gap opening (+25%) is likely to be the second strongest in the stock's history, and the eighth positive gap of more than 15%. Following the prior seven 15%+ gaps, RIMM has averaged a gain of 4.9% from the open to close with positive returns 71% of the time.
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