RIM Stock Ripens on Juicy Earnings Report

On the eve of Apple’s big iPhone push, mobile communications market powerhouse Research In Motion reported astoundingly strong BlackBerry sales. RIM’s earnings were up 73 percent for the quarter ending June 2, beating expectations and surprising Wall Street. The stock price surged more than twenty percent Friday, rising more than $33 and reaching over $199 a share. In addition, RIM announced a three-for-one stock split in the form of a stock dividend that will be payable on August 20.