Mid Week Mixed Bag Trading, But there is One Winner (RIMM)

The market is trading on light volume as the world waits on what the Powers-that-be will report this afternoon.

This morning we heard that durable goods orders fell 1.0% in June which was worse than an expected 1.1% gain. The manufacturing sector is not up to par with expectations but there happens to be one stock today that is trading up and on good news.  It just happens to be one of the players from yesterday's Masters New Watch List: RIM, Patriot, and D. R. Horton.

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You bet, today's winner is Research in Motion (NASDAQ:RIMM) which we highlighted yesterday.  RIMM shares are trading at $54.64, up 2.75% or $1.46 and volume is currently at 5,621,697 shares traded.

Here's why the stock is trading up today -- British Columbia (Reuters) - Shares of BlackBerry smartphone maker Research In Motion Ltd (RIMM) jumped early on Wednesday on speculation it is set to unveil a long-awaited touchscreen handset designed to battle Apple Inc's (AAPL.) popular iPhone.

RIM is expected to announce the launch of the slider 9800 handset at a joint BlackBerry-AT&T Inc (T) event in New York next Tuesday morning.

"The timing makes sense (for this to be the 9800 launch)," said Avian Securities analyst Matt Thornton.

"The earlier they are going to say it is going to be available on the shelves the better. They don't want to miss one of the key seasons," he added, referring to the lucrative back-to-school period for retailers.

SOURCE: http://ca.reuters.com/article/businessNews/idCATRE66R3C620100728