Research In Motion (RIMM) is down more than 22% after disclosing that revenue and profits will miss expectations. Yesterday RIM said their second quarter revenue will be around 20% less than analyst estimates. Profit estimate for the second quarter is also expected to be 25% – 45% less than consensus estimates. Here are the list of hedge funds that are hammered in RIMM:
1. Brookside Capital: Lost $64 Million
2. Brett Barakett – Tremblant Capital: Had 5.7 Million Call Options. Potentially lost $43 Million if these are deep in the money call options. Barakett also had 1.8 Million shares of RIMM, costing him $14 Million.
3. Bill Miller – Legg Mason: Lost $25 Million.
4. John Kleinheinz – Kleinheinz Capital: Lost $18 Million
5. Richard Chilton – Chilton Investment Co: Lost $8 Million
6. Roberto Mignone – Bridger Management: Lost $8 Million