* Research in Motion (NASDAQ:RIMM) shares dropped nearly 5% in after hours trade following its fiscal first quarter report and second quarter guidance. Ex-items the Blackberry maker earned 98 cents a share, beating estimates of 94 cents, on inline revenues of $3.42 billion, up 52.7% year-over-year.However, the company said it expects second quarter earnings of $0.94 to $1.03, inline with estimates, with revenues of $3.45 billion to $3.7 billion, at the low end of projections.Shares have since rebounded in early trade this morning on positive analyst comments
* Caterpillar (NYSE:CAT) reported in a filing that its May machine sales plunged 57% from a year earlier, as the drop in its retail machine sales accelerated
* Goldman Sachs’ (NYSE:GS) added Microsoft (NASDAQ:MSFT) to its conviction buy list with an increased price target of $29, citing better sales drivers and cost management
* UAL (NASDAQ:UAUA) said its second quarter traffic numbers may drop as much as 10.5%, sending its shares 4% lower along with 4.4% declines in American Airlines (NYSE:AMR) and 3.2% in Delta (NYSE:DAL).British Airways (NASDAQ:BAIRY) CEO Walsh said the industry has yet to feel the worst of the recession
* Oracle (NASDAQ:ORCL) received a 30% share price target increase to $26 from Morgan Stanley (NYSE:MS), noting its latest release of business development software and the closing of the Sun Microsystems (NASDAQ:JAVA) deal
