RIM (RIMM) Slumps on Analyst Call, Delayed Launch
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Price: $14.64 +12.36%
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 9 | New: 21
Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 9 | New: 21
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Research In Motion (Nasdaq: RIMM) shares are trading markedly lower Friday morning following a couple of news bits.
First, Sprint Nextel (NYSE: S) said it was going to delay the launch of RIM's newest Curve, the BlackBerry Curve 9350, citing "unexpected circumstances" on the move. Sprint now expects to release the device some time in October.
Sprint previously expected to launch the device on September 9th with a $49.99 per month contract. Rumor mongers might point to a potential launch of Apple's (Nasdaq: AAPL) iPhone 5 and iPhone 4 for Sprint, but customers aiming to equip themselves with a BlackBerry Curve are unlikely to be swayed by Apple's delectable offering. Might just be a supply chain issue or further contract negotiations.
Elsewhere, Jefferies downgraded RIM from Hold to Underperform this morning, but kept a price target of $25. Click here for more color on that call.
Ahead of the opening bell Friday, RIM shares are about 3.6 percent lower.
First, Sprint Nextel (NYSE: S) said it was going to delay the launch of RIM's newest Curve, the BlackBerry Curve 9350, citing "unexpected circumstances" on the move. Sprint now expects to release the device some time in October.
Sprint previously expected to launch the device on September 9th with a $49.99 per month contract. Rumor mongers might point to a potential launch of Apple's (Nasdaq: AAPL) iPhone 5 and iPhone 4 for Sprint, but customers aiming to equip themselves with a BlackBerry Curve are unlikely to be swayed by Apple's delectable offering. Might just be a supply chain issue or further contract negotiations.
Elsewhere, Jefferies downgraded RIM from Hold to Underperform this morning, but kept a price target of $25. Click here for more color on that call.
Ahead of the opening bell Friday, RIM shares are about 3.6 percent lower.
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