RIMM Drops 18%: Four Downgrades; Cash Crunch Worries
Posted on June 29, 2012 at 11:51 AM EDT
Shares of Research in Motion (RIMM) are down $1.61, or almost 18%, at $7.53, adding to losses in the pre-market session, following a much-worse-than-expected fiscal Q1 report last night, and a forecast for another operating loss this quarter, a laying off of 5,000 people, and a delay until next year of its next-generation “BB10” software. The stock has gotten [...]