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Wider Than Expected Loss For Research In Motion
Posted on June 29, 2012 at 12:58 PM EDT
Research in Motion Ltd. (Nasdaq: RIMM) fell to a much wider than expected loss for the first quarter of 99 cents per share compared with income of $1.33 per share in the year ago period, announced the elimination of 5,000 jobs and delayed the release new phones with its new BlackBerry 10 operating system. The stock price tumbled $1.66 to $7.47.
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