Market Watch: Research In Motion shares slump following forecast

Source:

LOS ANGELES (MarketWatch) — Research In Motion Ltd. shares dropped late Thursday, with the lower end of the mobile-device maker’s second-quarter forecast coming in just under Wall Street’s projections.

Research In Motion (RIMM 76.28, -0.27, -0.35%) (CA:RIM 86.80, -0.36, -0.41%) fell 5.3% to $72.51, but managed to pare steeper declines. With nearly 8 million shares exchanged, RIM topped Nasdaq’s list of volume movers. The maker of the BlackBerry line of smart phones said it expects second-quarter revenue of $3.45 billion to $3.7 billion. Analysts are currently looking for $3.61 billion, according to analysts polled by FactSet Research.

RIM also expects earnings in a range between 94 cents a share and $1.03 a share. Analysts currently expect earnings of 95 cents.

Related Posts:

Tags:

Leave a Reply


+ 4 = seven