Deals
RIM’s Shares Plunge After Company Reports Surprise Loss
This article is for subscribers only.
Research In Motion Ltd., the struggling maker of the BlackBerry smartphone, fell 11 percent after forecasting an operating loss for the first quarter and hiring banks to advise on strategic options.
JPMorgan Chase & Co. and RBC Capital Markets have been hired to help RIM evaluate options, including forging partnerships, licensing its software and looking at “strategic business model alternatives,” the Waterloo, Ontario-based company said yesterday in a statement. RIM also is attempting to streamline operations by reducing spending and headcount.