Tectonic Shift
Research In Motion Ltd. (RIM) plunged 19 percent, the biggest decline in more than a year, after posting a loss and delaying the next BlackBerry operating system, increasing pressure on the company to find an acquirer.
RIM reported a first-quarter loss yesterday of 37 cents a share, excluding some items, more than five times bigger than what analysts had predicted. Sales tumbled 43 percent to $2.8 billion, missing a prediction of $3.05 billion, and the company said it would cut 5,000 jobs.
It has been 5 years, to the day, since the release of the iPhone.
