Research In Motion has taken heavy beating in recent sessions as the company has indicated more tough upcoming quarters in terms of financial performance. The company has also hired JP Morgan and RBC Capital Markets to review the feasibility of its financial strategies.
The company’s Chief Executive Officer, Mr. Thorsten Heins commented, “RIM is going through a significant transformation as we move toward the BlackBerry 10 launch, and our financial performance will continue to be challenging for the next few quarters.”
He further added that the tough competition in the smartphones market will result in lower volumes and highly competitive pricing dynamics for Research In Motion and the company is likely to report loss in the next quarter. RIM expects to increase its cash position in first quarter. The company is expecting that JP Morgan and RBC Capital Markets will assist them in reviewing of company’s business and financial performance.
Research In Motion Limited (RIMM) declined 0.68% in its last trading session to close at $10.26. Total of 18.30M shares were traded while on average the share price trades with volume figure of 17.51M shares per day. By the end of the session the stock’s price to earnings ratio stood at 4.62 times. The company’s total outstanding common stock accumulates up to 524.00M billion out of which 458.72M billion shares are floated in the stock market. Insiders hold 10.24% of the total outstanding common stock while 65.60% of outstanding shares are held by different institutions. Looking at its price history the share price has traded within the prices ranges of $10.01 to $41.27 in last one year.Previous Post » Oil Rout Continues on U.S. Slow Down