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Research In Motion Drops on Charge, Downgrade
Research In Motion(RIMM Quote) shares tumbled Friday, hit by a downgrade from RBC Capital and news that the company plans a new quarterly charge.
The Canada-based maker of the Blackberry e-mail device said it plans to take a new charge of $7 million to $8 million in its fourth quarter, due to expenses related to a patent-infringement lawsuit.
Meanwhile, RBC Capital downgraded its rating on Research In Motion to underperform from sector perform, and cut its price target to $10 from $12. ...
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