The technology sector closed the day down 2.2%. Powerwave Technologies Inc ( PWAV), CyberDefender ( CYDE), Nexxus Lighting Inc ( NEXS), and ON Semiconductor Corporation ( ONNN) were all decliners today within the technology sector with Research in Motion ( RIMM) being today's featured technology loser. Research in Motion fell 90 cents (-3.9%) to $22.31 on light volume. Throughout the day, 11.2 million shares of Research in Motion exchanged hands as compared to its average daily volume of 25.7 million shares. Research In Motion Limited (RIM) designs, manufactures, and markets wireless solutions for the worldwide mobile communications market. Research in Motion has a market cap of $11.7 billion and is part of the telecommunications industry. The company has a P/E ratio of 4.4, above the average telecommunications industry P/E ratio of 4.1 and below the S&P 500 P/E ratio of 17.7. Shares are down 60.1% year to date as of the close of trading on Tuesday. TheStreet Ratings rates Research in Motion as a hold. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, weak operating cash flow and a generally disappointing performance in the stock itself.
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