“Research In Motion Ltd. (RIMM) plunged in late trading yesterday as analysts said a reduced profit forecast hurts management’s credibility and raises pressure on the company as it heads into an annual trade show next week.
The Waterloo, Ontario-based company lowered its outlook for this quarter, a month after providing figures. Profit will be $1.30 to $1.37 a share, RIM said yesterday, instead of $1.47 to $1.55, a forecast below analysts’ estimates at the time.”
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