RIM stock rises, falls

Stock in Research in Motion (TSX:RIM) whipsawed again last this week as markets reacted to ongoing speculation about the future of the troubled BlackBerry maker.

Stock in Research in Motion (TSX:RIM) whipsawed again last this week as markets reacted to ongoing speculation about the future of the troubled BlackBerry maker.

On Thursday, RIM shares shot up on the Toronto Stock Exchange amid news reports that the company had engaged investment banker Goldman Sachs to explore its strategic options.

Asked to comment on the report, the Waterloo, Ont.,-based company issued an email response Friday that said only: “Sorry, RIM’s standard policy to decline comment on rumours and speculation.”

The company’s stock, after trending upward again early Friday, fell back to close with a loss of 24 cents at $16.56, giving back most of the previous day’s gains.

RIM has been the target of takeover talk for months, its stock having lost some 75 per cent of its value over the past year amid faltering smartphone and table sales in the important U.S. market.

Many investors hold RIM founders Jim Balsillie and Mike Lazaridis responsible for the company’s problems, including a slowness to bring out new products to meet new market competition.

Many are also dissatisfied with RIM’s leadership structure in which Lazaridis and Balsillie share duties as both co-chairmen and co-CEOs.

The RIM board has launched a review of the company’s governance structure and there have been suggestions that the two men might be willing to give up their roles as co-chairmen.

Barbara Stymiest, an independent member of the RIM board , is considered to be a leading candidate to take over the post. Stymiest, 55, is a former chief executive of the TSX Group who left the stock market operator to become chief operating officer of RBC Financial Group (TSX:RY). She retired from the bank last year.

Just Posted

‘I’m choosing not to be a victim,’ Danforth shooting survivor says

TORONTO — Danielle Kane struggled with depression in her 20s and even… Continue reading

Separate lightning strikes hit two vehicles near Ponoka

No one injured in lightning strikes on Thursday morning

Government changes working conditions to meet wildfire observers’ needs

Wildfire observers opposed mandatory days off with no pay

More RCMP resources recommended for Red Deer’s downtown and other priorities

City council to consider where to designate three additional officers

Fashion Fridays: 5 casual summer dress styles

Kim XO, helps to keep you looking good on Fashion Fridays on the Black Press Media Network

Air Force will end search for missing Quebec businessman and his son

MONTREAL — The Royal Canadian Air Force said Saturday it will gradually… Continue reading

Panel orders federal judge to reconsider Trump appeal

WASHINGTON — An appeals court on Friday ordered a federal judge to… Continue reading

What consumers can do as regulators weigh compounds’ risks

WASHINGTON — The government is trying to sort out how to handle… Continue reading

Technology, temporary help keeps farmers on job longer

ALEXANDRIA, Ind. — At 79 years old, Art McManus says he’s still… Continue reading

Standoff on Hawaii mountain is about more than a telescope

HONOLULU — Protesters fighting the construction of a giant telescope on a… Continue reading

CRA program to help poor file taxes yields noticeable bump in people helped

OTTAWA — A federal program designed to help low-income Canadians file their… Continue reading

Blue Jays bat around in 4th and 6th, rout Tigers 12-1

Blue Jays 12 Tigers 1 DETROIT — Marcus Stroman breezed through seven… Continue reading

Alberta judge denies B.C.’s bid to block ‘Turn Off the Taps’ bill

CALGARY — A Calgary judge has denied British Columbia’s attempt to block… Continue reading

Most Read