Summary Box: BlackBerry maker RIM's profit warning

AP News
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Posted: Apr 28, 2011 7:57 PM
Summary Box: BlackBerry maker RIM's profit warning

BLACKBERRY DOWN: Research In Motion Ltd., the maker of the BlackBerry, cuts its sales and earnings forecasts for the current quarter, which ends in May.

THE REASON: RIM hasn't launched a fresh high-end BlackBerry in a while, and it's losing out to competitors.

STAYING POSITIVE: The company is sticking to its full-year forecast, saying new models will turn things around. But investors are skeptical, sending the stock down.