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RIM Shares Tumble Again After Nokia Warning


TORONTO (Reuters) - Shares of Research In Motion extended a two-day slide on Wednesday on concerns that a profit warning from Finland's Nokia could presage more difficulties for the Canadian maker of the BlackBerry smartphone.

As with Nokia, RIM is losing market share as consumers line up to buy Apple's iPhone and devices based on Google's Android technology.

"Nokia cited Android pressures in Europe at all price points. This is impacting RIM as well," said Avian Securities analyst Matthew Thornton.

Shares of RIM, which fell 4.4 percent on Tuesday, dropped a similar percentage to a fresh five-year low on the Toronto Stock Exchange on Wednesday, after Jefferies analyst Peter Misek wrote that the Nokia warning was a bearish signal for RIM.