Stock Downgrades: RIMM, PALM, ODP
Stock News
Dallas, TX 11/02/2009 07:43 PM GMT (TransWorldNews)
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Research In Motion Limited (USA) (NASDAQ:RIMM) corrected 6.71% to $54.79 on a volume of 24.25 million shares after the company was downgraded by Citi from "buy" to "sell". Simply put, there is an invasion of new phones, applications, and competition," Citi Investment Research analyst Jim Suva wrote to clients. Research In Motion Limited is a designer, manufacturer and marketer of wireless solutions for the worldwide mobile communications market.
Palm, Inc. (NASDAQ:PALM) declines 2.93% to $11.27 on over 11.16 million shares the company was downgraded by Citigroup from "Hold" to "sell". Palm, Inc. is a provider of mobile products for individual users and business customers worldwide. Palm’s products for consumers, mobile professionals and businesses include Palm Pre, Treo and Centro smart phones, as well as software, services and accessories.
Office Depot, Inc. (NYSE:ODP) slips $0.21 or 3.45% to $5.84 on over 8.12 million shares after Credit Suisse gave the Specialty Retail, Other industry some bad news as it announced that the company was downgraded from Neutral to Underperform. Office Depot, Inc. is a global supplier of office products and services. The Company is organized into three business segments: North American Retail division, North American Business Solutions division and International division. Its sales are processed through multiple channels, consisting of office supply stores, a contract sales force, an outbound telephone account management sales force, Internet sites, direct marketing catalogs and call centers, supported by its network of crossdocks, warehouses and delivery operations.
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