Research in Motion Plunge, Taking Sector Lower
Friday, June 17, 2021 2:15 PM

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Shares of Research in Motion Limited (Nasdaq: RIMM) fell hard on Friday morning as the BlackBerry maker slashed its forecast, pulling the rest of the sector lower. Shares of RIMM lost 21.23 percent to $27.83 on Friday. In the broader market the Nasdaq composite index fell 0.09 percent to 2,621.38, and Morgan Stanley Hihg-Technology Index (MSH) was down by 0.42 percent to 623.70 points. Among other decliners in the sector were, Intel Corp. (Nasdaq: INTC), down 1.26 percent to $21.15, Google Inc. (Nasdaq: GOOG) was trading lower by 2.03 percent to $490.21. Google was in the news today after Oracle gave the statement that it is seeking billion of dollars in damages as part of its litigation with Google Inc. (Nasdaq: GOOG) related to patent and copyright-infringement of Oracle’s intellectual property in its Android mobile phone software. Advanced Micro Devices Inc. (NYSE: AMD) was down 3.20 percent to $6.96. Among the gainers were, Oracle Corp. (Nasdaq: ORCL) adding 1.756 percent to $31.34, International Business Machines (NYSE: IBM), up 0.72 percent to $163.84, and Amazon.com Inc. (Nasdaq: AMZN) up 1.23 percent to $185.91. Among the ETF’s, the Technology Sector Select SPDR Fund ETF (NYSEArca: XLK) was trading marginally higher by 0.02 percent to $24.48 and SPDR Morgan Stanley Technology ETF (NYSE: MTK) trading down 0.38 percent to $62.12 on Friday.
 

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