RIM Stock Surges On Acquisition News

Research In Motion, maker of the BlackBerry smartphone, gained in Nasdaq trading after analysts said a buyout is unlikely as company executives focus on guiding their own turnaround.

RIM rose 10% to $13.78 at the New York close, the most since Oct. 5, after touching $14.14. The Waterloo, Ont.- based company’s stock has jumped at least 5% 10 times since the beginning of August on speculation that its stumbles and decline in valuation invite a takeover.

Today’s increase followed reports that Amazon.comMicrosoft Corp. and Nokia Oyj  mulled bids for the company. RIM had dropped 78% this year through yesterday.

Read the whole story at Bloomberg »
Tags: electronics
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