RIM Shares Trade Lower After CEO’s Warning

BY WILL CONNORS

TORONTO—Research In Motion Ltd.’s shares fell sharply Wednesday as investors fled the BlackBerry maker after its chief executive warned of worse-than-expected first-quarter results and as hopes for a turnaround diminish.

Shares in RIM closed 7.8% lower at $10.35 on the Nasdaq Stock Market, after falling more than 10% at the start of the session.

RIM Chief Executive Thorsten Heins said late Tuesday that sales of existing BlackBerrys were lagging behind rivals and that the company had hired investment banks J.P. Morgan Securities and RBC Capital Markets to help consider strategic options.

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