RIM stock affected by Nortel rejection during bankruptcy auction

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RIM stock fell 1.43% to $81.99, after Nortel rejected their offer for CDMA and LTE technology being auctioned due to Nortel’s failing business.

The auction is part of bankruptcy protection proceedings and Nortel is claiming that RIM had refused to comply with the court approved procedures.

Overall, Canadian stocks are doing well, and the US economy is showing signs of stabilizing. Federal Reserve Chairman Ben S. Bernanke is optimistic, as all three major indexes in the US closed in positive territory.

The S&P 500 was up 3.45 points, or 0.36%, to 954.58 and the NASDAQ composite index closed at 1,916.20, up 6.91 points, or 0.36%.

[Via]

  • http://twitter.com/BlackBerryCool/statuses/2779491866 BlackBerryCool (BlackBerry Coo

    RIM stock affected by Nortel rejection during bankruptcy auction http://bit.ly/YkLVp

  • http://twitter.com/BlackBerryCool/statuses/2779491866 BlackBerryCool (BlackBerry Coo

    RIM stock affected by Nortel rejection during bankruptcy auction http://bit.ly/YkLVp

  • http://twitter.com/BlackBerryCool/statuses/2779491866 BlackBerryCool (BlackBerry Coo

    RIM stock affected by Nortel rejection during bankruptcy auction http://bit.ly/YkLVp

  • http://twitter.com/StuartCarphone/statuses/2779580337 StuartCarphone (Stuart Goss)

    RT @BlackBerryCool RIM stock affected by Nortel rejection during bankruptcy auction http://bit.ly/YkLVp (Let RIM in!)

  • http://twitter.com/StuartCarphone/statuses/2779580337 StuartCarphone (Stuart Goss)

    RT @BlackBerryCool RIM stock affected by Nortel rejection during bankruptcy auction http://bit.ly/YkLVp (Let RIM in!)

  • http://twitter.com/StuartCarphone/statuses/2779580337 StuartCarphone (Stuart Goss)

    RT @BlackBerryCool RIM stock affected by Nortel rejection during bankruptcy auction http://bit.ly/YkLVp (Let RIM in!)

  • http://twitter.com/StuartCarphone/statuses/2779580337 StuartCarphone (Stuart Goss)

    RT @BlackBerryCool RIM stock affected by Nortel rejection during bankruptcy auction http://bit.ly/YkLVp (Let RIM in!)

  • http://twitter.com/iskandar_ahmat/statuses/2788047949 iskandar_ahmat (Iskandar Ahmat

    RT @BlackBerryCool: RIM stock affected by Nortel rejection during bankruptcy auction http://bit.ly/YkLVp

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