RIM Shareholder Meeting: Live Blog
NEW YORK (TheStreet) - Research In Motion(:RIMM) holds its annual general meeting of shareholders on Tuesday as investors look for details about the troubled firm's long-term strategy.
The BlackBerry maker, which recently reported a worse-than-expected loss in its first-quarter results, looks set to continue its downward trajectory. In addition to the loss, RIM announced 5,000 job cuts, as well as another delay for its long-awaited BlackBerry 10 technology.
Currently in the throes of a strategic review to decide the company's future, CEO Thorsten Heins will likely face questions about his master plan during Tuesday's meeting.
According to a recent poll, TheStreet's readers think that a sale would be the best exit strategy for RIM.
There has already been chatter that the embattled maker could prove an attractive target for a number of companies, including Microsoft(:MSFT), Amazon(:AMZN), HTC or even Facebook(:FB).
Other options for RIM, according to TheStreet's poll, include carving off parts of the company's business, a Heins-inspired turnaround plan, or liquidation.
RIM had $3.37 billion worth of intangible net assets at the end of its fiscal first quarter, according to documents filed recently with the Securities and Exchange Commission. Intellectual property accounted for $3.071 billion of the company's net book value, RIM said, with acquired technology making up the remainder.
With RIM's problems mounting, however, investors have been fleeing the Canadian firm in droves. The company's shares have tanked more than 73% over the last 12 months, taking its market cap to just $3.95 billion.
--Written by James Rogers, Chris Ciaccia and Nathalie Pierrepont in New York.
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