Research in Motion reamed on downgrade as mobile air war heats up


BlackBerry-maker Research in Motion (RIMM) saw its stock price slammed Monday on an analyst downgrade ahead of Motorola's (MOT) Droid launch. RIM shares closed down over five percent after Citigroup cut its rating on the stock from a buy to a sell citing increased competition.

"Simply put, there is an invasion of new phones, applications, and competition," Citi Investment Research analyst Jim Suva wrote in a note to clients.