ANOTHER LOW: Shares of BlackBerry maker Research In Motion Ltd. dove to a nine-year low. RIM shares have lost 94 percent of their value since their 2008 peak.
THE SPARK: Morgan Stanley downgraded the stock, saying RIM's challenges are piling up. Analyst Ehud Gelblum says its phones are aging, growth in the global smartphone market is slowing and shipments are likely to decline ahead of the launch of phones with the radical new BlackBerry 10 software.
THE BACKDROP: RIM has been struggling to adapt to a world where Apple Inc.'s iPhone sets the standard for how a smartphone should work.