Research In Motion has dismissed weekend rumours it’s planning a corporate break-up, but that’s not helping their stock.

Sources close to RIM told the Globe And Mail reports of its break-up, into two companies, with a possible sale to Facebook or Amazon, is nothing more than a “silly fantasy”.

Over the weekend, The Sunday Times reported the Blackberry-maker is considering splitting its business in two, separating its struggling handset manufacturing division from its messaging network.

The British newspaper did not cite sources, but says RIM, which last month said it had hired JP Morgan and RBC Capital to look at its strategic options, could break off its handset division into a separate listed company or sell it.

The article goes on to state that potential buyers would include Amazon and Facebook, adding that RIM’s messaging network, the popular BBM, could also be sold or opened up to rivals such as Apple and Google to generate income.

An alternative option would be to keep the company together but sell a stake to a larger technology firm such as Microsoft, the Times said.

Monday morning, a RIM spokesperson told the Globe And Mail that the company remains committed to maximizing shareholder value with a turnaround strategy.

Meanwhile, RIM’s stock has been cut to “underweight, or “sell” by Morgan Stanley. Reports say an analyst with the company told clients, in a letter, that he puts the company’s earnings per share forecast now at about $7.

The BlackBerry-maker’s share prices were down more than 3% in early morning trading.

To see what it is trading at now click here for Toronto Stock Exchange numbers.

The Waterloo-based tech giant is set to report earnings on Thursday, a loss is expected, with further details of its restructuring including specific numbers for recent job cuts.