Palm's stock price is still DOUBLE what it was ~16 months ago. ;-)
On Fri, Mar 19, 2010 at 8:56 PM, Don Ferguson <[email protected]> wrote: > Yikes? > > > > Craig? > > > > Cheers, > > Don > > > > From: [email protected] [mailto:[email protected]] On Behalf Of > Troublemaker > Sent: Friday, March 19, 2010 5:34 PM > To: [email protected] > Subject: [Treo] Article: Palm's Survival Questioned > > > > > > http://snipurl.com/uxzpy > > Palm's survival questioned > > On Friday March 19, 2010, 11:01 am EDT > > NEW YORK (Reuters) - Shares of mobile phone maker Palm tumbled on Friday on > questions over its ability to survive in a tough market dominated by Apple, > Google and Research in Motion. > > Its shares fell 19 percent in early Nasdaq trading to their lowest level in > more than a year after the company warned on Thursday that revenue for the > current quarter would be far below Wall Street's expectations, amid tepid > demand for its smartphones. > > In the third quarter, the maker of the Pre and Pixi shipped 960,000 units to > carriers, but shoppers only purchased 408,000. It sees fourth-quarter > revenue of less than $150 million, one-half of the $306 million expected by > analysts surveyed by Thomson Reuters I/B/E/S. > > As a result, several analysts cut their price targets for Palm shares, and > Kaufman Bros analyst Shaw Wu cut his rating on the shares to "sell" from > "hold". > > "While we believe Palm has some value with its webOS (phone operating > software platform)...we are unsure of the company's prospects as an ongoing > concern," he said in a client note. > > Four analysts tracked by Thomson One data now rank the stock at "sell" or > "underperform", and 9 others rate the stock at "hold." > > Canaccord Adams analyst Peter Misek, who has a "sell" rating, said Palm's > troubles will likely accelerate as its partners question the company's > solvency and withdraw their support. > > "With what appears to be roughly 12 months of cash on hand, an accelerating > burn rate, a complete lack of earnings visibility, and substantial debt and > preferred equity, we no longer see any value in the company's common > equity," he said in a note. > > Palm has been the subject of chatter that it might be an acquisition target, > with Microsoft Corp, Nokia and Dell Inc often mentioned as potential > suitors. On a conference call with analysts, Palm chief executive Jon > Rubinstein downplayed such talk. > > Palm shares fell to $4.56 on Nasdaq, where it was the second biggest > percentage loser so far on Friday, and also the second most active stock. > > (Reporting by Franklin Paul) > > Copyright C 2010 Reuters Limited. All rights reserved. > > > > > > [Non-text portions of this message have been removed] > > > > ------------------------------------ > > Yahoo! Groups Links > > > >
