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Palm’s Fun-Filled Week Ends (a recap)

March 23, 2007 in Wireless Industry News

Talk about a rough week for Palm. Earlier, rumormongers speculated about a possible acquisition of Palm, Inc. causing shares of the company to skyrocket like no other. Then on Wednesday, Motorola announced some very bad news, and Palm shares took a dip in the pond.

Palm's Roller Coaster Ride from Hell Week

Motorola was one of the potential companies reportedly looking to acquire Palm, so the news that the #2 phone giant would miss sales targets by a cool billion certainly didn’t help.

THEN, on Thursday, Palm released its own numbers, which were pretty horrendous themselves. Earnings fell 61%, Treo selling prices declined, and market share for the Treo dropped – despite an increase in Treo sales. Crackberry wins again.

But the real news was no news. Everyone was looking for something, ANYTHING, related to the possible acquisition of the company, and unfortunately Palm didn’t dole out any news.

Several analysts proceeded to downgrade the stock, mainly from “Buy” to “Neutral”, which is kind of like saying they don’t know squat about what’s going to happen. The stock fell $1.71 (almost 9%).

Finally, Palm shares rebounded slightly on Friday, gaining almost 2% in midday trading.

What will happen next week to this troubled company?

***

Ashton Wilcox
3/23/2007
2:05 pm

crackberry wins again…did u see they even have a http://www.crackberry.com site now for all the blackberry abusers out there?? its becoming a crackberry world

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