Friday, March 19, 2010

Trends beget news?

PALM Daily Trend Model

Palm plunges on woeful sales forecast

WASHINGTON (MarketWatch) -- Palm Inc.'s shares fell sharply in premarket trading Friday after the company posted dramatically smaller losses but offered a lower-than-expected revenue forecast and said smartphones sales to consumers fell short of expectations.

The wireless device maker's stock plunged as much as 18% in premarket trading.

Inventory of Palm's (PALM 4.62, -1.03, -18.23%)  latest smartphones has built up at wireless carriers, and the company expects future sales to be weak until it can clear out the channels.

No comments: