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.
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.
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