Palm Buyer Doubts Concern Analysts
Tech Trader Daily has a round up piece out this morning on the latest analyst scuttlebutt on Palm Inc. Concerns that the company may not find a buyer have so far sent shares down more than 10% in trading today.
TTD's article sums up the comments from three long time Palm analysts, all of whom are rather pessimistic on the stock. UBS analyst Maynard Um thinks last Friday's SVP departure and executive bonuses are a sign that a deal is not pending and he reckons that interest in the firm may be tepid. Morgan Keegan analyst Tavis McCourt reflects similar sentiments, but goes even further stating "Palm's ability to execute a turnaround internally remains difficult."
C.L. King analyst Lawrence Harris writes in a research note to clients that Radio Shack may be phasing out the sale of Palm devices. DigitalDaily has also jumped on this story, citing their empty Palm online store and a bunch of empty store shelves as evidence. However, a 'Shack spokesperson 'splains that they expect their relationship with Palm to continue.