Palm Stock Rallies on Strong Treo Sales
Palm's stock today rose 7% to close at 34.59 on an analyst upgrade. A Needham & Co. analyst said sales of the company's Treo smartphones appear to be outpacing previous expectations.
A report on CBS Marketwatch states that the company's backlog of firm orders for its signature smartphone stood at $214 million at the end of its last fiscal year to May. That equates to around 450,000 units.