Shares of Palm Inc. (PALM-NASDAQ) saw some interesting movement today as word circulated that it had pulled out of a presentation at the J.P.Morgan Chase Technology Conference. This is the sort of event that can put the rumor mongers to work, and that’s the case today. This can create all sorts of buyout speculation, venture speculation and the like. Of course it can also be for a reason such as an earnings warning, or something truly as harmless as a real scheduling conflict with upper management.
Unfortunately with Palm, whatever the real reason is you have to remember the caveat of palm rumors: "Been there, done that." Anything is possible on a day where there are some light rumors out there of a Reserach-in-Motion (RIMM-NASDAQ) bidding interest.
Shares are up about 2% at $16.40 on the day. The 52-week trading range is $13.41 to $20.66. Feel free to guess away on this one, but remember
Jon C. Ogg
May 22, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
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