Massive Short Interest Helps Keep Palm Steady After Earnings (PALM)

Telecom & Wireless

Published: March 20, 2008 3:42 pm

Last Updated: April 6, 2020 6:10 pm

Palm, Inc. (NASDAQ: PALM) just posted a loss that of course missed analyst expectations. The loss of -$31.5 million came in at -$0.30 EPS after items and -$0.16 pro-forma on a near-25% drop in revenues to $312.1 million, while First Call estimates were -$0.14 EPS on $315.7 million in revenues.

Its smart phone sales were $275.4 million, led by the new Palm Centro. We did not get guidance. The good news is that things are just falling off the bus much worse than expected. We also alerted out "Stocks Under $10" weekly subscriber letter about that massive short interest that would keep shares propped up as long as the news wasn’t implosion-oriented.

Palm closed up over 3% at $4.72. Shares had been down almost 2% earlier after the earnings report but are now flat in after-hours.

Jon C. Ogg
March 20, 2008

It’s Your Money, Your Future—Own It (sponsor)

Are you ahead, or behind on retirement? For families with more than $500,000 saved for retirement, finding a financial advisor who puts your interest first can be the difference, and today it’s easier than ever. SmartAsset’s free tool matches you with up to three fiduciary financial advisors who serve your area in minutes. Each advisor has been carefully vetted and must act in your best interests. Start your search now.

If you’ve saved and built a substantial nest egg for you and your family, don’t delay; get started right here and help your retirement dreams become a retirement reality.