Palm Slumps as Forecast Trails Analysts’ Estimates

“Palm Inc., creator of the Pre smartphone, fell the most in more than 15 months in Nasdaq trading after forecasting sales this quarter that were less than half of analysts’ estimates. Revenue in the period ending in May will be less than USD 150 million, Chief Financial Officer Doug Jeffries said yesterday on Palm’s third-quarter conference call, compared with the USD 300 million average of estimates compiled by Bloomberg. The company also reported its 11th straight quarterly loss.”


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