Hewlett-Packard Buying Palm For $1.2 Billion
Apr 28, 2010 Company News, Mergers & Acquisition
Hewlett Packard (HPQ) is reportedly buying Palm (PALM) for $5.70 a share for a total of $1.2 billion. Palm closed the regular session at $4.64, indicating a 22% premium.
Tags: hewlett packard, hpq, merger, palm
Palm Rallies On Possible Sale of Company
Apr 12, 2010 Company News, Mergers & Acquisition, Stock to watch
Shares of smartphone maker Palm (PALM), which rallied 32% last week on rumors that the company might be a buyout candidate, extended those gains on Monday, climbing 17%, on a $0.88 rise to $6.04 in the stock .
The company has reportedly retained Goldman Sachs (GS) and Qatalyst Partners, to help it find a buyer for the company.
Tags: goldman sachs, palm
Are Palm Shares On The Rebound?
Apr 7, 2010 Stock to watch
Back on March 18, smartphone manufacturer Palm (PALM), reported its fiscal 2010 Q3 results. The results, which along with the news that the retailers carrying the company’s products had only sold 408,000 out of the 960,000 that were shipped in the third quarter, sent the stock into a tailspin. Palm shares went from $5.65 on March 17, to a close of $4 on March 18, a 29% decline.
Today, the shares, which have traded just under $4 since March 18, rallied strongly in a down market. The stock closed at $4.62, up $0.77, a twenty percent gain.
The shares are heavily shorted, with about 39% of the outstanding shares currently shorted. This actually provides impetus for the stock to move up, as those who are short the stock, will scramble to buy back those shares if they think the stock is going up. This serves to increase demand for the shares. So there is some likelihood we could see Palm shares climb back up to the $6 area soon.
More on this topic
(What's this?)
Trends beget news?
(All Allan, 3/19/10)
HP (HPQ) buys Palm (PALM) – what it means for the smartphone market
(Intelligent Speculator, 4/29/10)
Tags: palm
