“Palm Inc. has reportedly hired an investment banker to help the wireless-device maker explore a potential sale,” Jeffry Bartash reports for MarketWatch.
Bartash reports, “The Wall Street Journal reported Monday that Palm is working with Morgan Stanley to evaluate its options, citing ‘people familiar with the matter.’ Possibilities could include a sale to Finnish mobile giant Nokia Corp. or a private-equity firm.”
“On Monday… Palm stock fell more than 6% in recent trades, partly because of a brokerage downgrade. J.P. Morgan cut its rating to underweight from neutral, saying Palm’s product line has grown stale while the competition is intensifying,” Bartash reports.
Bartash reports, “Nokia, Motorola and BlackBerry maker Research In Motion Ltd. have all unleashed sharp-looking new smartphones that have blunted Palm’s historic edge in device design. And soon, technology bellwether Apple Inc. will enter the smartphone market with the much heralded iPhone, which is based on snazzy touchscreen design.”
Full article here.
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