“Palm Inc. had its first loss in more than three years as sales of its Treo e-mail phone lagged behind the BlackBerry and iPhone. The company’s shares fell 4.5 percent after this quarter’s forecast missed analysts’ estimates,” Ville Heiskanen reports for Bloomberg.
“The first-quarter loss was $841,000, or 1 cent a share, compared with a profit of $16.5 million, or 16 cents, a year earlier, Palm said today in a statement. Treo sales fell to 689,000 in the quarter, which ended Aug. 31, from 750,000 in the previous period,” Heiskanen reports.
“Palm shares dropped 72 cents to $15.28 in extended trading after the report. They had fallen 27 cents to $16 at 4 p.m. New York time on the Nasdaq Stock Market,” Heiskanen reports.
“Research In Motion, based in Waterloo, Ontario, probably shipped about 3.18 million BlackBerrys in its latest quarter, RBC Capital Markets analyst Mike Abramsky wrote in a note today. The company reports earnings on Oct. 4,” Heiskanen reports.
“The iPhone, which combines Cupertino, California-based Apple’s iPod music player with a Web-browsing mobile phone, sold 1 million units in the first 74 days after its June 29 debut,” Heiskanen reports.
Full article here.
Shorted PALM on Friday.
Came out about $12,000 ahead today! Twas sweet….
Now for Thursday – I’m long RIMM. Apple still has those suckers to deal with. At least I’ll make some bucks off it!
Trying to survive by wrapping their arms around Windows Mobile was bad enough, but their vision for Foleo really showed where they are headed. Foleo was the stupidest, most lame idea ever…it goes into the all time…a laptop-sized device that is not really a laptop that connects to your smartphone and makes you see it better and be better organized…ugh. I would be surprised if they only sold 10 of those things. Even Apple’s way underpowered Emate was better than that thing.