MobileRead Forums - View Single Post - Palm downgraded due to intensifying competition

Alexander Turcic · 05-23-2006, 11:30 AM

In case you are wondering why Palm is down today while the whole market is up - Palm was lowered to "underperform" from "peer perform" by Bear Stearns & Co. analyst Andrew Neff. The downgrade reflects "concerns about intensifying competition and potential for increasing pricing pressures," Neff wrote in a note, following Motorola Inc's announcement yesterday that the world's second-largest maker of mobile phones will release its Q phone and e-mail device on May 31.

Neff also cut his estimate for fiscal 2007 profit, after options expense, to 62 cents a share from 73 cents on the increased competition.

Disclaimer: I hold Palm stock in my portfolio.

05-23-2006, 11:30 AM	#1
Alexander Turcic Fully Converged Posts: 18,175 Karma: 14021202 Join Date: Oct 2002 Location: Switzerland Device: Too many to count here.	Palm downgraded due to intensifying competition In case you are wondering why Palm is down today while the whole market is up - Palm was lowered to "underperform" from "peer perform" by Bear Stearns & Co. analyst Andrew Neff. The downgrade reflects "concerns about intensifying competition and potential for increasing pricing pressures," Neff wrote in a note, following Motorola Inc's announcement yesterday that the world's second-largest maker of mobile phones will release its Q phone and e-mail device on May 31. Neff also cut his estimate for fiscal 2007 profit, after options expense, to 62 cents a share from 73 cents on the increased competition. Disclaimer: I hold Palm stock in my portfolio.