Palm Stock Up 4% On CFO's Bad Back
from the easily-excited dept
Palm's CFO was due to speak at an investment bank conference in Boston Wednesday, but backed out yesterday. Palm's stock jumped 4%, with many observers crediting investors' belief that the cancellation was due to an impending buyout of the company, as has been rumored (
with little basis) for some time. Palm, however, went to great lengths
to dispel that belief by issuing a statement saying the CFO had thrown his back out, and his doctor told him not to travel. As a WSJ blog points out, the jump in the stock and Palm's statement highlights
the M&A frenzy that's gripped the market as a possibly unhealthy
level of optimism about deals grips the market. The bottom line, at least for Palm, is that nobody's yet bought it -- making it look even more like the earlier rumors were
driven by an ulterior motive.
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Almighty dollar
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Can't trust the news
The sooner that reputable news outlets pull away from blogs, the more reliable the news will become. I can't trust anything in the news anymore than speculation. In fact, live-person triplesourcing is so valuable to me, I would pay additional for that.
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