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.
Thank you for reading this Techdirt post. With so many things competing for everyone’s attention these days, we really appreciate you giving us your time. We work hard every day to put quality content out there for our community.
Techdirt is one of the few remaining truly independent media outlets. We do not have a giant corporation behind us, and we rely heavily on our community to support us, in an age when advertisers are increasingly uninterested in sponsoring small, independent sites — especially a site like ours that is unwilling to pull punches in its reporting and analysis.
While other websites have resorted to paywalls, registration requirements, and increasingly annoying/intrusive advertising, we have always kept Techdirt open and available to anyone. But in order to continue doing so, we need your support. We offer a variety of ways for our readers to support us, from direct donations to special subscriptions and cool merchandise — and every little bit helps. Thank you.
–The Techdirt Team
Reader Comments
Subscribe: RSS
View by: Time | Thread
Almighty dollar
[ reply to this | link to this | view in chronology ]
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.
[ reply to this | link to this | view in chronology ]
Add Your Comment
Add A Reply