MidnightTrader Analyst Play: PALM
PALM
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PowerRating) finished up 1.3% at 5.90 today, overcoming an early decline seen after the stock was downgraded to Sell from Neutral at UBS this morning, according to MarketWatch.
The broker reportedly said that a late June launch of Apple’s
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PowerRating) 3G iPhone and a July launch of Research in Motion’s
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PowerRating) 3G BlackBerry will impact sentiment toward PALM. Palm’s Linux product will be launched in the first half of 2009 at the earliest, UBS added, according to the report.
In the analyst ratings changes we’ve tracked for the last year for this stock, including today, 5 narrowing moves in the following regular session have been recorded and 2 wider moves are in the books.
5/15/08 Pre-Market: lower ask; 5/15/08 Regular Session: +1.3% at 5.90 – UBS cuts to Sell.
2/4/08 Pre-Market: firmer to 6.69; 2/4/08 Regular Session: +6.2% to 6.39 – JPMorgan raises to Overweight.
12/10/07 Pre-Market: +3%; 12/10/07 Regular Session: -2.4% at 5.59 – UBS cut to Sell; stock did get favorable Barron’s coverage on this day as well.
10/18/07 Pre-Market: +2.7%; 10/18/07 Regular Session +7.1% at 17.02 – Merrill Lynch raised to Buy.
9/14/07 Pre-Market: firmer; 9/14/07 Regular Session: +2.9% at 15.34 – Morgan Keegan raised rating to Outperform.
9/10/07 Pre-Market: top ask near 15.29 9/10/07 Regular Session: -3.4% at 14.85 – Raised to Underweight at Lehman Bros.
4/20/07 Pre-Market: +1.8%; 4/20/07 Regular Session +1% at 17.56 – Lehman Bros. raised to Equalweight.
Brooks McFeely is widely regarded as the leading expert on extended-hours trading. He is a Managing Partner for Brochet Capital Partners, LP and the founder of Midnight Trader, Inc. (www.midnighttrader.com), the leading provider of pre-market and after-hours trading analysis and news to retail and institutional investors.