Tuesday, December 2, 2008

Palm - That's a Doozy

Handheld has been Palm was among the companies pulling the chute for the November quarter last night. Revenue, most recently estimated to be about $330 million, came in below $200 million. That's one of the biggest misses I can remember.

Palm is in the middle of the perfect storm. Apple is killing it and RIMM is resurgent, even as every non-smart phone is catching up in terms of functionality. They're in a huge air pocket in their new product line up and the consumer is obviously suffering. It's tough to have much hope.

Futures are up big and oil is down again. Auto makers report monthly sales today which shouldn't be pretty but shouldn't be a catalyst either.

Clearly yesterday was a miserable day for stocks. Particularly scary was the action in the large financials. Down is bad.

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