The Night Watch: Handheld Makers Dive on Palm Warning
Investors were selling shares of handheld computer makers after the close Thursday following news that
Palm was down 17% to $1.83 in Instinet trading after the bell, and the other well-known names in the sector were also suffering. Handspring (HAND) was down 6.9% to $1.88, and Research in Motion (RIMM) was off 5.5% to $13.85.
Overall, volume was again on the light side. In the first two hours of extra trading, around 2 million shares changed hands among the 20 most active stocks on the Instinet platform.Elsewhere among the most actives, Ericsson (ERICY) was up 0.7%. Microsoft (MSFT) was inching up 0.1%, and Intel (INTC) was gaining 0.5%. Cisco (CSCO) and Oracle (ORCL) were each adding 0.2%. Starbucks (SBUX) was gaining 2.5% to $24.17 after the company said same-store sales rose 10% in May. One of the big losers of the session was KPNQwest (KQIPQ), the European network operator that last week filed for bankruptcy. The stock was plunging 3 cents, or 12%, to 22 cents after the bell. In regular trading, KPNQwest skyrocketed 79% to 25 cents on speculation that AT&T (T) might be interested in acquiring the company's assets.
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