Palm Slapped on Weak Guidance

Updated from June 29

Palm got slapped Friday after the Treo smartphone maker predicted disappointing first-quarter results.

Earnings for the current period will likely be at least 3 cents a share less than what analysts expected, the company said Thursday. Revenue is likely to fall shy of consensus estimates by about $30 million, Palm said.

The shortfall is due to "transition" issues, said company CEO Ed Colligan in an interview with TheStreet.com. The company will experience a sales gap in Europe later this month due to new environmental regulations there, he said. ...