Palm Soars 35% on Smartphone Debut

Shares of troubled smartphone manufacturer Palm(PALM Quote) surged Thursday as investors warmed to the launch of the firm's new touch-screen phone and its long-awaited webOS operating system.

Buoyed by the launch at the Consumer Electronics Show (CES), shares of the struggling tech giant climbed 34.9%, or $1.15, to reach $4.45 at the close of trading.

Palm will now be hoping that the Pre Phone and the new operating system will help turn the company's fortunes around after a difficult few months marked by slowing sales and a plunging share price. ...