Handspring, Research in Motion Say Too Little for Investors

Handspring (HAND Quote) and Research in Motion (RIMM Quote) both had a chance to help themselves Wednesday, but neither could muster the right words.

Both were battered Wednesday in the wake of Palm's (PALM Quote) lousy outlook Tuesday. Palm talked of weak demand this quarter, which investors took to mean that competitors Handspring and RIM also could face tough times. Handspring was off $4.44, or 27%, to $11.75, while RIM tumbled $4.51, or 18%, to $20.17.

Handspring came out and reiterated its fiscal third-quarter guidance of $117 million to $123 million in revenue and a loss of 6 cents a share. The third quarter ends this month. For fiscal 2001, which ends in June, the company expects revenue of $432 million to $445 million and a loss of 26 cents to 28 cents. Handspring is expected to report its numbers for this quarter on April 12. ...