Palm Rises as it Beats Estimates
Palm (PALM) was up 19.7% in preopen Island trading after the No. 1 handheld computer maker posted a fourth quarter loss of 16 cents a share on revenue of $165 million, beating analysts' lowered expectations. In a conference call, the company said it was cautiously optimistic about the first half of 2002.
The company expects to post a loss of between $60 million and $80 million in the first quarter, and earnings of $5 million to $20 million in the second quarter, on revenue of between $420 million and $440 million.
Rival
Handspring
(HAND)
benefited from the comments, rising 12.7% preopen.
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