Palm

(PALM)

was rocketing 11.4% to the heady level of $3.80 in Instinet action before the opening bell on Thursday.

The company said after the close Wednesday that it expects to report second-quarter revenue of $250 million to $280 million, with a loss, excluding items, of about 7 cents a share.

Analysts are looking for a loss of 7 cents with a top line of $232.1 million.