Handheld computer maker Palm (PALM) was up 9% in preopen Island trading after climbing 17% in Monday's session.

The stock had fallen 28% Friday to a 52-week low after a profit warning, but was buoyed Monday as

UBS Warburg

raised its rating on the stock to strong buy from hold.

In preopen trading this morning, rival

Handspring

(HAND)

was also on the rise, up 3.6%.