Loser of the week (as if there could be a bigger one than RIM at the moment) is Palm. Rumors are running rampant of Dell, HP or Nokia buying out the Treo makers. In all honestly, in my opinion â€“ that would be the best thing for these poor saps. Instead of wasting money building a facility in China, as reported by Business Week on March 6th, they should be focusing on fixing things within the company on this side of the world.
Trading Markets reported on Tuesday that Palm, Incorporated is very close to moving out of trading range. That spells complete disaster for these poor guys. There stock has however increased almost a dollar in the past two day with the rumors of a buy out. Who do you think is creating these rumors? You can bet your bottom that if I were head of Palm, and noticed an increase due to buy out rumors, Iâ€™d be calling every market analyst anonymously to inform them of the potential â€œbuy out.â€
Nokia is the big winner this past week. They have been real busy with all sorts of oversea and North American operations. Their stock has been on a steady increase since Tuesday with news of them reorganizing North American operations, launching the 6300 in India, gaining a GSM/EDGE network deal with Sloveniaâ€™s Tusmobil and announcing the plans to open a customer care centers in Bangladesh. The stock has increased roughly a dollar per share; however thatâ€™s big news from Nokia who has been sitting idle at around $21 per share since the DOW plummet from last week.
Motorola is still in my line of site as well this week. These idiots are seriously trying to lose money. Carl Icahn has planned to buy $2 Billion dollars worth of Motorola stock â€“ which would single handedly raise hopes and dreams all throughout Motorolaâ€™s crazy world â€“ but get this, Motorola is actively trying to prevent this from happening. Motorola is urging shareholders to not support Icahn, stating that the SEC is now reviewing its proxy due to this huge buy or potential buy. I say who cares?
If you donâ€™t have anything to hide, let them review you. However the real issue seems to be Motorola truly opposes Carl Icahnâ€™s bid for a board seat. See, there is always something. Sure â€“ Iâ€™ll throw $2 Billion dollars of my money into your stock; however I want a seat on the board, a bowl filled with 300 pealed grapes, a yorkie-terrier named Billy and a French woman who speaks Spanish to drive me around. Wow Mr. Carl, I really think youâ€™re asking for a bit much â€“ donâ€™t you?
Anyway with all of the drama in the Motorola world, there stock has dropped a quarter dollar per share. Until yesterday that is when Tut Systemsâ€™ holders okayed a merger with Motorola. We saw the stock jump nearly 50 cents per share!!! Go get ‘em guys!
Okay well, I think thatâ€™s all I have for the week. I will be back next week at my regularly scheduled Friday time slot. Now I must go and enjoy some hockey.
Take care all.