On to Palm, first thing this week is Palm plans to announce their Q3FY07 Financial Results Conference Call details on March 22nd. It seems as if they are trying to get us excited about something however I have the â€œIâ€™ll believe it when I see itâ€ attitude and will not get excited about anything until I hear what they have to say. It appears right now Wall Street is in total agreement with me as Palm’s stock didnâ€™t move much with the announcement.
However Palms stock did move when they announced the procurement of former Apple engineer Paul Mercer. With the announcement the stock upped roughly 15 cents per share. I know that does not really seem like much however for Palm that is pretty impressive.
Also this week Palm and Iusacell introduced the Treo 700p in Mexico. This news actually decreased the price about 30 cents per share. Not too sure why a release of this magnitude could possibly affect the price in this way however I do believe many in New York have the attitude that this smartphone has been really overdone and is really overrated.
Also this week Palm and Claro launched the Treo 680 in Chile. Slight increase in the price but this news broke after the announcement from Banc of America that it maintains their â€œbuyâ€ rating on Palm. I believe that the increase after the Treo 680 announcement is actually misleading and is probably due to the increase wave after the â€œbuyâ€ announcement from BoA.
Oh Motorola. In reference to last weeks Icahn drama, reports fromm Bloomberg.com are stating that Icahn has started his proxy fight in order to win Motorola board seat. Icahn is now asking share holders to vote him to the board. Weâ€™ll continue to keep an eye on this one and will report any news or deaths that come from this. News of this Proxy war has started Motorola on the ever so familiar downward spiral for this week.
Other news that has dropped the price: Motorola invests in an Israel-based semiconductor startup Amimon and a wireless HDTV developer Amimon. Stock plummets almost quarter of a dollar with the news. Word of advice â€“ donâ€™t invest in other companies when yours isnâ€™t doing well either. It makes them look bad and you look worse.
Another 10 cent drop comes yesterday when Motorola and Vonage introduced the VoIP ready wireless router. Poor Vonage, who is doing quite well for themselves, get dragged into this one. Weâ€™ll see how they bounce back. Seems the market isnâ€™t quite ready to give Motorola the props for riding the coattails of another company. Did you expect anything else?
Okay â€“ well thatâ€™s all I have for this week. Has been a very slow week, hopefully weâ€™ll have some more exciting news for you folks next time.
Until then, take care!