Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

J.P. Morgan Cuts Palm Rating


J.P. Morgan downgraded Palm Inc. (PALM)to market perform from long-term buy.

Analyst Paul Coster says Palm's decision to end its pact to acquire Extended Systems is a blow to Palm's stated strategy for selling into enterprise. The preannouncement shortfall is a result of the delayed shipment of Palm's M500 series and a production ramp up impeded by engineering problems leading to inventory stalling in the channel -- particularly in international markets. Coster is confident Palm will get a credit line from banks to navigate through any cash problems.

He dropped his $0.03 fiscal 2001 (May) EPS estimate to $0.10 loss, and cut the $0.10 fiscal 2002 EPS to a $0.07 loss. He also cut the 12-month target to $6.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus