Palm Rises After Reportedly Hiring Big Guns (PALM)

Posted in pre-market 
April 12th, 2010

Palm Inc. (NASDAQ: PALM) is trading higher again this morning, and you have heard why… more takeover chatter developments.  The reports over the weekend put Palm having hired Goldman Sachs an Qatalyst to pursue a sale of the company.

UPDATE 9:33 AM EST: Shares are up 8.7% at $5.61 on 10.3 million shares.

UPDATE 8:32 AM EST shares are up 8.7% at $5.61 on 2.5 million shares.

Shares closed at $5.15 Friday and the last indication as of 7:56 AM EST is $5.66 on almost 600,000 shares.  This is the highest share price since its most recent slide started and lends only more M&A chatter to come.

Here are the most recent closing bell prices with volume:

  • 88,646,700.. $5.16
  • 46,482,000.. $4.65
  • 83,317,500.. $4.62
  • 8,603,400… $3.85

JON OGG

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