Shares of Palm Inc. shot up about 16 percent Friday in the wake of the company's fourth-quarter earnings report.
Sunnyvale, Calif.-based mobile phone maker Palm (NASDAQ:PALM) closed the day at $16.22.
The company on Thursday reported a widened fourth quarter loss but nevertheless beat analyst estimates.
Palm had a loss of $105 million, or 78 cents a share, more than double the year-ago quarter's loss of $43.4 million, or 40 cents a share.
Sales of Palm's new Pre smartphone were not included in the latest earnings report.
article source: Puget Sound Business Journal (Seattle) - by Silicon Valley / San Jose Business Journal http://www.bizjournals.com/seattle/stories/2009/06/22/daily72.html
