Home » Most Recent Stories

PALM EARNINGS DISASTROUS

3 March 2009 by Cullen Roche 0 Comments

In a clear sign that the U.S. consumer is falling off a cliff, PALM expects Q3 results that are 45% below forecasts.   The company now expects revenues of 85MM-90MM vs estimates of 163.22MM.  These are remarkably bad numbers and a clear sign that tech is falling into the same abyss the rest of the economy currently resides in.   I know PALM is not a terribly important company in the grand scheme of things, but a 45% miss means the problems in other segments of the economy are likely worse than expected as well.  Probably not as bad as PALM, but bad….

Google also announced: ” We are not immune to this. Ultimately the pain felt by companies worldwide will sometime translate to our world.”

Not a good sign for tomorrow’s open.  Futures have ticked down over 1%.

Cullen Roche

Cullen Roche

Bio - Coming Soon.

More Posts - Website

Follow Me:
TwitterYouTube

Disclosures - Unless otherwise noted, authors have no positions in any securities mentioned and readers should never consider this to be investment advice. Always consult your financial advisor before acting on any ideas. Comments Guideline - Readers who denigrate authors or other readers will be banned without warning. This site does not tolerate any sort of reader abuse. The goal of this site is to create an environment that is conducive to learning and better understanding of the monetary system and the investment world. We expect readers to behave maturely and responsibly. We welcome and encourage intense and intelligent discourse, but the site adheres to a strict 1 strike policy. While it is your right to speak freely, it is not your right to behave childishly. Above all else, please enjoy the site. It is intended to be used as an educational tool and we hope the intelligent and mature debate will further that purpose. We hope readers will make an effort to respect that goal. Comments with excessive linking or foul language will be moderated before posting.