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maemo.org - Talk (https://talk.maemo.org/index.php)
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-   -   Palm shares rise on short covering, Nokia talk (https://talk.maemo.org/showthread.php?t=31997)

allnameswereout 2009-09-23 16:01
Palm shares rise on short covering, Nokia talk
 
Quote:
NEW YORK (Reuters) - Palm Inc (PALM.O) shares jumped to their highest level in nearly two years on Tuesday, fueled by short covering and renewed speculation that the smartphone maker may be a takeover target.

Shares of Palm jumped to a session high of $17.50 on the Nasdaq, a gain of nearly 10 percent, helped by market talk that bigger rival Nokia (NOK1V.HE) was interested in Palm.

Representatives for both Nokia and Palm declined to comment on the rumors.

The merger chatter, along with anticipation of a successful secondary stock offering, may have sparked short sellers to cover positions, driving the stock higher, analysts said.

[...] source, read further & more sources via Google News
(Emphasis mine.)

Just a rumor. No comment.

quipper8 2009-09-23 16:10
Re: Palm shares rise on short covering, Nokia talk
 
wow, combined with the DT buying sprint rumors, craziness.

Who knows, maybe Nokia is going to get serious about the US market

Texrat 2009-09-23 16:16
Re: Palm shares rise on short covering, Nokia talk
 
I saw a job listing on Nokia career page yesterday for merger/acquisition analyst. :D

livefreeordie 2009-09-23 16:16
Re: Palm shares rise on short covering, Nokia talk
 
I saw this news too, and think it's ridiculous. AFAIK it started out as a rumor that Nokia was interested in WebOS, which is even more ridiculous due to Maemo.

The 10% gain, if due to the WebOS rumor, only proves that investors and analysts are more gullible than you'd think.

Texrat 2009-09-23 16:21
Re: Palm shares rise on short covering, Nokia talk
 
I was wondering about the possibility when some US Nokia execs/managers left and went over to Palm, but I still don't see a benefit for Nokia...

livefreeordie 2009-09-23 16:31
Re: Palm shares rise on short covering, Nokia talk
 
Quote:
Originally Posted by Texrat (Post 332237)
I was wondering about the possibility when some US Nokia execs/managers left and went over to Palm, but I still don't see a benefit for Nokia...
The only benefit I can come up with is exclusivity contracts Palm may have, but if Nokia wanted to bend over to the carriers, surely they could do it right now and without buying Palm?

javispedro 2009-09-23 16:52
Re: Palm shares rise on short covering, Nokia talk
 
Ah, within my lifetime I've seen nearly a billion of "Palm bought by X" rumors: Microsoft, Apple, Google, carriers, HTC, Nintendo, MomCorp, etc.

Only that this time X is Nokia. Nothing to worry about.

Rauha 2009-09-23 16:58
Re: Palm shares rise on short covering, Nokia talk
 
Quote:
Originally Posted by javispedro (Post 332253)
Ah, within my lifetime I've seen nearly a billion of "Palm bought by X" rumors: Microsoft, Apple, Google, carriers, HTC, Nintendo, MomCorp, etc.

Only that this time X is Nokia. Nothing to worry about.
Mostly agree.

Only one thing makes me take this rumour semi-seriously. Tarmo Virki was one of the journalist responsible for the original Reuters article that got the rumour mill running. That guy really knows Nokia, (IMHO) better than any other mainstream-media reporter.


EDIT: Palm is pumping 20 million new stocks into market. http://www.intomobile.com/2009/09/23...need-cash.html. I doubt they would be doing that if there were serious Nokia buy out negotiations going on.

allnameswereout 2009-09-23 17:40
Re: Palm shares rise on short covering, Nokia talk
 
Quote:
Originally Posted by Texrat (Post 332237)
I was wondering about the possibility when some US Nokia execs/managers left and went over to Palm, but I still don't see a benefit for Nokia...
Palm has an extensive patent porfolio.

Texrat 2009-09-23 17:42
Re: Palm shares rise on short covering, Nokia talk
 
Quote:
Originally Posted by allnameswereout (Post 332288)
Palm has an extensive patent porfolio.
Good point, but how close are the useful ones to expiration? I sure don't know.


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