Use access key #2 to skip to page content.

IBDvalueinvestin (99.66)

Changing my View on Palm Pre after Verizon signs on

Recs

2

May 28, 2009 – Comments (0) | RELATED TICKERS: PALM.DL2 , VZ , S

I thought Sprint was going to be the only carrier for the Pre so I was bearish on a one wonder carrier scenerio. But with Verizon now on board this thing just grew legs.

Verizon is the heavyweight carrier in the Northeast.

 

*Verizon to sell Palm Pre, new BlackBerry storm

*Palm shares rise 11 pct, Sprint shares fall 3 pct

NEW YORK, May 28 (Reuters) - Verizon Wireless plans to start selling Palm Inc's (PALM.O) Pre and a new version of the touchscreen BlackBerry Storm in about six months, the top executive for the venture of Verizon Communications Inc (VZ.N) and Vodafone Group Plc (VOD.L) said on Thursday.

Shares in Sprint Nextel Corp (S.N), the exclusive launch provider for Pre, fell 3 percent after the comments from Lowell McAdam during a webcast as the highly anticipated Pre is seen as key to helping Sprint stem subscriber losses.

Shares in Palm were up more than 11 percent after the announcement of a second U.S. carrier for the device on which Palm is depending heavily to revamp its own business and regain market share from rivals such as Apple Inc's (AAPL.O) iPhone.

"Over the next six months or so you will see devices like Palm Pre and a second generation Storm," on the Verizon Wireless networks McAdam said.

Verizon Wireless is the exclusive carrier for the first BlackBerry Storm launched by Research In Motion (RIM.TO) late last year. RIM had said it would develop a new Storm but had not announced a timeframe.

Sprint shares were down 18 cents at $4.89 in late morning trade on the New York Stock Exchange while Palm shares were up $1.15 at $11.68 on Nasdaq. (Reporting by Sinead Carew and Franklin Paul; Editing by Tim Dobbyn)

0 Comments – Post Your Own

Featured Broker Partners


Advertisement