Re: DIA Dow Jones 30 (ETF)
Publicado: Jue Mar 18, 2010 8:07 pm
AFTER HOURS ACTION: PALM
In extended trade, Palm shares [PALM 5.64 0.27 (+5.03%) ] fell as much as 10%, after the handheld device maker provided a very disappointing outlook.
Palm executives told analysts on a conference call that fourth-quarter revenue will be less than $150 million, or about half the revenue posted for the fiscal third quarter ended Feb. 26. Analysts had been expecting revenue of about $306 million, according to Thomson Reuters
What’s the trade?
I think there’s a good chance that the stock goes even lower, speculates Guy Adami. I suspect the play is to short Palm and ride it down to $1.
Even if you’re bullish I would not consider buying until you see a huge volume spike in this name, counsels Joe Terranova.
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In extended trade, Palm shares [PALM 5.64 0.27 (+5.03%) ] fell as much as 10%, after the handheld device maker provided a very disappointing outlook.
Palm executives told analysts on a conference call that fourth-quarter revenue will be less than $150 million, or about half the revenue posted for the fiscal third quarter ended Feb. 26. Analysts had been expecting revenue of about $306 million, according to Thomson Reuters
What’s the trade?
I think there’s a good chance that the stock goes even lower, speculates Guy Adami. I suspect the play is to short Palm and ride it down to $1.
Even if you’re bullish I would not consider buying until you see a huge volume spike in this name, counsels Joe Terranova.
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