Wednesday, August 02, 2006

Renewed Takeover Chatter on Palm (PALM) After Analyst Note

We're hearing renewed takeover chatter on Palm (Nasdaq: PALM) today, which is likely related to comments from Merrill Lynch analyst Vivek Arya who started coverage on the stock today with a Buy rating.

In the report Arya said, "In our view, Palm could be an attractive option for PC makers like Dell (Nasdaq: DELL) and HP (NYSE: HPQ) as a way to enter the faster-growing, premium-priced smartphone space."

Palm has long-been a rumored takeover target, and recent rumors even had the company linking up with rival Research In Motion (Nasdaq: RIMM).

Shares of Palm are up 0.69% to $14.60 in mid-day action Wednesday.


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