Palm stock rallies 11% after Verizon iPhone not announced | webOS Nation
 
 

Palm stock rallies 11% after Verizon iPhone not announced 40

by Derek Kessler Thu, 28 Jan 2010 12:48 am EST

Palm Stock Rally

Everybody and their mother thought that a Verizon iPhone announcement was a sure thing for Wednesday’s Jobsnote. While the magical and revolutionary (Steve Jobs’ words, not ours) iPad was unveiled to an overhyped public, the iPhone for Big Red was nowhere to be seen, not even as one of Jobs’ famous “Oh, one more thing” moments.

Judging by the depressed price of Palm’s stock that morning, investors seemed to feel the same way, pushing Palm’s stock down nearly 3% by the time Jobs took the stage. But by the time the iPad presentation was wrapping up, investors had come to see that Apple’s relationship with AT&T was still strong. The iPad was going to be available with pre-paid data service from AT&T, and using 3G frequencies not available on T-Mobile, the only other GSM carrier in the United States. That alone was enough to trigger a rally in shares of PALM. The stock gained 11% from the day’s low to peak at $11.98 a share, though it eventually settled down at $11.70 by the close of the market. That was a 4.7% gain from the open and a rally of close to 8% from the low of $10.75. For what its worth, Apple’s stock was up a hair under 1% for the day, but it only trended into positive territory after pricing for the couldn’t-possibly-live-up-to-the-hype iPad was revealed.

With neither the iPad nor the iPhone coming to Verizon (or any other US carrier besides AT&T), Palm’s positioning on Verizon with the Pre Plus and Pixi Plus appears to be secure for now. That is, until the Nexus One arrives.

40 Comments

What would be very interesting is if Palm releases their new device on both Sprint and Verizon at the same time. I don't think the Nexus one is that big a deal at the moment. Perhaps on verizon it will be, but then it will be in direct competition with the Droid, which, all in all, has gotten better reviews.

This just in: Palm announces new ultra-light webOS convertible netbook/tablet with transflective LCD display. Will multitask, play Flash video, e-read with Amazon integration, and includes new desktop widgets. 3G/4G models to be subsidized by Sprint/Verizon.

...sigh. Maybe next year.

it also has sharks with fricken lasers!

Sharks with lasers riding unicorns.

I really would be intrigued to hear something on a webOS touchscreen netbook, though. It might be another chance to surge against Apple's arguable flop today.

Sharks with lasers riding unicorns with jetpacks!

niiiice! +1 for the movie reference!

I really don't see the Nexus One being a killer device. It just seems to be an updated version of the HTC Hero. The Nexus One has gotten so many compliants, and bad reviews from the google shopping experience, I really don't see why anyone on verizon would wait for Nexus One over a Moto Droid or the Pre Plus. I'm happy the iPhone for verizon didn't come out, but if it were to come out, they won't host an event for it like they did for the iPad. Apple doesn't host events for carriers for example in Canada or UK, they make press releases, and not really a party like today. I do guess the iPhone for Sprint/Verizon/T-Mobile will be announced randomly or during their iPhone refresh in June.
For now, we need the Pre to grow and be more stable. My pre goes offline instead of dropping calls, and Palm Tech support and Sprint can;t really help.

Google is having all sorts of problems with it's new mobile OS...I wouldn't be too concerned...

i would take the phone to a CORPORATE service center and have it the techs look at it. Most likely they can replace it under warranty. make sure you don't have any patches or themes when you do.

It looks like Palm has at least a 6 month window of opportunity now that there is no VZW iPhone. It would help if VZW did some Pre/Pix + TV ads now! Also I know the iPad is not a smartphone, but I couldn't help but notice how it didn't multitask and the UI looks dated. WebOS UI still is king!

I'm thinking all is well in the Ruby Kingdom for the moment, and I for one am grateful to be a citizen. We had a great stride ourselves made by Webosinternals with the auto update patch technology, and with 1.4 coming inevitably soon, things will look even better. I know when I opened preware this morning and saw 64 package updates, was able to hit update all and watch 64 patches update themselves, I was a very happy camper. All things considered, even with the bugs and glitches in the OS, Palm has moved 10 times farther in 9 months than apple has in 3 and a half years. I have absolute confidence in what they will deliver in the coming 2-3 years... And if something is going to be "magical and revolutionary", it'll come out of the ruby kingdom. And it'll be better than a really big iphone that doesn't make phone calls.

man i love reading a good ol positive webos comment like this, aaaah the ruby kingdom.
(wait ruby kingdom... i don get it??)

i think its verizon

my theory is that he's referring to Rubinstein, ie Palm.

OMG, Sprint went up when it was announced the deal wasn't with them

http://www.google.com/finance?q=NYSE:S

And Goldman Sachs!

http://www.google.com/finance?q=NYSE%3AGS

And and and the entire stock market!
http://www.google.com/finance?q=INDEXDJX:.DJI

Amazing!

But nowhere near the kind of gains posted by Palm. ;)

Once WebOS has flash and gets updated, Palm needs to step up their advertising and start comparing itself to the iPhone outright and show that it can do many things the same and some things much better. It can game, it plays flash, it multitasks, open app environment, killer notification system, synergy, video with editing etc..

"synergy" is a kind of joke. at least as long, as it does not support, what you need. it is not limited to the couple of integrations. if you need another one, you are screwed, as only palm can add another one. that's not what I consider an open environment.

Agreed! Palm should also add overall GPU support so when those ads are out, they (apple or competitors) cant say anything about the GUI lag. ...although it has improved significantly since the first release back in June

I say don't compare with the ""phone. I work at Sprint and get tired of customers who see a touchscreen phone and ask if it's an ""phone. Or a customer sees the keys on the Pre and ask if it's a ""berry. What I want is for Palm to come back to it's former status. A while back when smartphones were more function than status symbols the only PDA/ smartphone name known then was the "Palm Pilot". I want people to see a phone, any phone and say is that a Pre? Is that a Palm? Hype can only last so long, but good functionality can last a lifetime. Come on Palm you can do it.

+1 time to take the gloves off and go for it.

I'm confused, isn't Ruby Kingdom Jon Rubinstein and not Verizon?

I agree on the fact that palm has a SECOND golden opportunity here. With the new google phone taking a huge dive...so much so that it made the news!!!, and with google as weak as they are now...and with Palm getting a second wind with joining the ruby kingdom (verizon, I really like that!) and improving as well as they are...They really REALLY need to take the cue and run some serious advertising. Folks...this is a EXTREMELY RARE opportunity that comes only once in a blue moon...the chance to step up and save face...

Im excited and worried all at once...

Google is 'weak?' How do you figure? So their new phone which is barely out of the prototype phase is having some growing pains but that is not enough justification to call the behemoth Google 'weak.'


But yes, without the VZW iPhone, this is a decent opportunity for Palm to get settled in at VZW.

Ruby Kingdom almost certainly refers to Palm (Ruby as in Jon Rubinstein, CEO), not Verizon! The context is pretty clear in the original quote.

I don't know why everybody is so pleased at the no Verizon announcement. I expect that to come at the June release of the latest version of the iPhone along with an OS update.

That it didn't happen yesterday gives Palm more time to be special on Verizon. And just gives Palm more time in general.

I find myself checking Palm's stock daily... Is that strange, or are there others doing the same thing? I get excited when Palm does well in the market even though I am not an investor.

Last I heard, about 85% of Palm is owned by about 5 big institutional investors - these are people who (I guess) in vest long term. A lot of the movements you see are speculators and day traders - I am sure. Those guys move on average of over $100 million in Palm stocks a day. They are on a joy ride!

I don't check the stock but I like the idea of the stock being low enough to buy so that I can make a killing later on.

But if you watch ANY stock everyday you're in for an emotional rollercoaster ride.

Ya know.. I don't give a shit about some fucking pad!! I eagerly await to see what Palm's next device will be.. End of story!

Being that the "idon't" was Verizon's main campaign theme in their ads, I can't imagine any one with a brain would have thought that Apple was going the announce the coming of their iclone to Verizon.

Lots of people without brains apparently :)

Actually, there have been a few analysts who have been speculating an iPhone at Verizon this year. But I share your sentiments though - I would not insult people. Verizon has had some biting ads against the iPhone as recently as December 2009. They called the iPhone that "arrogant device". A direct quote from one of their ads:

"Everybody and their mother thought that a Verizon iPhone announcement was a sure thing for Wednesday

Funny thing happened. Normally, on announcements of new products, AAPL drops like a rock. I thought the Jobspeak revealed far lesss than I thought they were going to announce, yet the stock went up.

I thought all these issues were possibly in play:
Iphone to VZ
New o/s for Iphone.
iPad to have new o/s and be more Mac app capable.
4G Ipad with Sprint servicing.
Ipad at VZ
New form factor for iPhone.

In total, Jobs pitch was incredibly anticlimatic IMO. Yes, its a nice looking product, but aside from being one of the few touch tablets with capacative screen, I was expecting a lot more bang from the device and a couple of the above rumors, or hints of things to come. Yet, aapl was up nearly a percent? Odd.

Derek - one more post like this and we will be friends :)

I think the big compromise with the iPad is the amount of memory; and the lack of multitasking which just seems weird.

So the iPad cost $500 for 16 GB of memory? That is what I call a luxury toy. And what is the biggest draw, browsing the web on a big screen? Now that's innovation? I guess the days of downloading videos are over!

Now if Apple gave us multitasking with 64 GB of storage at $500, I would pick one up. But my Palm Pre would still take center stage! But for the iPhone - it can't do Flash, no multitasking, and it's closed, "me don't want!"

Derek

Do you know whether Palm is working on making the Palm Pre compatible with LTE?

People that buy iPhone's are just mindless trend followers. Whatever Apple tells them; they just do it without a thought. So WHO CARES if the iPhone isn't going to be offered on any other carriers network. That will be Apple's downfall. So when Palm has WebOS phones on almost every single carrier; Apple will still have their stupid iPhone stuck on the worst US wireless network (AT&T). If Apple thinks this is a good idea, then let them do it. AT&T said last year that their network is so horrible because of the iPhone! So that alone should have made Apple stop selling the iPhone on AT&T's network, but it didn't.

So just sit back and let the iPhone rot on a horrible network; from a carrier that charges way too much for service. Apple will fall, because 1 iPhone, on 1 US Network; can't compete with Several WebOS phones; offered by everyone else.

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