S&P outlook on Palm turns sour 50
The bad news for Palm keeps piling up, especially if you’re concerned about the whole financials thing. As noted by the Wall Street Journal, Standard & Poor’s Ratings Services has reversed their outlook on Palm, flipping from cautiously optimistic to downright negative. S&P’s ratings are a judgment on a corporation’s credit potential, and the occasionally issue outlooks statements on how they think that company may fair in coming months and years.
S&P’s current judgment of Palm is a CCC+ rating, the top tier of the low highly speculative territory. It was back in October that S&P upgraded Palm to a CCC+ rating and issued their positive outlook. But given recent revelations about Palm’s lower than expected sales figures, S&P’s analysts saw fit to retract their positive outlook. The outlook reversal had little effect on Palm’s stock performance for the day - all the damage was dealt earlier in the week.
Thanks to amateurhack for the tip!