Stock Watch: Palm Has Strong Third Quarter

Palm, Inc. rose 13/16 to 55 5/8 in the first minutes of trading today after the newly public handheld computer maker reported earnings of 3 cents a share in the third quarter ended February 25th. Sales rose to $272.3 million from $125.9 million. The results beat analysts’ forecasts of one cent a share.

Palm went public earlier this month in a $1.17 billion spinoff from 3Com Corp. After surging above $165 on the first day of trading, the shares have since fallen back.

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