=DJ Palm Up -2: Palm OS To Power Canada Mobile Phones Soon
By Maxwell Murphy
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--Palm Inc. (PALM) shares rose Thursday after
interviews with a company executive in Toronto Wednesday were
published in Thursday editions of at least two Canadian newspapers.
Other makers of handheld computers were also on the uptick.
According to the published pieces, Michael Mace, Palm's chief
competitive officer, discussed Palm's future and its competitors. A
Palm spokeswoman couldn't immediately confirm the interview.
Mace, it was reported, called the problems leading up to the
company's recent warnings about its future financial results "a big
inventory screw up."
Mace said that Palm is turning the ship around, and said its
operating system will be powering mobile phones in Canada within
months.
One big hurdle for Palm is Microsoft Corp.'s (MSFT) handheld
operating system. "We're not on a religious war against Microsoft,"
Mace told reporters, adding, "We would like to kill their pocket PC
division and we'll do our best to do it."
Mace talked about Palm's plan to establish its operating system as
the industry standard, by allowing competitors like Handspring Inc.
(HAND) to use and enhance the Palm OS.
Palm shares recently traded at $4.54, up 39 cents or 9.4%, on volume
of 14.1 million, compared with a daily average of 20.1 million.
Rival Handspring shares rose 7.7%, or 37 cents, to $5.18. The maker
of the Visor handheld device said early Wednesday it was launching the
Visor in Korea.
Blackberry maker Research in Motion Ltd. (RIMM) recently changed
hands at $29.07 a share, up $1.43 or 5.3%.
Share's of Compaq Computer Corp. (CPQ) - whose handheld Gartner
Group's Dataquest said is likely to supplant Palm's as number one soon
- were up 20 cents at $13.50.
-By Maxwell Murphy, Dow Jones Newswires; 201-938-5173;
maxwell.murphy@dowjones.com
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+DJ Palm Shares Up 7% After Exec Interview With Canada Media
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