Palm dives 25% over profit warning release

The handheld computer maker, Palm declared that its Q3 profit was US$9.3mln, 2 US cents per share, higher than the market expectation. Meanwhile, Palm also said that the company recently had been influenced by the deteriorating economy, resulting in a reduced incoming order rate amid signs of what appears to be a sector slowdown. Palm is projecting revenue of US$300mln to US$315mln lowering than the market expectation; 8 US cents loss per share vs expected 3 US cents. Affected by the news, Palm dove 25% after closing.  

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