CL King Not Comfortable With Palm

CL King has given a Neutral rating for Palm Inc. (NASDAQ: PALM) and noted that the competition is on the rise in the smart phone market.

It expects Palm to report a Non-GAAP EPS loss of $0.29 on revenues of$263 million. CL King believes that Motorola Inc. (NYSE: MOT) DROID is the top selling individual model at Verizon Communications Inc. (NYSE: VZ). Earlier the UK based publication Mobile Today had reported that the sales of Palm Pre in the UK continue to be disappointing. The stock is currently trading at $12.07.