Auction-Rate Securities Knife Palm (PALM)

April 7, 2008 by Douglas A. McIntyre

In what is likely to become almost a routine announcement for public companies, Palm (NASDAQ: PALM)  revised its fiscal third quarter loss.

The device company took at write-down for the value of auction-rate securities carried on its balance sheet. The haircut was $25 million.

The Palm loss jumped from $32 million to $57 million.

Palm may have to take another write-down on the paper in the next quarter if the value of these auction-rate notes, which now rarely trade, falls further.

Douglas A. McIntyre

o

Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)

Take the quiz below to get matched with a financial advisor today.

Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.

Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the
advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future

Take the retirement quiz right here.

Posted in Investing | No Comments »