UBS Cuts Palm (PALM) to Sell On Smartphone Competition
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Intra-day, UBS downgraded Palm, Inc. (Nasdaq: PALM) from Neutral to Sell, citing intense competition from the iPhone and BlackBerry.
RIM recently introduced the 3G BlackBerry Bold and Apple is expected to launch a 3G version of the iPhone shortly, which the firm says creates competitive challenges for Treo maker Palm.
Shares of Palm traded down 2% today to $5.82.
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