Palm (PALM) Sees Upside on Verizon Wireless Price Cuts
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Shares of Palm (NASDAQ: PALM) may be seeing a boost today from Verizon's (NYSE: VZ) newly announced price cuts on certain wireless services, in an effort to get more users to embrace the warm, comforting grasp of a smartphone. Specifically, rates on some unlimited plans will be reduced and some feature phone plans will be eliminated.
The move may benefit companies such as Qualcomm (NASDAQ: QCOM), Motorola (NYSE: MOT), and Research in Motion (NASDAQ: RIMM), according to analysts. None of the aforementioned companies are moving aggressively like Palm, and most are in the red today.
Palm is introducing their new Pre Plus and Pixi Plus exclusively on the Verizon Network soon.
Shares of Palm are up 3.6% today.
The move may benefit companies such as Qualcomm (NASDAQ: QCOM), Motorola (NYSE: MOT), and Research in Motion (NASDAQ: RIMM), according to analysts. None of the aforementioned companies are moving aggressively like Palm, and most are in the red today.
Palm is introducing their new Pre Plus and Pixi Plus exclusively on the Verizon Network soon.
Shares of Palm are up 3.6% today.
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