Wall Street applauds changing of the guard at Palm
On Wednesday, Palm, makers of the new Palm Pre, announced it would replace CEO Ed Colligan with Jon Rubenstein, a former Apple executive who will be charged with revitalizing the California-based tech company. Today, the news sent Palm shares from 6.7 percent to $12.79 in recent trading, according to The Wall Street Journal.
"We think Palm investors should view this transition as a positive," wrote analysts at JPMorgan, the Journal reported. "We believe Mr. Rubinstein has been the guiding force behind the Palm Pre and the webOS."