announced this morning. We will see if BBBY has any ARS writedowns and how that will possibly affect their cash balance and ability to keep up with share buybacks combined with a rapidly slowing economy.
Palm 3Q Loss Was Bigger Than Reported Monday April 7, 12:10 pm ET Palm Revises Results, Reports $25 Million Charge for Auction Rate Securities
SAN JOSE, Calif. (AP) -- Handset maker Palm Inc. says it lost more in the third quarter than it initially reported as a result of a write-down for the diminished value of some securities. The company said Monday it lost $57 million in the three months ended in Feb. 28 rather than the $31.5 million that it reported last month.
The change comes as a result of a $25 million write-down for auction-rate securities that have lost value since the collapse of that debt market in February.
The revised $57 million loss contrasts with a profit of $11.8 million in the year-ago period.
..Thanks for that post. Although does not seem to have much of an effect on PALM, that stock is already at $5. AND, for BBBY, the exposure is $300 million......
Additionally, the comparisons and guidance will be horrific given economic conditions, restrained consumer spending and slim margins due to extensive competition...Yes, some of this news is discounted in the current stock price but I think there is still 20-30% downside exposure