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Palm Rockets as Stocks Stumble

By Paul Shread
January 12, 2009

Stocks tumbled Friday on news that the economy lost another half million jobs last month, but Palm continued its two-day rocket ride.

Palm shares soared 34%, for a two-day gain of 80%, on optimism that its new operating system and smartphone can reverse market shares losses to Research in Motion and Apple.

But the rest of the tech sector led the market lower on news that the economy lost more than 500,000 jobs again last month, for total job losses of 2.6 million last year, and a decline in the average work week suggests that there are more job losses to come.

See here for rest of this article at InternetNews.com.



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