MILPITAS, Calif.-PalmOne Inc.’s shares jumped almost 15 percent in trading after Wall Street investment firm JP Morgan upgraded the company’s stock from “neutral” to “overweight,” citing the success of the company’s Treo 600 mobile phone/personal digital assistant device.
PalmOne’s shares jumped by about $1.63 to almost $13 per share in trading after the upgrade. According to reports, JP Morgan said more than 1,000 corporations are trialing the Treo 600 device, which gives mobile workers wireless access to corporate information. Indeed, those within the wireless enterprise industry have said the Treo 600 is the new “hot” device for executives.
PalmOne scored the Treo device through its acquisition of rival Handspring Inc. last year. PalmOne is scheduled to discuss its third-quarter earnings March 22.
