AllThingsD » Matthew Thornton

My Prediction, Palm: Pain.

John Paczkowski — Thu, 04 Mar 2010 22:15:37 +0000

Palm lost about half a billion dollars in market value last week after the company warned of a nasty revenue shortfall. And it seems that was only the beginning of what may prove to be a long and painful decline. Investors brutalized Palm (PALM) Thursday, slashing nearly five percent from its share price, dragging it to $5.98 from $6.26.

$5.98 per share. A year ago Palm’s stock was trading at $18.09. Now, analysts like Matthew Thornton at Avian Securities are saying they see it falling to $4–at least in the short term.

Lousy sales of the company’s webOS smartphones have clearly undermined Palm’s efforts to regain its former glory. With the mood on The Street this dark, you’ve got to wonder if anyone believes that’s even possible anymore.

UPDATE: Here’s a bit of good news for Palm. At the Game Developers Conference in San Francisco next week, the company plans to release its webOS Plug-in Development Kit, a set of tools that may spur development or more, and higher quality, third party apps.

RIM: Despite Decline in U.S., Avian Sees Hope

Tiernan Ray — Tue, 30 Dec 2008 19:22:57 +0000

Combing through Research in Motion’s (RIMM) 6-K filing with the SEC dated Dec. 19, which covers the company’s third fiscal quarter ended in November, Avian Securities wireless analyst Matthew Thornton writes that the company’s prospects are still intact as it moves past product delays to introducing new BlackBerrys, including the Curve 8900, also known as the “Javelin,” along with November’s lineup of Storm, Flip and Bold.

Thornton trolls through various stats from the filing, including the fact that U.S. sales, which are 58 percent of revenue, were down nine percent in Q3 from the prior quarter, though up 62 percent year over year.

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Palm Shares Tumble; Morgan Keegan, Avian Downgrade

Eric Savitz — Wed, 05 Nov 2008 20:35:14 +0000

Palm (PALM) shares are down sharply this morning following downgrades of the stock by analysts at Avian Securities and Morgan Keegan.

Avian analyst Matthew Thornton cut his rating on the stock to Neutral from Positive. He says a survey of U.S. retail stores and discussions with management lead him to conclude that “smartphone units and sales are likely to come in below expectations for the next several quarters.” He also thinks the company will exit the May 2009 fiscal year with a much lower run rate for its Centro line, putting more pressure on new Palm OS products to meet or exceed expectations in fiscal 2010, “leaving less room for upside.” He cuts his price target on the stock to $5 from $9.

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