SAN FRANCISCO (MarketWatch) -- Palm Inc. shares surged for a second straight session on Monday, leading to gains across the tech sector as the smartphone maker's shares climbed more than 17% following reports the company is looking for a buyer.
Palm /quotes/comstock/15*!palm/quotes/nls/palm (PALM 5.95, -0.09, -1.49%) rose 88 cents to close at $6.04 a share after Bloomberg News reported the company has hired Goldman Sachs and Qatalyst Partners to search for a buyer for the maker of the Pre and other smartphones. Palm has seen its fortunes turn south of late due to weak sales and competition from the likes of Apple Inc. /quotes/comstock/15*!aapl/quotes/nls/aapl (AAPL 242.17, -0.12, -0.05%) and Research In Motion Ltd. /quotes/comstock/15*!rimm/quotes/nls/rimm (RIMM 70.47, -0.07, -0.10%) Read more about the pressures facing Palm.
http://www.marketwatch.com/story/palm-gains-take-tech-sector-spotlight-2010-04-12?dist=countdown
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