Palm's New Treo Still Can't Compete with RIM's Blackberry

3/25 - "Palm Inc.'s (PALM) risk profile has increased significantly, says Canaccord Adams analyst Peter Misek, who adds he’s “not convinced” that the scheduled launch of its Windows-based mobile Treo device this summer, aimed at the enterprise smartphone market, will be enough to turn around the company’s fortunes."

"Mr. Miskek says the company’s risk profile has increased due to to its $74.4-million in illiquid auction rate securites that it is currently evaluating for impairment. These auction rate securities are now classified as cash, and any impairment charge could decrease cash balances by as much as 10% - 25%. Mr. Misek notes that Standard & Poor’s recently cut Palm’s credit rating to junk status."