telecommunications carrier

Longtime PDA and phone manufacturer Palm had a rough day Friday. Although the stock exchange rose sharply in the wake of news that the U.S. government was stepping in to stabilize the financial markets, Palm's stock fell nearly eight percent, to $7.83.

The drop was driven by the release of Palm's fiscal first quarter results. The company said its revenue rose less than two percent, to $366.9 million, while its quarterly loss rose to $41.9 million, or 39 cents a share.