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Palm Stock Soars on Rubinstein CEO News

Jon Rubinstein, who once led the iPod division at Apple Inc. (AAPL), is taking over as CEO of device maker Palm Inc. (PALM)

Rubinstein has worked at Palm since June 2007. He replaces Ed Colligan, a man many observers view as the last representative of the “old Palm” (think the Palm Pilot days before Palm went through an unhappy series of ownership changes).

Wall Street is loving the Rubinstein news. Since Palm made its announcement on Wednesday, Palm’s shares have only gone up. Near closing on Thursday, the company’s stock was trading for $13.32, an 11 percent increase over the previous day.

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