Is Palm for sale?

Rumors of Palm being up for sale surfaced late last week, and judging by the stock jump, Wall Street loved the idea.

Palm shares rose from $1.06 to $16.45 per share when the gossip started swirling Thursday. According to SFGate.com, Gartner analyst Ken Dulaney said he’d heard Palm was seeking a buyer, and that such a scenario would be beneficial for the Treo maker, which could use the extra capital and resources that a parent company could provide.

Motorola and Microsoft are a few of the names being touted as potential buyers. Citigroup analyst Daryl Armstrong said acquiring Palm wouldn’t make sense for Motorola, which is currently pushing its own smart phone, the Q.