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Webb Simpson, a two-time winner last year, carded a six-under 65 and is alone in second place. Harrison Frazar, Kevin Na, Chez Reavie, Derek Lamely and Jarrod Lyle are tied for third after posting five-under 66s.
The start of the first round at TPC Scottsdale was delayed one hour by frost. The round was suspended by darkness at 8:05 p.m. (et) and will resume Friday 9:30 a.m. (et). The second round will start as scheduled at 9:30 a.m.
The 35-year-old dropped his approach within 10 feet at the 18th and converted that birdie effort to get within two of Simpson.
Palmer made it two in a row with a birdie on the first. A 13-foot birdie putt on the fourth gave Palmer a share of the lead. He followed with a 12-footer for birdie on five and made it three in a row with a 10-foot birdie effort on the No. 6.
"I had two great days preparing on Tuesday and Wednesday," said Palmer, who missed the cut in his first two events this year. "Getting the old putter back out, and getting the old feelings I've had in the past, the way the swing feels and the way the body feels, it was set up for a good day today."
After making par at the raucous par-three 16th, Simpson drained a 22-footer birdie on 17 and followed with a six-foot birdie putt on 18.
Simpson climbed to minus-seven when he sank a 16-foot birdie try on the fifth. His drive landed in the rough on the sixth and that led to Simpson's only bogey of the day.
NOTES: This event needed a Monday finish last year after frost delays pushed everything back...Defending champion Mark Wilson is tied for 50th at minus- one...Former British Open champion Stewart Cink struggled to seven bogeys, three double-bogeys and a birdie in a round of 12-over 83...Forty-two of the 132 players that started did not finish their rounds.
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