Market Soapbox 04/12/07
THU, down & up, DJIA +68 on below average volume with nice internals.
All UP cept DJUA & XAU. Bonds flat 10 yr yield +0 bps 4.73, $ down vs 119.056y & down vs 1.3488E, gold down $679.7, WTI crude up 3% $63.85
Its a wacky business... Q4 profit up 10X, sales +66%, yet Research In Motion (RIMM) tumbled 7.5% from an all time high... as Q4 results fell short of analyst expectations and forward guidance was flat...
Oh, it was those 3 magic words, not "I Love You" but "your under investigation"... an informal inquiry into RIMM's stock-option practices by the SEC is now a formal probe.
Begging from Peter to pay Paul.... March same-store sales checked in better than expected; on higher grocery prices and an early Easter. A handful of retailers warned that April sales will suffer as a result...
Pier 1 Imports reported a Q4 and annual loss with lowered sales; Rite Aid reported a sharp decline in Q4 earnings and revenue along with a loss for fiscal 2007.
Cost Plus Imports postponed to complete its review of certain inventory accounting practices that will affect year-end inventory reserve balances and cost of goods sold.
Restaurant Ruby Tuesday reported a decline in same store sales and lowered forward guidance. Bed, Bath & Beyond (BBBY) had a glowing report, and was punished...
those 3 words again... BBBY continues to cooperate with the previously disclosed inquiries into its stock option grant practices.
Those insiders must know something... REITs getting punked again... The group was down yesterday after Lehman Brothers said total insider sales volume in Q1 surged about 36% Yoy, the highest amount in four years.
The VIX settled back down from 14.15 to 12.78 as the market swung 130 pts from -58 down to +68.
The market ignored the bad micro & macro news while applauding a 3% rise in crude. SP500 falling to 1434 then bouncing to 1448.
Tomorrows PPI & GE before the bell await. Looks like either we break out to new heights with short covering or this is a double topping process.
Often wrong, but never in doubt, this is the Nattering Naybob and your not!!
All UP cept DJUA & XAU. Bonds flat 10 yr yield +0 bps 4.73, $ down vs 119.056y & down vs 1.3488E, gold down $679.7, WTI crude up 3% $63.85
Its a wacky business... Q4 profit up 10X, sales +66%, yet Research In Motion (RIMM) tumbled 7.5% from an all time high... as Q4 results fell short of analyst expectations and forward guidance was flat...
Oh, it was those 3 magic words, not "I Love You" but "your under investigation"... an informal inquiry into RIMM's stock-option practices by the SEC is now a formal probe.
Begging from Peter to pay Paul.... March same-store sales checked in better than expected; on higher grocery prices and an early Easter. A handful of retailers warned that April sales will suffer as a result...
Pier 1 Imports reported a Q4 and annual loss with lowered sales; Rite Aid reported a sharp decline in Q4 earnings and revenue along with a loss for fiscal 2007.
Cost Plus Imports postponed to complete its review of certain inventory accounting practices that will affect year-end inventory reserve balances and cost of goods sold.
Restaurant Ruby Tuesday reported a decline in same store sales and lowered forward guidance. Bed, Bath & Beyond (BBBY) had a glowing report, and was punished...
those 3 words again... BBBY continues to cooperate with the previously disclosed inquiries into its stock option grant practices.
Those insiders must know something... REITs getting punked again... The group was down yesterday after Lehman Brothers said total insider sales volume in Q1 surged about 36% Yoy, the highest amount in four years.
The VIX settled back down from 14.15 to 12.78 as the market swung 130 pts from -58 down to +68.
The market ignored the bad micro & macro news while applauding a 3% rise in crude. SP500 falling to 1434 then bouncing to 1448.
Tomorrows PPI & GE before the bell await. Looks like either we break out to new heights with short covering or this is a double topping process.
Often wrong, but never in doubt, this is the Nattering Naybob and your not!!
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