BAGAKOAA March 29, 2010 You can Please some of the people. . .
March 29, 2010 You can Please some of the people. . .
Well I got lucky by calling the wages and salaries portion of the Personal Income index correct it remained flat which was the high end of my guess. What kicked start the market today was the very positive spending portion of the report. That good news even over shadowed the tragic bombing in Moscow. It is kinda weird that a ship off the coast of Korea could suck 50 points out of the Dow last Thursday and this tragedy didnt even register? Strange this market we play in.
Since the Personal income number came in at the high end of my estimate, I am thinking I might have been too conservative on the Consumer Confidence number reporting tomorrow. I guessed flat and now I might be looking for a slight uptick, well see.
I was WAY OFF on Apollo Group. Their revenue was way up, like 23%. Earnings after a few adjustments, )that I want to check out later tonight), came in at 83 cents a share, 3 cents above estimates and 9 cents higher than my estimates. That was a bad guess and a nice surprise for shareholder as the stock went up $1.92 a share or 3+ %. Nice.
Cal-Maine the egg producer also surprised as they reported $1.45 a share. Revenue was up and commodity feed costs were down. I missed this one as well.
I promised a surprise today for HPJ and we got one they have moved back their reporting to March 30th. We will all be in suspense.
You probably heard that the government is going to sell some CitiGroup Stock (C). I have Citi as do about 5 other portfolios I assist with. The announcement of the sale of 7 billion share sell off caused C to drop 3.5%. I am confused as to how to play this myself. I am trying to find the details of the “structured” sale, but for such a “transparent” administration the details of the sale are a but allusive. The Governments (The Fed) position is at about $3.25 a share and there are assurances that they will not dump this stock and negatively impact shareholders value. Of course we can always trust the government.