Tuesday, June 22, 2010

June 22, 2010 Here come da judge, here come da judge


 June 22, 2010 Here come da judge, here come da judge

I started this blog today from inside the Orange County Municipal Superior Court. I had been called to do my civic duty. Don't ask me about the case I can't talk about it. The day has given me ample opportunity ton clean up some email and watch the market. This is as borings as watching a television show made. Sorry Kristin?

Looks like I came close to calling the existing home sales number but it did come in lower than even I had expected. Cramer was sending notes out today to take profits in HD, Home Depot on the news. We were way ahead of him that one. We took profits on the flash crash day and did not get back in.

Unfortunately I did not have the opportunity to fish for linkage today as we were entertaining tonight and it is late. I called it beating the expected 57 cents a share and the report came in at 46 cents a share a big miss. Revenues were up 6.2% which is why I was expecting a beat, but expenses were up even more. The CEO tried to give some words of encouragement but the stock took about a 5% hit today. If you like the sector take a look at WAG as it is real cheap now. Do your homework. I will take a close look at it as well.

Jabil reported and as estimated here had a great quarter. The street price was 34 cents a share, I was expecting 36 and they got 38 on some great top line sales. This bodes well for most of the electronic segment.

Carnival reported today and I missed that one as I was expecting a beat of 30 cents a share all the way to 34 cents a share. They did beat but not enough to impress and the CEO is lowering expectations for the balance of the year because of increased fuel costs.

I know this was a really weak blog tonight, but quite honestly, its late, I’m tired and I enjoyed too much Rubicon and Justin Isosceles. Another great meal at Hannas.

Salve Lucrum


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