Off to Vegas tomorrow. Will meet up with the Marquis, Crestfallen, and PetDander. Going to be staying in an off-strip hotel this time around. The World Series of Poker has really driven up Vegas hotel rates. Let's not even get into airfare. To get into Vegas mood, I ended my vacation from poker this week, and clearing the PokerRoom bonus. Hopefully, Vegas will treat me well. That would really be nice after today's market bloodbath.
Also, just to give an update, Solectron's earnings report was neutral at best, which was disappointing to say the least. On the positive side, they announced winning a significant contract with Lucent in their conference call. Despite meeting analysts' earnings expectations this quarter, they remain in a revenue-challenged environment unfortunately. Additionally, they are experiencing serious revenue volatility in certain segments of their business, and they guided their revenues about 5-10% lower than previous expectations. They are still cash-rich with a whopping $1.6B in cash. This is after they paid down $500MM in their most expensive debt. They did hint at a stock buyback during the call as well. So, I need to decide if I want to add to this position, hold on, or dump the shares. I am most likely going to continue holding on to what I've got. After all, I did initiate the position at a decent price at $3.50.