Wednesday, July 20, 2005

Today's Scoreboard

Quick update on key stocks today.

From the short-term trading account:

Intel (INTC) -6% - due to disappointing earnings report yesterday.

EBAY -1.5% - due to disappointing Yahoo (YHOO) earnings. Their earnings come out today after market close. Analysts have been cautious up to now. Deutsche Bank believes Q3 guidance could pose a problem. Prudential has also cautioned on investors' willingness to pay a high multiple for the stock due to slowing growth. This is a half-sized position, so I'll be holding this through earnings.

From the long-term core account:

Eastman Kodak (EK) -8% - very disappointing earnings released this a.m. Yes, I am pissed off about this one. I'm going to give Perez another quarter (maybe two). After previous quarter's earnings, I said I would give the company two quarters. We've now seen one of them. I do not like what I see, but I am willing to be a bit more patient. Kodak is such a large beast with so much inertia, that a turnaround is expected to be slow. But, if a turnaround materializes, it will move huge.

Amgen (AMGN) +15% - blowout earnings released yesterday, and boosted profit forecasts.

Altria Group (MO) +0.3% - earnings released this a.m. were better than expectations, plus they boosted earnings forecasts.

St. Jude Medical (STJ) +6.5% - earnings released this a.m. were also better than expectations, and they, too, boosted earnings forecasts.

Ask Jeeves (ASKJ) - No longer exists. IAC Interactive (IACI) successfully completed the acquisition. For every share of ASKJ, I received 1.2668 shares of IACI. Also, I should be receiving spin-off shares the week of August 8th from IACI.

North Fork Bank (NFB) -1.7% - Earnings were strong, but it looks like they might have just missed analyst estimates. Concerns about their loan portfolio are growing as Greenspan talks up increased rate hikes. Also, keep in mind that today's flattening yield curve does not help provide a happy banking environment.

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