Börsipäev 12. august - Investeerimine - Foorum - LHV finantsportaal

LHV finantsportaal

Foorum Investeerimine

Börsipäev 12. august

Kommentaari jätmiseks loo konto või logi sisse

  • 07:16 PIR A dogged buyer of bedraggled Pier1 - BusinessWeek (14.25 )

    BusinessWeek highlights Pier 1, saying that poor sales and disappointing profits have bedeviled the co. The Street has turned cold, but Mark Boyar of Boyar Asset Mgmt is buying, again. This is his third time: In '91 he bought at 2 and sold in '97 after shares jumped to 9, when growth investors moved in. The stock leaped to 20 by March, '98. Soon after, sales dropped, and by Oct it had plunged to 9. Enter Boyar. He sold in early '02, when the stock hit 20. It rose as high as 24. Pier 1 is selling at 1.5x book value, "a steal," says Boyar. As a result, he isn't ruling out a takeover by a large retailer. "Pier 1 is now a much more valuable business, and is taking steps to turn itself around," he says. It cut prices, reduced inventory by 15%, and is on a marketing blitz, says Boyar, who sees the stock at 30 in 5 years, based on cash flow of $2.5-3 a share.
  • Cody Willard:

    Dell Might Teach Summer's Dog Days a New Trick
    8/12/2005 8:38 AM EDT

    Dell's (DELL:Nasdaq) blows up. That will be the focus of the day. By the company's admission, it focused too much on taking market share and it did not execute well. Despite the fact that it was another record quarter -- bigger than at the peak of the bubble -- from what is clearly one of the greatest companies created in the last couple of decades, Dell's results and guidance can be termed "Ug-ly."

    Dell's more expensive than either Cisco (CSCO:Nasdaq) or Microsoft (MSFT:Nasdaq), each of whose recent reports were also weak relative to expectations. Although the guide-down for next quarter's sales and earnings by Dell is far from disastrous, the reasons behind the guide-down -- especially the company's comments about average selling prices falling faster than hoped for -- are of concern. With both of these two factors working against Dell's stock here, it's going to be an ugly day for Dell's shareholders.

    However, since the terrorist attacks in London in July, the U.S. markets have made it a point to do exactly the opposite of what should be expected. The day of those attacks brought about a big rally that turned into a sustained move higher, despite oil hitting record highs seemingly daily, rates moving higher, and more terrorism threats and activities. So it's not surprising that the futures, including the Nasdaq, are about flat this morning despite Dell's blow-up. I've been pretty vocal about my caution in this market lately, but while Dell's results certainly don't make me want to run for the hills here, they certainly don't make me want to jump up and down and cover my short hedges.

    That said, I'm not going to extrapolate Dell's woes to the wider tech sector, other than to PC vendors like Dell, HPQ and Gateway. I'd also note that aggressive cuts in the average selling prices of a major U.S. economic engine like PCs is a major inflation fighter. The economy, including the techonomy, is far from "on fire," but neither is it collapsing. It's just steadily growing, as Dell's results -- although weak relative to expectations -- reveal.

    I don't expect the market to shrug off Dell's disappointing numbers, and if we do get some intraday spikes, I'm likely to look to increase those short hedges. Careful out there today, as it's not likely to be the sleepy summer Friday it appears to be.

    Net long CSCO, MSFT

    Gary B. Smith:

  • Gapping Up

    Gapping up on strong earnings/guidance: NVDA +7%, STEN +22%, ELTK +13%, ELX +10%, ALTI +9%, IIJI +5.6%... Other News: TASR +8.2% (wrongful death lawsuit dismissed), TOA +5% (withdraws stock offering), GEOI +4.3% (files 10-Q), HANS +3% (responds to speculation).

    Gapping Down

    Gapping down on disappointing earnings/guidance: DELL -8% (also Goldman downgrade; down in sympathy: GTW -5.2%, HPQ -2.2%, AAPL -1.5%), JMDT -23% (also Kaufman Bros downgrade), RRGB -20% (also Bear Stearns and OpCo downgrades), IPII -24%, MOVI -10.4%, CREE -7%, DIGE -5.7%, HAWK -5%, ING -2.9%.... Other News: PANL -6%, BCON -6% (reports tonight; pulls back after recent rally), USAK -3.8% (stock offering).
  • Kas keegi komenteeriks IPII tulemusi. Nimelt on aktsia viimase aasta jooksul meeletult tõusnud, aga kasum on sama mis aasata tagasi.

Teemade nimekirja