Montgomery did not lower its 3rd quarter earnings. Since they said they expect gross margins to be lower, they obviously compensated with higher sales expectations. As expected they kept their "hold" recommendation.
Sidebar - bye Brian and Jeff, see you back here soon. For what its worth, the gloom around here seems unwarranted to me. Today was interesting, but not that bad. The ACTUAL results of the second quarter were pretty much as expected for anyone who listened to the conference call back in January (and read between the lines about upcoming q1 and q2 results). Obviously, market psychology didn't react well to the news. But, if I am still reading correctly, oo's 3rd quarter is going to be strong, and the 4th quarter is going to be even better (compared to generally lower 4th quarter expectations). So, unless the economy tanks, the stock market tanks, or the sunglass industry tanks, once the dust settles in the next few days (maybe it already has), we should only hear rosey news, and rosey news causes stock prices to overreact positively.
David |
