Interesting if you look at a daily graph of just the close (not O-H-L-C bars), there are lots of little 5+% downward spikes. But, because of the excessive spreads, these spikes can happen with no real price movement, depending on whether the last trade of the day was a buy or sell. Seems to correlate well with just before earnings are released, wit a few more in between. Always recovers though. First Call say 7/25 earnings release, 28 cents expected, 4 anal-ists. Zacks says 7/17 (5 days ago--uh oh!), 28 cents. Judging from the past 4 earnings surprises and the reaction after earnings release, my opinion is anything less than 32 cents will be a dissapointment, anything more than 36 cents bullish, and anything in between neutral (magnified by the amount the actual earnings are above or below these numbers. But, then again, past performance is no guarantee of future results. I'm hoping they report numbers as good or better than the rest of the leaders in their industry group.
dh |
