Analysts surveyed by Nelson/Thompson Financial were expecting the company to
earn 17 cents per share for the quarter. APC's stock, which closed at $10.76 a
share yesterday, shot up 15 percent to $12.40 a share shortly after 5 p.m in
after-market trading last night.
"The company continues to be on extremely solid financial footing, it has
absolutely no debt and should have about $550 million to $560 million in cash on
the balance sheet," Eric Prouty, an analyst with Adams, Harkness & Hill, said
yesterday afternoon. "It remains in very, very good financial condition."
Folks,
from the perspective of a technician, APCC has taken out major resistance @ 12.2$ an will soon try to break the 13, 13.5 and 14$ resistances. It has clearly broken the downtrend from February and has installed a short term steep uptrend. The last days showed a classic consolidation in the uptrend. So far APCC is a speculative buy.
I´m still not convinced, that the bear market is over, so I tend to take this rally as is and lock in profits quickly.
Buying at the open should be good for some quick $$.
Happy trading
Paul |
