To All:
Does anybody here have a confirmed earnings report date for Remedy? My broker (who doesn't follow RMDY) tells me the report will come out on Wednesday, 7/24, and First Call simply indicates the week of 7/22. I've contacted Remedy via e-mail but have not yet received a response from investor relations. First Call gives a consensus estimate of $0.18 for this quarter.
This stock is looking very strong (even a little TOO strong) as it approaches its report date. Given the huge upward surge by Vantive on Friday, 7/19, after it reported excellent earnings, and previous remarks by Remedy's management indicating that they are "comfortable" with Q2 estimates, it seems reasonable to hope for good results with this stock, despite its rather high PE (which is nevertheless lower than Vantive's, if I'm not mistaken). Oddly, RMDY's performance probably hinges primarily on Microsoft's earnings! If MSFT comes out with a nice upside earnings surprise on Monday evening, Remedy should rise nicely with the tide. However, I suspect that if MSFT just hits or (god forbid!) misses its consensus estimate, the floor will fall out from under the techs generally; in such an environment, RMDY would be especially hard hit since it has moved upward so violently this past week, and does suffer from overly high PE and RSI.
Thanks in advance for any earnings info, and here's hoping for the best... |
