<..MU supposedly beat estimates, but they had to incorporate a non-recurring gain to do so...>
I'm going to address the issue once more, then you (and anyone else still confused) can continue to figure it out.
Regardless of what you may have heard, MU's earnings press release and their 10Q are the defining documents. Both of those clearly broke out the non-recurring gains and reported .18 for 97Q3. This was on the tape, and anyone aware enough to consider buying on the basis of an "upside surprise" knew to use the .18 "exclusive of one-time gain from the sale of assets" number.
Flat out, MU would have been sanctioned by the NYSE and criminally prosecuted by the SEC if they hid this charge.
NO ONE familiar with the markets would have made the mistake of including the non-recurring gain in comparing EPS to the street's estimate. Did you? I would certainly believe that you did. Trust that no one buying any appreciable amount of stock (that could potentially affect the stock price) would make this same mistake.
<..companies are rewarded for beating estimates, it doesnt really
matter how...>
If your statement refers to Wall St., and those who know anything about it, you are still talking garbage. Maybe YOU reward them for beating estimates that include non-recurring gains, but you are almost certainly alone in this peculiar inclination.
Believe whatever you care to, but I see little reason to interact further on this with you. |
