A Slow Winner Is A Winner Still...
For veteran SEEK-watchers, our friend, SEEK, easily
de-couples from its faster brethren like XCIT and LCOS.
It's beginning to look like yesterday's run was fed largely
by renewed buyout rumors. I think some traders
and even some wise money managers looked at the CNNfn
news and said, "Hmmm, didn't good Harry used to work for Ted
in Turner land?" These rumors won't just evaporate. And
coupled with some wonderfully hotted-up speculation about
SEEK's quarter... and there's plenty of reason to feel
good even in the short-term.
( A sidebar: in the weeks before its last earnings
release, SEEK was hugely SILENT. They beat Street
estimates. One wonders, while reading tea leaves,
what it means for SEEK to be comparatively noisy in
the run-up to their next earnings release. You would
think they might want to be quiet to spring a surprise...
in this age of trying to moderate expectations. But, what
if they had a bigger surprise than the Street might imagine?
You might want to set the stage and attract as many eyes
as possible. Idle speculation on a lovely Spring evening.
Very idle speculation plus tortured logic and a dash of
El Nino: the excuse of our age.)
But, the larger truth remains... Harry and gang are making
lots of the right moves and right noises. I've said this
before but it bears repeating: this company ain't the same
company it was a year ago. New blood. New ideas. There
was a wholesale housecleaning with Motro's arrival, some
voluntarily, others being shoved off the boat.
If you can afford--or are temperamentally constituted--to
take a six-month view of this company, looking backward
you can see tremendous strides (international gains, new
deals, and a new 'take on all comers' attitude) and indications
of what the future will hold. Having met in the past
couple of months one of SEEK's VP's of International Sales,
I can tell you I sense that the company is enthused about
its own prospects. (I know, that and $3.46 will get a
Mocha Grande Decaf at Starbuck's)
Best Regards To All Good, Even-Tempered
SEEKers,
c m
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