Brooks, I agree, but then I'd be expected too.<g> Seriously, with the market on edge and AMZN giving back eleven points (more than 13%) from its high today, is there room for any bad news in 'net stocks right now? I don't know that afterhours trading says much about this (if ever) since the only trade more than a couple minutes after the CNNfn story hit was 300 shares at almost five o'clock (possibly just a late report).
BTW, go to quote.com for after hours quotes (delayed).
Particularly noteworthy is this:
The company blamed the gloomy forecast on the cost of a recent acquisition and the likelihood that revenue growth will slow.
Bigger expenses to support slower growth isn't exactly reason for a continued rally. Also, as I said before, I have to wonder about anyone that pays $49 million for something and then writes off $45 million of it in one quarter. One, even to accountants, there has to be some justification for the immediate charge, so does that imply that they overpaid? Two, if it is really worth $49 million, I question the accountant that let's them take a bath now just to make future quarters look better. They should have to charge it off over time, but that would mean losses for an even longer period.
We'll see whether the market cares.
Bob |
