Morning All:
1) The Dude has returned from vacation....please pass the hat for this one broke Texan. 5 days in NYC would probably even break Warren B.(:>)
2) Side trip to Maine was wonderful. Would recommend to anyone who likes a cool vacation spot. Lobsters were wonderful. An aside to you Harold, if you plan to take the high-speed ferry from Bar Harbor to Nova Scotia,make note that it is temporarily out of service...seems they hit something in the water and they can't determine what it was..speculation, it was a whale,but they don't know.
As for PM, I don't know if this information has been posted but I would like to share info I got from PM...thanks to Karen(:>)
There has been speculation about Josephthal reducing 1st and 2nd quarater earnings but this is what they issued on July 1....
"In an earlier Program Memorandum dated last April, HCFA had proposed that Medicare pay for up to 50 test strips and 50 lancets every two months for drug-using Type 2s. These final guidelines are clearly more generous and have the POTENTIAL(ME)to significantly boost revenues at Liberty Medical, since a large portion of its unit volume consists of testing supplies.
Further, finalization of the guidelines should help clear up any confusion that has been surrounding the stock and keeping it at depressed levels.
We expect Liberty Medical to turn in revenues of between $68 million and $70 Million in FY 1999, up from $48 million last year. This figure includes contributions from Type 2 patients; however, our estimates for average order size may be low because they are derived from the proposed, NOT THE FINAL(me), guidelines.
We continue to rate PM a BUY, with a price target of $18-$29 in 18 months."
It is obvious to me that Ms. di Stefano still is a firm believer in PM and the fact she was quoted in the WSJ as to what she thinks about the company has put her on record and she has an outstanding record IMO.
18 months seems like a long time, but if it delivers a 300% return, I can wait.(:>)
I close by saying....please send rain to Texas and send some of that cool Maine weather for a few days. |
