Mary, Those are the best theories, the made up ones we can't defend. <G>
I recommend you go to the Intel thread and look at some past earnings announcements and the way they spin them. I have one sitting in front of me right now. There is a big headline, then a small headline, then the smaller print body of the piece:
Big Headline: Intel's 1997 Revenue and Earnings Set New Records.
Little Headline: 1997 Revenues up 20% to $25.1 Billion; 1997 EPS $3.87, up 33%; Record Quarterly Revenue.
Small print in the text, two super touty paragraphs about how wonderful business was.
Third paragraph in: "Earnings per share for the fourth quarter were $.98, down from $1.06 in 1996."
Then 6 more super touty paragraphs.
I offer that and scores of other similar news releases as prima faciae evidence that this co. is definitely trying to fool people. And, to their credit, it seems to work often.
Mary, you may be an Intel fan, but I think you consider yourself honest. Wouldn't you consider the quarterly eps number at least as important as the other numbers mentioned in the headlines?
When a co. is sleazy, it is easy to find examples where they hang themselves. This was not always the case at Intel. There was a time when I considered them as honest as Hewlett-Packard. But it is obvious that mgt. has sold their souls to the option scam, shareholder value method of increasing their personal net worth and prestige at the expense of honesty.
Good Luck,
MB
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