MSPG upgraded by Jeffries... earnings plays hot: SLR +7, PAYX, BBY*,INTV.. Chairman of PAYX was on CNBS this afternoon... because of the "popping" of the earnings plays I will begin a preliminary earnings plays report by Friday morning of the companies that are in the top 5% according to fundamentals and whos technical rank is looking 'ripe' for possible entry. This is to enable you to 'track them' in advance of the report date. The full analysis will come during the weekend. Remember you have about 20 stocks to track this week so it won't make sense to add another 20 for next week already.
With our hot watch list stocks on one hand and the earnings plays
on the other, we will have a plethora of plays through january.
Remember you are going to see some companies that are unfamililar to you on the watchlists, but these are the 'hot' growth companies of the future and should be entered into your database. Companies trading between 10 and 25 dollars a share will proliferate.
As we approach the hot and heavy season.. you should expect other companies to call earnings warnings. This is typical and expected..it will not effect companies with good reports, but only give them a 'bonus' for being able to withstand the pressures and still come out with accelerated earnings growth for the quarter reporting.
*Best Buy's 3rd-Quarter Earnings Doubled Amid Strong Holiday Sales
*NEW YORK -(Dow Jones)- Earnings at consumer electronics retailer Best Buy more than doubled in the latest fiscal third quarter - as the company said Tuesday that the holiday shopping season got off to a strong start amid high demand for items like DVD players and
personal computers.
The Minneapolis-based company (BBY) reported net income rose to $54.4 million, or 52 cents a diluted share, for the quarter ended Nov. 28 from $26.4 million, or 29 cents a diluted share, a year earlier. Results for the lates quarter were slightly better than
the mean estimate of analysts surveyed by First Call for a profit of 50 cents a share.
Best Buy said prepayment premium and write-off of deferred offering costs reduced third-quarter diluted earnings per share by about three cents.
Revenue, meanwhile, jumped 18% to $2.49 billion.
The company said that third-quarter same-store sales - those at stores open at least one year - rose 12.2%.
"Strong sales of technology products, such as DVD, DBS, digital cameras and cellular telephones, as well as entertainment software, contributed to our record sales and
earnings," said Chairman and Chief Executive Richard M. Schulze. He also cited "increased efficiencies," which allowed the company "to capitalize on these sales trends."
Best Buy said that for fiscal year 2000, beginning February 28, 1999, the company plans to open 40 to 45 stores including entry into the new markets of San Francisco and Sacramento, California; Northern Florida; upstate New York; and Norfolk and Richmond,
Virginia. . |
