Wind River Rises 8.7% as It Allays 4th-Qtr Concerns (Update1)
Foos:
Great I knew I could count on you for some intelligent input,much obliged for the time and thoughts. I agree with you, nothing like a sell off to pick up some good stock,I am also a great believer,pronent and practioner of this concept,easy money if you ask me.It worked majority of the times for me. I am really surprised at the market behavior with respect to WIND on Friday,after all they said they will make $0.27 to $0.30 for the quarter,it is not like the bottom has fallen off or anything,sheesh.
Also do note that Sheila woman from HQ doesn't appear to have suspended coverage of the company indefinitely she just suspended her 'rating' on the company for the time being I am sure due to the confusion that was injected into the market place buy the imbecile from Lehman (well wait a minute,actually I think he did some of us a favor so he couldn't be all that bad.<vbg>),she will most likely wait until after the earnings release to resume her rating again,so there that is not all that bad.
Now here is something I just came across on Bloomberg,looks good to me.
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Wind River Rises 8.7% as It Allays 4th-Qtr Concerns (Update1) (Updates with closing stock price.)
Alameda, California, Jan. 25 (Bloomberg) -- Wind River Systems Inc. shares rose 8.7 percent after the maker of software for consumer electronics allayed investor concerns that fiscal fourth-quarter earnings would fall short of forecasts.
Wind River rose 2 13/16 to 35, or 8.7 percent, in trading of 3.86 million, more than nine times the three-month daily average.
The company's shares slid 35 percent on Friday amid concern that profit in the period ending Jan. 31 would fall short of 29 cents a share, the average estimate of five analysts polled by First Call Corp. Wind River said late Friday that it expects earnings of 27 cents to 30 cents for the quarter. ''People may be inclined to believe the drop Friday was overdone,'' said Sheila Ennis, an analyst at Hambrecht & Quist.
Ennis added that the increase in shares today is small when compared with Friday's loss.
Alameda, California-based Wind River also said it expects fourth-quarter revenue of $37 million to $39 million. It expects revenue of $128 million to $130 million and earnings of 89 cents to 92 cents a share for fiscal 1999. The company is expected to earn 91 cents a share for the fiscal year, according to First Call.
Friday's plunge came after Lehman Brothers Inc. analyst Michael Stanek warned his clients that the company's earnings could be less than expected.
Ennis said Wind River has declined to discuss the matter and won't communicate with analysts before it reports earnings Feb. 25. ''I've suspended my rating,'' she said, ''based on the fact that the company has gone completely quiet.''
Wind River Chief Financial Officer Richard Kraber said the company is in its self-imposed quiet period until its earnings report. Kraber declined to comment on whether he talked to analysts on Friday. ''We're not quite sure'' what happened to the stock on Friday, Kraber said. ''Over time we'll sort it out.''
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