wla(warner lambert) Message Board

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Biotech / Medical : wla(warner lambert)

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To: Captain Jack who wrote (471)	1/26/1999 11:57:00 AM
From: Lel H	Read Replies (1) of 942

Just one person's opinion on the price action following earnings: I think the reason why WLA dropped yesterday is because it ONLY met street estimates. There were investors, including myself, who were hoping that WLA would beat the consensus. When that didn't happen, some short term traders (not me) may have sent this one down temporarily. This earnings period has been full of companies beating street estimates, so WLA's non-surprise probably disappointed some people. The EPS report is a bizarre animal, isn't it? Look at MMM yesterday. They reported that earnings had fallen from the previous year and the previous 4Q, yet when they beat the estimates it traded as high as $6 above Friday's close. It can seem pretty inexplicable WLAers, who have seen tremendous earnings growth.

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