Ramsey, I can't believe that the financial press has yet to "discover" that he actually appears to have cut his 1Q estimate.
CBS MarketWatch
Last Update: 10:14 AM ET Feb 22, 1999 NewsWatch
NEW YORK (CBS.MW) -- Piper Jaffray analyst Ashok Kumar raised earnings estimates for Gateway Monday, citing strong sales generated by the company's Country Stores outlets as a major catalyst.
Kumar raised his first-quarter earnings estimate for the South Dakota-based computer maker (GTW) to 90 cents a share from 59 cents. For the 1999 fiscal year, Kumar revised his estimate to $3.87 from $2.82. He also upgraded the stock to a "strong buy" from "buy" and raised his 12-month price target to $95-$100 from $70, he told CBS MarketWatch.com.
cbs.marketwatch.com
And from the same media outlet this past Monday:
U.S. Bancorp Piper Jaffray gave a mixed review of Gateway (GTW), saying there was "minimal risk" that the computer company could miss its first-quarter profit estimate of 64 cents a share. The consensus estimate from First Call is for Gateway to profit 61 cents a share
cbs.marketwatch.com
Memo to the CBS editor responsible for letting your news organization look like they have no internal knowledge retrieval mechanisms in place:
Go to your library.
Take out a book on Alfred Hitchcock.
Look in the index under "red herring".
Look at the term "minimal risk" really hard.
If you choose to utter an expletive once the lightbulb goes off, please do it quietly...
...after all, you are in a library.
I have no clue what they're going to do.
But if they do end up beating their number, you can rest assured that the financial media will give him all the credit in the world about what a great call that was and totally forget that 2-22-99 b.s.
Outside of Bill Fleckenstein's column last night (yes, he's bearish, but IMHO you can disagree with his views and still find really useful info in his column no one else has picked up on) and you and someone else on the DELL thread, it's like it never happened.
It's just too bizarre.
Good trading,
Tom |
