Arrow and All,
I posted this on the INTC thread, but I thought you, and all here, would also appreciate reading the post.
Message 8920703
Regards,
Jules
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Harry and All,
I find it rather ironic that INTC should be down today, (-3 1/2 @ 57). For more than 2 years I have complained of IBM's poor quality of earnings. I have watched their stock go up, sometimes 7 points in a day, after they made their analyst's estimated earnings numbers by buying back stock and reducing their tax rates for the Quarter. At times these two items alone have accounted for $.12 to $.19 cents per share per quarter, (Q after Q).
Yet, INTC reports one Quarter's earnings on Tuesday,(beating estimates by $.02, with higher than expected GP Margins), but the earnings included a $.02 a share contribution from sold securities...(in a Q when these securities were at all time highs), and a $.01 contribution from a lower tax rate, and INTC's stock goes down 3 1/2 points, after the day before's 5 point drop.
Where is the rationality?
Is it because analysts who follow INTC do not speak to the analysts who follow IBM?
Jules
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