CBSMW Report:
Negative surprises
Waste Management (WMI: news, msgs) shares fell 7.6 percent
after the company said it earned $384 million, or 61 cents a
share, up from the $199 million, or 34 cents, a year ago. First
Call said analysts' consensus was 62 cents. The results excluded
merger costs and a loss from continuing operations charges that
decreased net earnings per share by 3 cents during both periods.
Shares were down 2 11/16 to 54 11/16.
Ibis Technology (IBIS: news, msgs) reported first-quarter
earnings 3 cents below Wall Street's average estimate on
Wednesday, despite increased revenue. Ibis said its net income
was $246,000, or 3 cents a share, compared with a net loss of
$909,000, or 14 cents, the year earlier. Revenue for the period
was $4.4 million, a 162 percent jump from the $1.7 million in the
year-ago first quarter. Ibis makes specialized wafers for the
semiconductor industry. Shares of Danvers, Mass.-based Ibis were down 1/2 to 20 1/2.
<end report>
And yet it appears as though the stock has bottomed and is headed up Monday.
Does anyone have a better read on what this stock is doing?
HerbVic |
