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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime -- Ignore unavailable to you. Want to Upgrade?

To: keith massey who wrote (17952)	7/2/1999 10:11:00 PM
From: Swami	Read Replies (2) \| Respond to of 62348

NCT.tse Keith, The market has, i think already discounted for a deal with CIT NOT going thru..hence the drop from $39 deal price to 19.20. Are you saying their results for the 2nd quarter will be worse than the 1st?. I think the current price reflects poor results in 1st quarter. The company is on record saying they will meet the 39 cent requirement for second quarter and then some. At 39 cent(US) a quarter the PE ratio works out to 8.3!!. Looks like we have here a market panic and overreaction to the 1st quarter and CIT deal. Even if the deal does not go thru @25-30 is a cheap price for a financial stock. I am told their 2nd quarter will have a surprise number on the positive side...Any way i have as per your recommendation stops on this stock.. Best Regards the Swami