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Strategies & Market Trends : Dave Gore's Trades That Make Sense -- Ignore unavailable to you. Want to Upgrade?

To: hotlinktuna who wrote (10861)	8/7/2002 4:24:28 PM
From: Dave Gore	Read Replies (1) \| Respond to of 16631

Here's the ACF earnings data --- really stable and growing. Will calmer heads prevail tomorrow? If I didn't know and just looked at the numbers, I would bet this was one of those boring financial stocks with a yearly high of $35 and low of $26. From Zacks/SI kevxml2a.infospace.com Quarter Ending 06/2002 - actual 1.06 vs 1.02 03/2002 - actual 1.02 vs .94 est 12/2001 - actual .91 vs ?? (.57 the prior year) 09/2001 - actual .88 vs. .88 est 06/2001 - actual .81 vs. 79 OK, I understand the concern about delinquencies going up a smidge, but if it will only affect bottom line earnings by 1% (or about 5 cents), then why is the stock down 26% today and 73% from recent highs? That's the really bizarre thing. **** Based on those concerns, J.P. Morgan lowered its rating on AmeriCredit to " market underperformer" from "market performer," according to a research report released Wednesday. J.P. Morgan also cut its fiscal 2003 earnings outlook to between $4.40 and $4.60 a share. Previously, the firm expected AmeriCredit to earn $4.45 to $4.65 a share in fiscal 2003. Deutsche Bank Securities Inc. and Goldman Sachs Group Inc. (GS) maintained their ratings on AmeriCredit, but also voiced concerns about those same issues. "The bankruptcy of rental companies and new 0% financing campaigns could dump automobile inventory on the market, while a weak economy could increase the number of claims," a Deutsche Bank research report stated. Deutsche Bank, which kept the company at "market perform," expects AmeriCredit to earn $4.52 a share in fiscal 2003.