profit down ten per cent

I am told Patersons are going to put out an amended buy recommendation downgrading the profit expectations by 10%. This amounts to a dividend of 60 cents per share as opposed to the expected 70 cents. They will also value the company as a Buy up to $15 or so per share as opposed to last weeks estimate of $16.53.

I think some of the traders and smaller investors will jump ship on monday and who ever the big buyer(s) were today will have a field day. Not withstanding the vagaries of the dow tonight.