Bummer! Europe is very red. Seems default hedge fund position is to go short (not VBA specifically, all stocks in general). Doesn't augur very well for tomorrow.
Have been going through the profit downgrade announcement and note that management went to great pains to explain that 20-40 m profit forecast was before tax and exceptional items:
Virgin Blue said today that the Group now estimates its
reported Net Profit before Tax and Exceptional Items for the 2010 financial year will be in the range of $20-40 million, compared to previous guidance of $80 million.
Anyone suspect there will be more skeletons lying in the "Exceptional items" line?
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