re: results... apparently, below expectations????
Various upgrades and media articles stated a 'great' profit result and the stock rallied from 10.70 to 11.35 in 2 days on Ruperts comments.
When they tell you the result before it is released, it usually becomes factored in. So the result itself is an anticlimax.
Bottom Line: ~ News doubled year ago results but the PE ratio is still 28. ~ US Economy is heading the way Germany has, even though the 'powers that be' continue to deny this
It is also interesting to note that advertising was up because Auto makers advertised heavily in last quarter and that General Motors was downgraded by bank of America last night which does not bode well for the future.
I am not willing to pay 28 x earnings for a coy with high exposure to a weak US economy. The rising AUD exaserbates the problem.
When the US public realises it is being misled all stocks will decline rapidly, there could even be panic selling in the next few weeks/months. The light volume of recent US sessions suggests less are willing to buy. This is confirmed by mutual fund redemptions in January.
