BAL has been out of stock at a large number of its retail...

BAL has been out of stock at a large number of its retail outlets. Why would they be out heavily promoting it right now? As supply ramps up over the balance of this calendar year BAL will increase promotional activity.

I've said this before but clearly BAL beat the numbers as consensus analyst estimates for earnings were upgraded post the 1H16 result.

If there was one area of disappointment it was for guidance for flat margins in 2H. Time will tell, but I'm comfortable that BAL was being conservative with that guidance given the 20% price hike in November, and that the company will be able to upgrade guidance by June.

But this does require some patience. Between now and then the share price will continue to fluctuate.