Posts for Ticker ‘EDS’

SPAC Votes Coming (TTY, EDS, NAQ, CLA, EST, TCW)

SPACupdate.com has provided 24/7 Wall Street with some exclusive coverage on key issues coming up in the realm of special purpose acquisition companies.  2020 ChinaCap Acquirco (NASDAQ: TTY; NASDAQ: EDS) is on deck for its deal vote. NRDC Acquisition Co. (AMEX: NAQ) is adopting a REIT-strategy that differs from what was seen in Capitol Acquisition Co. (AMEX: CLA) or Enterprise Acquisition Co. (AMEX: EST).  Triplecrown Acquisition Co. (AMEX: TCW) also has a vote coming up.  More detailed information is provided below on each company.
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Posted on: October 19, 2009 – 9:40 am in Activist Investor, Mergers and Buy Outs, Private Equity, , , , , ,

Bracing for H-P Earnings: Did Its Dominance Peak? (HPQ, EDS, IBM, DELL)

Hp_logo_2Traders and investors alike are braced for the long awaited earnings out of Hewlett-Packard Co. (NYSE: HPQ) after today’s close.  First Call has estimates at $0.83 EPS on $27.41 Billion in revenues.  Estimates for the October quarter (also the year-end) are expected at $1.00 EPS on $30.22 Billion in revenues.  Please see below for the forward estimates of 2009 because of key developments and issues around the stock.

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Posted on: August 19, 2008 – 11:35 am in Earnings, PC Companies, Technology Companies, , , ,

Top Pre-Market Analyst Upgrades (ARO, AMGN, DPS, EDS, ENR, PCAR, PBR, RAH, SAP, URBN, V)

These are some of the analyst upgrades and positive calls we are seeing early this Tuesday morning:

  • Aeropostale (ARO) Started as Buy at Goldman Sachs.
  • Amgen (AMGN) Raised to Buy at Citigroup.
  • Dr. Pepper Snapple (DPS) Raised to Buy at UBS.
  • Electronic Data Systems (EDS) Raised to Neutral at Credit Suisse.
  • Energizer Holdings (ENR) Raised To Overweight at Morgan Stanley.
  • Paccar (PCAR) Started as Overweight at JPMorgan.
  • Petro Brasileiro-Petrobras- (PBR) Started as Overweight at HSBC.
  • Ralcorp (RAH) Raised to Buy at Lehman.
  • SAP AG ADR (SAP) Raised to Buy at Deutsche Bank.
  • Urban Outfitters (URBN) Started as Buy at Goldman Sachs.
  • Visa (V) Started as Buy at KeyBanc.

Jon C. Ogg
July 29, 2008

Posted on: July 29, 2008 – 6:26 am in Analyst Calls, , , , , , , , , , ,

Top 10 Pre-Market Analyst Upgrades (CCJ, EDS, GENZ, GU, QCOM, STLD, RIG, VRSN, WB, XNPT)

These are not all of the upgrades we have seen so far this morning, but here are ten of the top positive analyst calls we have seen so far early this Tuesday morning:

  • Cameco (NYSE: CCJ) raised to Outperform at FBR.
  • Electronic Data Systems (NYSE: EDS) Raised to Neutral from Sell at Goldman Sachs.
  • Genzyme (NASDAQ: GENZ) started as Buy at UBS.
  • Gushan Environmental (NYSE: GU) Raised to Buy at Piper Jaffray.
  • Qualcomm (NASDAQ: QCOM) Started as Buy at Citigroup.
  • Steel Dynamics (NASDAQ: STLD) Raised to Buy from Neutral at UBS.
  • Transocean (NYSE: RIG) Raised to Overweight from Neutral at JPMorgan.
  • VeriSign (NASSDAQ: VRSN) Raised to Outperform from Neutral at Baird.
  • Wachovia (NYSE: WB) Raised to Neutral from Underperform at Merrill Lynch.
  • XenoPort (NASDAQ: XNPT) Raised to Outperform from Market Perform at FBR.

Jon C. Ogg
July 9, 2008

Posted on: July 9, 2008 – 6:26 am in Analyst Calls, , , , , , , , , ,

Estimates Crept Up Ahead of Dell Earnings (DELL, HPQ, EDS)

After today’s close, we’ll get to see earnings out of Dell, Inc. (NASDAQ: DELL).  First Call shows that the computer giant’s earnings estimates have changed slightly since our post over the holiday weekend.  It now shows that estimates are $0.34 EPS on $15.68 Billion in revenues, both are slightly higher than over the weekend. 

Estimates for next quarter are still $0.34 EPS and are still $15.59 Billion in revenues, and estimates for fiscal January 2009 are up a penny to $1.51 EPS on a slightly higher $64.62 Billion in revenues.

Analysts have a price target average north of $25.00, which is lower than targets had been on previous reports.  The stock has performed poorly since topping out at over $30.00 last year, but the good news is that the stock has also come back rather well off its lows.  At $21.69, it is still in the lower-end of its 52-week trading range of $18.13 to $30.77.

Hewlett-Packard (NYSE: HPQ) has already given the "all-clear" sign and it has made a huge game changing offer to buy EDS (NYSE: EDS).  You have to wonder if things are going to stay status quo at Dell, or if the company would consider a game-changing deal.  The truth is that Dell could do a game-changing deal if it wants to.  But this is a huge unknown, and the company may want to get its entire restructuring plan more than half-way through before it would even consider such a plan.

Michael Dell has already greatly expanded its retail distribution channels to major retailers in the U.S. and abroad.  He’s also announced a restructuring and layoffs.  Dell also noted that it wasn’t to expand upon its company-owned store initiatives in comments yesterday.

Today we’ll also get to see how much cash the company has really used for its monster share buyback plan it previously announced.  If it bought a lot of stock, the slide abatement has only been seen in May.  That major slide started in November and didn’t end until last month.

Dell still has some problems, much of which may be tied to shareholder pressure to do more.  But if the company can maintain estimates or outperform on estimates it looks more than fairly priced for a value stock or for GARP investors.

As a reminder, Dell’s annual shareholder meeting is about six weeks away and scheduled for July 18, 2008.

Jon C. Ogg
May 29, 2008

Posted on: May 29, 2008 – 11:26 am in Earnings, PC Companies, , ,

A Dell (DELL) Buy-Out Of Sun (JAVA): Not Likely

There have been rumors that Dell (DELL) may feel it needs to do something with Sun (JAVA), now that Hewlett-Packard (HPQ) has cut a deal to buy EDS (EDS).

Dell may need to grow through M&A, but Sun will never be a target.

EDS helps build on a strength that HP was already expanding. Services are a large and growing portion of the HP revenue stream. In the last quarter, that operation brought in $4.4 billion of HP’s $28.8 billion in revenue. EDS augments that with another $5.5 billion to $6 billion a quarter. EDS runs an operating margin of about 6% on that.

Dell has a low-end server business and Sun markets more expensive servers. One of the troubles with buying out Sun is that companies are moving away from large and expensive servers and in the direction of the cheap servers marketed by Dell and HP. Sun’s products have become a part of a dying age of IT.

Sun also adds nothing to Dell’s operating income. The company only breaks even now, and revenue growth is at zero. Dell cannot take a lot of cost out of Sun. The operation is already cut to the bone.

Sun has enough trouble that it may not be an M&A target at all.

Douglas A. McIntyre

Posted on: May 29, 2008 – 9:12 am in Mergers and Buy Outs, , , ,

Dell To Dominate Tech Earnings (DELL, HPQ, EDS)

This coming Thursday after the close, we’ll get to see earnings out of Dell, Inc. (NASDAQ: DELL).  Unless others steal the show with unknown news, this should dominate much of the tech earnings on a shortened week.  Now that Hewlett-Packard (NYSE: HPQ) has already given the all clear sign and now that it has made a huge game-changing offer to buy EDS (NYSE: EDS), you have to wonder if things are going to stay status quo at Dell.

First Call has the computer giant posting earnings at $0.33 EPS on $15.66 Billion in revenues.  Estimates for next quarter are $0.34 EPS and $15.59 Billion, and estimates for fiscal January 2009 are $1.50 EPS on $64.58 Billion.

So the question looms…. as Dell started its share buyback and announced job cuts, would the company consider a transformational deal to challenge H-P?

Jon C. Ogg
May 25, 2008

Posted on: May 25, 2008 – 11:35 am in Earnings, PC Companies, , ,

Top 10 Pre-Market Analyst Calls (BRL, BE, EDS, HPQ, IRM, MHP, MCO, RSH, SNH, SNN, SOV)

These are not the only analyst calls this morning, but these are some of the impact calls we are seeing this Tuesday morning:

  • Barr Pharma (NYSE: BRL) raised to Outperform from Neutral at Cowen & Co.
  • Bearingpoint (NYSE: BE) Cut to Hold from Buy at Citigroup
  • Electronic Data Systems (NYSE: EDS) Cut to Sell from Hold at Citigroup; cut to Market Perform at FBR.
  • Hewlett-Packard Co. (NYSE: HPQ) was removed from the Goldman Sachs Conviction Buy List, although its BUY rating was maintained.
  • Iron Mountain (NYSE: IRM) Started as Neutral at Credit Suisse.
  • McGraw-Hill (NYSE: MHP) and Moody’s (NYSE: MCO) both started as Buy in new coverage at Jefferies.
  • RadioShack (NYSE: RSH) raised to Market Perform at RBC.
  • Senior Housing Properties (NYSE: SNH) Cut to Market Perform from Outperform at Raymond James.
  • Smith & Nephew (NYSE: SNN) Cut to Underweight from Neutral at JPMorgan.
  • Sovereign Bancorp (NYSE: SOV) Raised to Market Perform at FBR.

Jon C. Ogg
May 13, 2008

Posted on: May 13, 2008 – 6:40 am in Analyst Calls, , , , , , , , , , ,

Media Digest 5/13/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

According to Reuters, HP (HPQ) plans to buy EDS (EDS) to better compete with IBM (IBM).

Reuters writes that AIG (AIG) says it sees no reason to follow the request of its ex-CEO to the company’’s annual meeting.

Reuters writes that Staples (SPLS) has raised its hostile bid for Corporate Express.

Reuters reports that Nissan reported a large drop in earnings and said that the next year would be disappointing due to higher commodities prices and weak US market..

Reuters writes that Microsoft (MSFT) has launched WorldWide Telescope, free software for exploring outer space.

The Wall Street Journal writes that Dell (DELL) is trying to reinvenet its high end game computer business.

The Wall Street Journal writes that Exxon (XOM) management has asked investors to reject a move to have the company elect a separate chairman and CEO.

The Wall Street Journal writes that Beazer (BZH) will restate is results for nine years.

The Wall Street Journal reports that Merrill Lynch (MER) tried to convince investors that it has enough capital and will not have to raise money.

The Wall Street Journal reports that Clear Channel (CCU) is near a deal to complete its LBO.

The Wall Street Journal writes that Dish Network (DISH) is losing subscriber growth momentum.

The New York Times writes that Nissan will sell an electric car in the US by 2010.

The New York Times writes that Wachovia (WB) faces a inquiry over auction-rate securities.

The FT writes that UBS (UBS) sees further problems in the US housing business.

Bloomberg writes that Toyota (TM) will cut discounts on its Prius hybrid as the cost of gas rises

Douglas A McIntyre

Posted on: May 13, 2008 – 2:52 am in Press Digest, , , , , , , , , , , , , ,

Why Didn’t Dell (DELL) Buy EDS (EDS)?

Late word is that Hewlett-Packard (HPQ) plans to buy technology outsourcing company EDS (EDS) for something like $13 billion. Shares in EDS rose almost 28% on the rumor. HPQ has a market cap of $115 billion so the price for the acquisition is well within its reach.

The scuttlebutt is that owning EDS will better allow Hewlett-Packard to compete with IBM (IBM), which has driven much of its growth through services and software. The Hewlett-Packard financial statements for last quarter put the company’s services revenue at $4.4 billion up from $3.9 billion in 2007. That was against total revenue of $28.8 billion. EDS had revenue of just shy of $6 billion last year ($1.5 billion a quarter), so it makes a significant addition to the service sector at HPQ.

Owning EDS will round out part of the Hewlett-Packard business which is already successful. It does not add a operation. It enhances one.

If EDS is sold to HPQ, it will have been a lost opportunity for Dell (DELL) to enter a new part of the IT industry and diversify away from selling hardware. The core of Dell’s strength is PC and server sales to businesses but it has not augmented that with any significant outsourcing or consulting operation. Last year, in the US, Dell’s sales to businesses were almost five times the revenue it got from consumers. It is an ideal mix of customers to create and drive a services arm. 

It would not be hard to make the case that Dell needs EDS much more than Hewlett-Packard is. A purchase by Dell would have been more of a financial stretch, but Dell desperately needs stretching. It is not going anywhere with its current plans for digging out of a multi-year funk.

The EDS deal says more about Dell than it does Hewlett-Packard. Under CEO Mark Hurd, HPQ has been opportunistic and nimble. None of that can be said for Dell. The company has not challenged itself to move back to the growth rates it enjoyed in its hay day.

Saying anything more about Dell is just wasting words.

Douglas A. McIntyre

Posted on: May 12, 2008 – 5:23 pm in Mergers and Buy Outs, , ,

H-P Confirms EDS Talks, Who’s Next? (EDS, HPQ, ACN, CSC, ACS, PER, UIS, ACXM, BE)

As traders look to the news covering whether or not Electronic Data Systems Corporation (NYSE: EDS), there was a release from Hewlett-Packard Co. (NYSE: HPQ) that confirmed the two companies were engaged in merger talks but there were no assurances that a deal could be reached. As a result, there are many other tech and IT-sourcing companies to look at that other players may take an interest in.  Keep in mind that many of these large tech companies do not want to be involved in being acquired and some of the companies will have stronger takeover provisions.  Everyone of these companies are different, yet all are in overlapping areas.  Here is a handful of names that could fall under that sort of tie-up if the deal comes to pass:

  • Accenture Ltd. (NYSE: ACN), although maybe too large;
  • CA, Inc. (NYSE: CA);
  • Computer Sciences Corp. (NYSE: CSC);
  • Affiliated Computer Services, (NYSE: ACS);
  • Perot Systems Corp. (NYSE: PER);
  • Unisys Corp. (NYSE: UIS);
  • Acxiom Corp. (NASDAQ: ACXM);
  • Bearingpoint, Inc. (NYSE: BE)…..

If we took the mid-point of the pricing at $12.5 Billion we would have a rough share price of $25.00 per share on EDS.  At that rough price, you would have a company that analysts expect to be priced at 18.2 times DEC-2008 earnings and 0.55-times revenue estimates.

Any such deal for EDS would likely have to come in the form of a friendly buyout.  This company doesn’t protect itself as hard as other companies, but Capital IQ does note the following tools the company has:

  • Removal of directors only for cause;
  • Board can change size of members;
  • Advanced Notice for director nominations;
  • Move by 50% of shareholders to remove directors;
  • Board Indemnification;
  • Blank Check Preferred Stock.

EDS is seemingly involved in more aspects of IT outsourcing and consulting than it isn’t.  Because of the rate that IT-workers come and go inside the Indian IT-outsourcing companies and because of laws restricting total foreign ownership in India, we did not include the public Indian-IT operations in this report 

You can join our open email distribution list to hear about other mergers, IPO’s, spin-offs, secondary offerings, and other special situations.

Jon C. Ogg
May 12, 2008

Posted on: May 12, 2008 – 3:17 pm in Mergers and Buy Outs, Rumors, Technology Companies, , , , , , , , ,

Market Talk: H-P & EDS??? (HPQ, EDS)

If you thought big tech mergers were over, there may be another one brewing.  Be sure to focus on the term "may"" in that.  The WSJ has reported that Hewlett-Packard (NYSE: HPQ) is in advanced talks to acquire Electronic Data Systems Corporation (NYSE: EDS) for between $12 Billion and $13 Billion.  CNBC has just now covered this as well.

You can also sign up for our open email distribution list to see about other mergers, secondary offerings, IPO’s, break-ups, spin-offs, and more.

H-P is down 2% at $47.94 today, and its market cap is $118 Billion. EDS shares are trading up 25% now at $23.54 and its market cap after this pop is just under $12 Billion; its 52-week trading range is $15.71 to $29.13.

Stay tuned….

Jon C. Ogg
May 12, 2008

Posted on: May 12, 2008 – 2:10 pm in Mergers and Buy Outs, Rumors, Technology Companies, ,

Is Hewlett-Packard (HPQ) The Exception Or The Rule

Hewlett-Packard (NYSE: HPQ) turned in one of the best performances of the earnings season. Net income rose 38%. Revenue rose 13% to $28.5 billion. The computer company raised guidance and its shares moved up 5%.

HP is probably the best tech bell-weather in the US. It not only sells PCs and printers, it has a large software and server operation. It has tremendous businesses outside the US, especially in Asia.

Shipments from the company’s PC operations were up 27% in the quarter. That has to be good news for chip companies AMD (NYSE: AMD) and Intel (NASDAQ: INTC). Because HP is No.1 in global PC market share, it is also likely a boost for sales of Microsoft’s (NASDAQ: MSFT) Vista.

Growth in the company’s server business was up 11%. That should be a positive for IBM (NYSE: IBM) and Sun NASDAQ: (JAVA). Improvements in the company’s outsourcing business should be a signal that firms like EDS (NYSE: EDS) are doing well.

But, the news from HP begs a question. Is it doing well because of its size and better management, or does it simply show that the trend in tech spending is still strong. The turnaround at HP under CEO Mark Hurd cannot be matched by any other big company in the sector. There has certainly been no evidence that Dell (NASDAQ: DELL) has been helped by HP’s PC performance.

In the server sector, Sun is still extremely weak and its sales move up at about only 1% or 2% a quarter. EDS trades near a 52-week low. Wall St. is not seeing a recovery there.

Size matters. Part of HP’s success almost certainly comes from the scale of its business.

But, management may matter more  Just three years ago, HP was a mess and could not have posted these kind of numbers.

HP is an exception. It has the best management in its industry.

Douglas A. McIntyre

Posted on: February 20, 2008 – 6:19 am in PC Companies, , , , , , , ,

Cisco (CSCO) And EDS (EDS) Take Big Tech Down

Cisco (NASD: CSCO) and EDS (NYSE: EDS) have businesses which point different directions on a compass. But, it is the same compass. In one day, Cisco was able to show that large capex tech spending was slowing while EDS said that the consulting business aimed at data center out-sourcing was in the dumps.

To put a point on it, the whirlpool of falling tech earnings is pulling in almost every company in the sector. Reason did not prevail among those who hoped that large companies would continue to put money into next-generation upgrades of existing hardware and software. That puts the need for consulting services well out of consideration for most firms.

Cisco’s numbers probably point to a drop in the rate at which cable, telecom, and cellular providers are willing to upgrade their broadband networks. That is likely to cascade into slower sales for set-top, handset, and fiber vendors. It is a rolling snowball from Hell.

Cisco’s shares are down 30% over the last three months. Citigroup’s (NYSE: C) are down only 20%. Over that same period, EDS shares are down more than JP Morgan’s (NYSE: JPM).

Assuming that big tech stocks could fall more than big financial company shares in 2008 is not so far-fetched.

Douglas A. McIntyre

Posted on: February 7, 2008 – 5:34 am in Technology Companies, , , ,

Media Digest 2/7/2008 Reuters, WSJ, NYTimes, FT, Barron’s

Accorrding to Reuters, GM (NYSE: GM) will have half of its cars running on ethanol by 2012.

Reuters writes that Cisco (NASD: CSCO) gave a weak forecast, moving tech shares down.

Reuters writes that some investors think BHP Billiton (NYSE: BHP) will have to sweaten its bid for R Tinto (NYSE: RTP) again.

Reuters reports that Warren Bufferr thinks problems at US bank is "poetic justice".

The Wall Street Journal writes that Delta (NYSE:DAL) and Northwest (NYSE: NWA) are closer to a merger.

The Wall Street Journal writes that the credit crunch is beginning to hit the UK economy.

The Wall Street Journal reports that efforts to rescue MBIA (NYSE: MBI) will not prevent it from being downgraded by credit agencies.

The Wall Street Journal reports that Macy’s (NYSE: M) will cut 2,500 jobs.

The Wall Street Journal reports that Sony (NYSE: SNE) beat out rivals to be No.1 in US TV sales for the holiday period.

The Wall Street Journal writes that earnings at EDS (NYSE: EDS) were hurt by an outsourcing slump.

The Wall Street Journal says S&P will revamp its ratings system to monitor conflicts of interest.

The Wall Street Journal writes that the number of cellphone users worldwide will top non-users this year.

The New York Times writes that Wal-Mart (NYSE: WMT) will expand its in-store medical clinics.

The FT writes that Yahoo! (NASD: YHOO) says that a buy-out by Microsoft (NYSE: MSFT) is not its only option.

Douglas A. McIntyre

Posted on: February 7, 2008 – 4:02 am in Press Digest, , , , , , , , , , , , ,

What To Expect Ahead of VMware’s VMWORLD Conference

Even if VMware (NYSE:VMW) sees its stock go sideways or even if it gets soft from here, it has a long way to go before many would be able to say this was not a successful IPO.  The valuations are now just too high for the sector to longer have a focus in I.T.  This is also true regardless of the VMware stock conundrum we noted recently. If you haven’t read up on and learned much about virtualization, as an investor you should read up on it as the next ‘next thing’ in software and IT. If you look at the competitors that some existing partners (and owners) are invested in, you’ll really understand.

One week from today, and possible over the coming weekend, we should start seeing many more companies announce "Partnering with VMware" or "Supplying VMware" or "Strikes key partners for virtualization" and the like.  Next week from September 11 to September 13 is the VMWORLD 2007 Conference at the Moscone Center in San Francisco, and the roster is a Who’s Who in Techland.  There is also a Technology Day symposium ahead of it. 

Keynote speakers here will be from such tech heavyweights as John Chambers of Cisco Systems (CSCO), Patrick Gelsinger of Intel Corp. (INTC), and Hector Ruiz of Advanced Micro (AMD).  Other sponsors are major tech giants like Dell (DELL), H-P (HPQ), NEC, IBM (IBM), and of course the parent EMC (EMC).

Network Appliances (NTAP) is also a sponsor, and it already issued its press release to signal its involvement.

Some of the gold sponsors that are not quite as prominent are BEA Systems (BEAS), Brocade (BRCD), EDS (EDS), Emulex (ELX), Sun Microsystems (JAVA).  Further down the list of sponsors and exhibitors are BMC Software (BMC), Avocent (AVCT), CA (CA), Citrix Systems (CTXS) (which also recently made a virtualization buyout of XenSource), Novell (NOVL), Patni Computer Systems Ltd. (PTI), QLogic (QLGC), Microsoft (MSFT), Symantec (SYMC), and more.

What is interesting is that this virtualization conference includes almost all of VMware’s key competitors.  So they are not blocking out competitors, at least not this year.  For whatever it is worth, there are many overlaps out there in what would be deemed partners and competitors.  It has XenSource, Microsoft, Symantec, and others. 

It also sold out of sponsor and exhibitor opportunities some time ago.  Here is a full list of exhibitors.  It is probably safe to assume that many more virtualization partnerships will be coming ahead of, out of, and after this key industry event.

Stock Tickers: VMW, EMC, CSCO, INTC, AMD, DELL, HPQ, NTAP, IBM, BEAS, BRCD, EDS, ELX, JAVA, SUNW, BMC, AVCT, PTI, CA, CTXS, NOVL, QLGC, MSFT, SYMC

Jon C. Ogg
September 4, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he produces the 24/7 Wall St. Special Situation Investing Newsletter and he does not own securities in the companies he covers.

Posted on: September 4, 2007 – 12:24 pm in Software, , , , , , , , , , , , , , , , , , , , , , , ,

As Microsoft (MSFT) Sales Improve, Can A PC Rally Be Far Behind?

The Vista train may be pulling out of the station. After checking a number of software sales indicators, an analyst quoted in Barron’s says that Microsoft (MSFT) OS sales should handily exceed expectations in second half of the year.

Since Vista was first released in beta, Wall St. has harbored a "domino theory" about the effect that the new software will have on the broader tech industry. As sales of Vista begin to spike up, PC demand will rise sharply. Companies including Dell (DELL) and HP (HPQ) will benefit from the new unit shipments.

As the PC domino falls, the large chip-makers will begin to see improvement in their sales. Intel (INTC) and AMD (AMD) benefit within a quarter or two of Vista’s success.

After that, tech integration companies like EDS (EDS) and Accenture (ACN) will be called in to integrate Vista and Microsoft’s new server software throughout the tech infrastructure of large enterprises.

The Achilles heel in all of this is that rumors of improved Vista sales have been around since the beginning of the year. MSFT CEO Steve Ballmer threw cold water on the idea that the software was flying off the shelves. Analysts looking for a big short-term profit in the stock got burned.

Burned once, shame on me. After that, it’s all your fault.

Douglas A. McIntyre can be reached at douglasamcintyre@247wallst.com.

Posted on: July 3, 2007 – 4:52 am in Uncategorized, , , , , , ,