Cramer Diagnoses Quest Diagnostics (DGX)
Cramer’s last Fallen Angel on CNBC’s MAD MONEY tonight was Quest Diagnostics (DGX-NYSE). He owns it in his trust, for disclosure. He said that Quest losing Oxford’s business (Unitedhealth-UNH) took the stock down under $49.00 from over $53.00. The company…
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Cramer’s last Fallen Angel on CNBC’s MAD MONEY tonight was Quest Diagnostics (DGX-NYSE). He owns it in his trust, for disclosure. He said that Quest losing Oxford’s business (Unitedhealth-UNH) took the stock down under $49.00 from over $53.00. The company had already partially announced the news a month earlier if you looked at it (re-news). He isn’t minimizing the business loss, or so he says, because it was $400 million of their $6 Billion in total business. The company beat last week by $0.05 on EPS, but lowered guidance. He said it traded up $1.00 because the street is assuming it is conservative. He thinks it could earn $3.10 and they are low-balling estimates at $2.95. It closed at $52.25 and is now up at $52.90 in after-hours. J.P.Morgan just raised it and a broker luncheon on it last week was over-attended.
Jon C. Ogg
January 29, 2007
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
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A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
