AlphaNinja - I'm traveling, so posts will be light....Foreign markets down about a half percent, we'll see if the US follows suit.
China sells some treasuries to "show concern." We're only the world's reserve currency till we're not...
Governement overhaul of the finance sector leaving the ratings agencies untouched?
Autozone ( ABC) to continue buying back shares at these high levels?
Pier 1 (PIR) earns 32cents per share in the quarter! A 1.95 stock -->>>screaming buy? No not really:
The Company reported net income of $29 million, or $0.32 per share, for the first quarter, versus a net loss of $33 million, or $0.37 per share, for the same period last year. The operating results improved by $4 million to a loss of $27 million.
Below is how the operating loss turned into a gain. While they're not operating(day to day business results) profits, what a great example of a company reducing balance sheet debt by opportunistically buying it back at a discount.
As previously reported, during the first quarter, a foreign subsidiary of the Company entered into privately-negotiated agreements purchasing $79 million of the Company’s outstanding 6.375% convertible senior notes. The notes were acquired at a purchase price of $27 million, including accrued interest. As a result of this transaction, the Company has reduced its outstanding debt on a consolidated basis by $79 million. The Company reported a gain on this transaction of $48 million during the first quarter.