Tuesday, November 24, 2009

Intraday action

Stocks are all over the place today.  Currently the DJIA is down 44points, with losses heaviest in Boeing (BA), Hewlett Packard (HPQ) and JP Morgan(JPM).

Among gainers, Iowa Telecom is +24% on a $1.1billion buyout offer from Windstream (WIN).

Among losers, Barnes & Noble (BKS) offered VERY weak guidance for fiscal 2010 earnings ended April 2010.  An "all-in" bet on its digital strategy is driving up costs, thus the lowered guidance:

"Owing to the overwhelming customer demand for nookTM, the world’s most advanced eBook reader, the company is ramping up its production schedule, incurring higher production costs than originally anticipated and increasing future investments related to its digital strategy, including additional people, technology and in-store marketing support. In addition, the company expects that general retail traffic will remain challenged during the holiday selling season. As a result of the above factors, the company is lowering its full year earnings per share forecast to be in a range of $0.33 to $0.63, from its previous forecast of $0.59 to $0.89. Third quarter earnings per share are expected to be in a range of $1.30 to $1.50."



Copyright 2009 AlphaNinja

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