Wednesday, February 17, 2010

Intra-day action (SIRO, GSIC, MDCO, BW, WINN, WFMI)

US indexes are up about 1/3rd of a percent each with a little over two hours left in the trading day.

Impressive earnings reports from grocers (Whole Paycheck Foods and Winn Dixie) and Brush Engineered Materials (BW) dominate the gainers.

Among the losers are Sirona Dental (SIRO) and GSI Commerce (GSIC), both of whom announced BIG secondary stock offerings from existing shareholders... meaning the company will see no money from the share sales.

Also among the losers is pharmaceutical firm The Medicines Company (MDCO), who reported a SLEW of charges to earnings, totaling about $79million for the quarter.  Though the charges are mostly non-cash, that's a sizable number when the market value of your entire company is $370million dollars.  Some of these charges (milestone payments for previous acquisition for example) should be of no surprise to investors, but i think the magnitude of these charges is resulting in a "come ON, guys" reaction...

Copyright 2010 AlphaNinja

No comments:

Post a Comment