The DJIA started the day down about 230 points, at 9,835. Spanish bank worries and the ugly situation on the Korean peninsula are largely the reasons for the sell-off. Below are credit default swaps on South Korea, spiking on fears of a war with the North...
On the bright side, Autozone (AZO) reported a fantastic quarter. Earnings of $4.12 for their q3 came in 53cents higher than expected, and revenue beat by about $100million. The conference call is at 7am Pacific. Despite the impressive run for the shares, they now trade at just 12x this year's expected earnings. My estimates below are probably a bit conservative, as the company will likely spend a little less on capital expenditures than I've budgeted.
Copyright 2010 AlphaNinja
Tuesday, May 25, 2010
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