Ticker Shock: Four Reasons Why Blockbuster Isn't a Must-See-Minyanville

Ticker Shock: Four Reasons Why Blockbuster Isn't a Must-See

Glenn Curtis May 15, 2009 9:20 am

Ticker Shock: Four Reasons Why Blockbuster Isn't a Must-See


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Las Vegas Sands (LVS):

The following line caught my eye in a Reuters article: “Las Vegas Sands Corp has hired Goldman Sachs (GS) to look at a potential Hong Kong listing for its Macau unit, a source familiar with the plan said on Friday.”

That could generate some excitement if it were to come to pass. But I'm not climbing aboard based on the news.

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1. If it happens, I’d like to hear a little more in the way of details.

2. Gaming is still a super tough business to be in these days.

3. Look at the run these guys had over the last 2 months.

Again, I’m still sitting this one out.

Abercrombie & Fitch (ANF):

Take a little look at the chain’s first-quarter earnings.

Let’s just say there were a few things I didn’t like.

1. It lost $0.31 a share. Analysts were looking for a loss of $0.14.

2. Its comp-store sales were off a pretty hefty 30%.

3. Per the release: “The gross profit rate for the quarter was 63.3%, 350 basis points lower than last year's first quarter.”

4. Its sales line was sucking some wind. It came in at about $612.1 million, well below the roughly $800.2 million it put up in the comparable period last year. It was also south of the approximately $616.5 million the Street had been expecting.

Although I’ll continue to browse its advertisements (just to a get a flavor for the current trends, of course, and not because of the models), but I just don’t have the motivation to dip in on the heels of this news.

Have a great day, and an even better weekend!

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Alejandro Telias

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05-15-2009, 8:05 am
Dear Glenn, Congratulations for your daughter. Do you find any stock cheapper than BBI. If the EPS 1Q 2009 was $0.19 and it's market price is about 1.-, the price earning is 1.31. Please let me know if there is any other barga Read More


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