Ticker Shock: Apollo Group Looking Smart; Coach, Best Buy Still Faltering
Friday's top stories and stocks with potential to move.
I think I got spoiled by the holidays. Seriously, I'm dying for a day off. Anyone else with me?
One more quick thing, before getting down to business: Did you see the news that Bernie Madoff may have mailed jewelry to friends and relatives?
My take: Cut him some slack on this one. He's only doing what we are all taught: Protect the family jewels.
Okay, I'm kidding.
Anyway, Asian markets ended slightly in the red. The Hang Seng and the Nikkei were both down less than 1%. European markets were in the red this morning as well. And here in the US, we're currently trading lower.
Apparently, its second quarter may not be in the bag: The company indicated it's looking to earn $0.67 per share in its second fiscal quarter.
The issue: That's a dime lower than the $0.77 per share it offered in conjunction with its first-quarter results.
Analysts were at $0.74.
My eyes then drifted to this paragraph: "Given the uncertain environment, the company will not provide earnings per share guidance for the second half or full year fiscal 2009. However, management will provide additional commentary on its current performance and outlook during its upcoming earnings conference call."
All in all, not great news. However, I have to say I'm reluctant to give up on Coach entirely. Seriously, it remains, I think, a winner - at least as far as many in the fairer sex are concerned. And in the latter part of the year, there was a flurry of insider activity.
Apollo Group (APOL)
It looks like school is in session. The Arizona-based educational services provider offered up its first-quarter results.
It put up $1.12 a share, which was a country mile north of the &0.98 per share the Street was looking for - and its revenue line came in at about $971 million, whereas analysts were apparently looking for it to post 912 million and change.
Overall, I see this as good news, and I have this hunch the stock will close in the green in today's session. However, I'm reluctant to chase it too high in this market, for fear that profit-taking could hurt me.
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