It will be a slow recovery with the overhang of home foreclosures, ...
The jobs number next Friday should be +300,000 the first time in 3 years. Best Buy had blow-out numbers with consumer spending ramping up -- along with TIF, KSS, etc. Also, Monster and Manpower report new job postings at 2.7 million.
Things are coming back, PAYX will be adding custormers, and the 3.8% dividend will give us a bunch more yield than from a sleeze-ball bank.
Remember, banks are holding $1.2 trillion in reserves compared to a historical level of $50 billion. So once bankers get out of the fetal position, stop sucking their thumbs, and start making loans the rebound will be dramatic.
A friend runs a tool & die operation with 300 customers. The number one reason his sales are not back to old levels is that the customers cannot get lines of credit to buy their inventory though they have the sales.
The banks caused the crisis, are continuing the crisis, and will lead us out -- so, watch the lending levels and PAYX will gain at the same rate.
Will beat estimates... top & bottom line... and provide solid guidance.
It will shoot up after hours and tomorrow.
The dip is being caused by those locking in profits now and wanting no part of an earnings report drama.
Likely they'll buy back in tomorrow