Good thing they held off! I do not think they will buy any shares just yet. Think they're waiting to see how this plays out. I will post the results of my call to IR tomorrow. Davenport you can kiss my grits.
IMO, they should buy shares now, and give some support to bring it over $5. I see ton of buyers on upside. I spent last 2 days on research with pro/cons. I see it heading higher. The new rules are still 2 yrs away, lot of time to act by any college. Obama is gone in the moment. I think hedges playing the game.
Friday's numbers were not a big miss. Secondly, the buyback was already approved in the beginning of August. The guidance was anything but stellar. One could say it was weak. But, just what if the BOD knew there wasn't going to be a big move up. What if they decided to give guidance that was overly conservative and let this punishing market do it's thing. They buy back on the cheap. Next Q beat expectations and in 90 days own all those shares, boosting the balance sheet significantly. Seems to be the way to play it over the course of only 3 months. Before I proceed, low float can make for very big swings, both ways.
The largest percentage drop in the last three yerars, excluding the most recent, was $18.25 to $6.45. It lost 65% over the period. Then April 30, not all that long, it closed at $11.35, up 75.9%. So............. should we all sweat this out, buy more, sell hoping to buy lower or go short tomorrow. I know what I'll be doing. http://finance.yahoo.com/q/hp?s=COCO&a=11&b=5&c=2007&d=00&e=23&f=2008&g=w $18.25