WKRB13 reported data from Analysts Rating Network that analyst's average EPS estimate for this quarter was 2.11 when every other source I could find said 1.11. The WKRB article said ALK missed estimates by .98 per share and I suspect that was the reason for the sell off. I loaded up at the end of the day with shares and options and am hoping to make a couple K tomorrow.
ALK earnings were not misreported and ALK is NOT going to 25 35 or even 40. I checked the earnings this morning within the first hour of the market opening. Earnings of 1.13 BEATING estimates by .02 cents. ALK was down .50 to .70 cents the first hour after they were reported. Throughout the day the airline sector started to fall. ALK hit the hardest probably due to the 50 day/ 200 day moving average and it being near the 52 week high. Malaysian news is also hurting the sector. Regardless of the reason, I think 45 is a good entry point into ALK and it could be heading back to 50 within the next 6 months not anymore falling. I would not be shorting with those earnings and signs of growth. Too risky.