Big selling was internal not individual investors
panic. Besides most people know what Syy does and I find
the report hard to be held responsible for 2 pts. I
think planned sells were a lot more than expected and
the market lost a lot this week. Syy not the only
great stock to lose over 1pt in 24 hr. It will rebound
very soon always does. Also, this probably due to
concerns over chapter 11
protection to the large
healthcare chain that Syy was servicing and Wendy's deal
seems to have been rumored to have problems. SYGMA
closing Atlanta branch that serviced only
a steakhouse chain. Rumored loss of Wendy's
business don't know who let who go or even if it is
entirely true. Do know steakhouse chain was told they were
more than likely losing Wendy's and could not service
then and the account went to a competitor USFS or PYA.
I think USFS.
There was a map of locations for Freshpoint & Sysco pinted in the July 17,2000 "The Packer" newspaper. There seems to be pretty coverage of East & West coast sites so immediate benefits look good.
Someone just wanted to cash out. Probably a
senior executive who cashed in some options.
seen this before. Itll spring back within a few days.
A 19% increase in profits and 10% increase in sales
is strong. This baby will be in the mid forties
before you can say
anytrhing. Why anybody would sell
afte these kind of numbers is beyond me unless they
needed some cash. Im not at all worried.
I realize $2 is nothing, but SYY rarely moves
more than that, and volume was above average. Was it
because of earnings yesterday? I thought they were pretty
impressive. Is it because of the FRES deal?