if fundamental analysis was only so easy ...if you want to reduce it to those three things... then why aren't you buying every share on the planet of microsoft they have 20 times as much cash...13 times the sales...buying back shares...21% return on equity vs. erts' 17%. when you think about it...they are similar in everyay except size...the difference? MSFT has been wallowing but so much buying will occur if it hits 22.50/23/23.5/24...ERTS has had an explosion but has now revised down to the same metrics. What does this say? ERTS is ready to go fallow and has been expended...the only good news they can release this year is that they will use the Cash to buy back shares, just like msft...b/c like msft, erts has too much market share and the DOJ will not clear any mergers...and neither will the french gov't or Credit Agricole (so ubisoft is out). this means...prepare to tread a sinking pool.
Bingo! Over 39MM shares traded yesterday told the story of bigs wanting out. Volume today is more than twice normal daily volume. A "floor" has been built today to let out some other big(s). Once they are out, the "floor" will drop to it's next level to do all over again. I'm not so sure I would want to be a buyer even after the re-valuation has occured. 2006 year-over-year earnings will be flat according to management. Why hold a position with flat earnings? They need to pull a rabbit out of their hat for 2006 to get the share price moving north again.
I really do wish you luck. Since I am a day trader, I only look for the moment. I covered at $56.00 about 3 or 4 minutes ago. I see that it has bounced back up. I hope that you make money with your investment. I am signing off of this board until another time. Perhaps when and if the opportunity presents itself, I will go long for the day only but I need to see strong momentum. Take care.