to follow up on post #32, which fell on dumb ears;
approximately two weeks before the last earnings were released, several financial services including Yahoo's research reflected earnings forcasts which were in error.
for the quarter ending 5/98, one of the five forecast was way out of line at $.38......which resulted in a negative earnings release that never should have happened.......which resulted in a 'cold shower' for our stock.
in addition, for the upcoming quarter ending 8/98, one of the five forecast was also way out of line at $.58........which resulted in moving next quaters expected earnings up to $.42.......which would kill our stock just like March 1997
I contacted Sonic shareholder & financial personnel and they were unaware of these forecasts, which they agreed were in error, .......they also stated they never check the web for accuracy
so, they will never see this.......maybe one of my fellow stockholders will call and express your concern also....... I certainly will at the next shareholders meeting, if I continue to care about Sonic that long
I'd be happy to make a few contacts to boost the stock, especially since a cent or two below prediction is the same as a stake through the heart these days. But the problem is two fold.
One, who do you suggest that we contact?
Two, would a revised earnings report at this point do more harm than good? Do you thing that the Web earnings forecast were responsible for substantial buying or could cause substantial selling once the erroneous poor performance is discovered and reported?
Looks like a "catch 22" at this point. Fortunately, the institutions will (hopefully) realize this error and it will not dramatically affect the stock.
you're right....at this point, it's too late, SONC down $3.00 since earnings release....this stock is dead until we near the 8/98 quarter
I'm not blaming the web for earnings forecasts errors, it's only the messenger.....I hold Sonic management responsible for being less than diligent for not alerting Zacks and First Call to the errors.....so, I'd suggest contacting several financial officers of Sonic.....someone or some department is wasting a lot of good business operations