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Pep Boys - Manny, Moe & Jack Message Board

  • daninfw04 daninfw04 Jun 8, 2009 9:22 PM Flag


    Looks like tomorrow will open big but I must say that I was personally disappointed. If you back out the $6.2 million gain from bonds bought at 63 cents on the dollar, they earned 9 cents versus 7 cents expect. There was one analyst that projected 11 cents and he won't be happy tomorrow. They could have bought bonds back 3-5 months ago as I suggested then at 35-50 cents on the dollar. At least they did it now. Wall Street does like to see reduction in debt. The $6.2 million gain and reduction in debt will also save $465,000 a year in future interest expense....almost one cent a share. The million dollar question is "How have sales been the first 5 weeks of THIS quarter?" Anyone interested can go back and look at my older postings but earnings should have been well over 20 cents with no bond repurchaes. O'Dell as I said lied about expense reductions of $20 million a year or $5 million a quarter. That alone is 10 cents a quarter and they only made 9 cents.....They made a penny last year net operating. This company continues to be the poorest run autoparts or service company that is a publicly traded company. Having said all that, all the overpaid analysts will be jumping on board tomorrow, EPS projections will be raised for the next quarter and full year, we wil get a few upgrades, shorts are going to be burned alive.....we will all be happy....and management and COB will continue to be overpaid for poor performance. I know a dozen guys that could run this company and get $1.50-$2.00 a share in earnings within 2 years. DaninFW

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    • THINKING BIG, next time the big guys or vps visit the stores and try to impress the poor people who run the stores, the ones that put money in your pockets. Remember it is not clean shelves or neat stores that make the money it is the service that these poor Guys provide while under staffed that make it happened. Not the people who write emails every hour. LETS KEEP ON TRUCKIN, DO IT TOGETHER.....

    • Dan, I enjoy your commentary regarding PBY, but what do you see this stock doing tomorrow at open, then about an hour after the market opens? I see the stock has a short interest around 7.5%, but will this report make them cover fast in a panic? I have a decent sized strangle position on the July 10/5. Thanks.