This is simply wonderful PR from a company that watched as it price was eroding for no reason. To stem the tide and let everyone know that things were ok, they pre announce. Just good business. This stock is going back to 29-30 range due to impending dividend increase to $2.20. Next year the dive could reach $2.40. That's a great dividend and growth stock.
ONLY reason for drop is people are moving some of their "safe" money over to high risk NASDAQ stocks now that they think, and I agree, that the bottom has occurred. Nothing against EPD. Earnings 10/30/00 should be good. Analysts revised their expectations upward by ~7% 7 days ago. Dividend is very nice, no matter how greedy anyone may have gotten for higher ones. Energy still a good bet especially with cold winter coming, Jews Vs. Arabs, etc. Also, analysts increased their rating of EPD this month. Probably profit taking going on. Some selling of losers, some selling of winners (EPD) to lock in the profits. Then buy up incredibly unjustifiably beaten up stocks, like Alpha Industries (AHAA) MSFT, YHOO, RHAT, JDSU, CYTO, MNMD.
I really doubt it. I think the bump up was a sucker rally. We have not come close to a bottom with valuations still as high as they are. IMO we will most likely see the Nasdaq below 3K before long and it will stay there for quite a while. The end of the decline will come with a blow off on NYSE while the Nasdaq wallows around 2700. Most likey will happen early next year. Of coarse, your opinion is as good as mine or anyone else in this regard. I do agree on this stock. Buy it and hold as it will be a very long time before we see the kind of lows we saw on oil and gas last year.
You're right. That's why I am going to add to my position in this stock. I like what they are doing, the business they're in, and the sweet dividend. People are rotating back into techs right now, which gives us a chance to add to this one.