Bogus downgrade by Pacific Crest today. They cite that "sales reps are scrambling to close orders in what appears to be a very back-end-loaded-quarter". News flash: this is what sales reps ALWAYS do at the end of the quarter. And is it just coincidence that they should single out EMC on the day before x-div.? Buy today and reduce cost basis by .115 on Monday.
jrad52 - Thanks for the clarification. It was reported as indirect on Yahoo finance but I guess it could be considered direct. At any rate, it would appear that it was just internal shuffling of shares within the family domain. Like you say, not a big deal. People have to calm down.
All inherited wealth. But like I said, it was an indirect purchase and it is possible that her shares were acquired at a significant discount. A direct purchase, however, would give me pause.
Don't read too much into this. It was indirect. $50M is nothing to her, she is worth billions.
I suggest that you enroll in a Finance 101 course and pay very close attention when they teach you about capital structure. Then you might have a clue. Or just wait until EXC totally eliminates the dividend then buy. Hope this helps!
Hey pal, it's debt/equity that you want to look at and EXC has one of the lowest ratios of all the majors. Check out AEP, SO, DUK etc. Utilities typically have large debt/equity due to their steady earnings stream. With regard to your German "greens", the poor people of that country pay some of the highest energy rates of any country in the world.
Now we have Citi piling on desperate not to be left out of the party. Don't be fooled by the illusion. What we are seeing is a transfer of wealth from retail sellers (small pikers) to wholesale buyers (MMs).
J.P. Morgan softened up the mkt. yesterday so they could bring in their big clients today. Old trick that nobody pulls off better than Goldman although JPM seems to be catching on. Yesterday's downgrade was a sure buy signal.
Back in the 70s everyone wanted govt. action to lower energy prices. Now they want govt. action to raise prices. Go figure.