I can afford another 3 months of Shopping Queen's spending at your stores. Hopefully the Short Squeezers will come back with their free BernankeBux to this ticker and I can afford 6 months of Shopping Queen's spending. They don't know what their computers are buying and I will sell to them tomorrow.
I still have the trades on my screen and watched them as the CC progressed. There were a few quick small hits when she glossed over the projected margins and a few when the MS guy jumped on the margins issue at around 1930, a 20K hit at 1939, 10 minutes of 1K-10K sells, another 20K hit at 1952, mixed buy/sells until 1956, then 27K of staggered sells into the close. There were also 2 substantial buys during the CC. With the regular trading volume being incredibly heavy today with no movement in price, it looks like half of the brokerages guessed wrong while the other half knew that the first half would be wrong. The aftermarket trading was small compared with today's total volume.
Margins for Q1 will be down 14% from last year Q1, with operating margin of 10% vs. 23% last Q1, although revenues will be up about 25%. 2% due mobile development, 7% due to product development (IT, arranging contracts with Tier 2 & Tier 3 locations), and 5% due to higher sales & marketing staffing and costs). Noted that Q1 is usually the slow quarter mostly due to businesses not traveling during the Chinese New Year. I just listened to the CC; very long, many questions about competition with coupons and mobile development as well as package tour slowdown. Also stated that margin visibility for the full year was low...IMO not unusual for travel industry. Many, many questions about the margins for Q1 and the full year. They are simultaneously building into lower tier markets and mobile. The lower margins was introduced about 20 minutes into the CC but the sell off didn't start until about 40 minutes into the CC; I think after the Morgan Stanley (first questioner) jumped all over it.
IMO, if this were AMZN, PCLN, GOOG or CRM, it would be up 20% and the talking heads would be pounding the table applauding their aggressive positioning, but no joy for a China travel company.