11.2 B $ backlog and a forward PE of under 12??? A buying opportunity like this doesn't always present itself so obviously. It seems to me that one or two large firms unwound their positions, which is the only logical reasoning for the temporary slaughter.
"in with both hands and feet"
Sentiment: Strong Buy
Item 4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review.
..., the following financial statements should no longer be relied upon: (i) the consolidated financial statements for the fiscal years ended December 31, 2012 and 2011; and (ii) the condensed consolidated financial statements for the fiscal quarters ended March 31, 2013 and 2012; June 30, 2013 and 2012; and September 30, 2012.....
It depends on the price of DVN. I am thinking it is at the most an $8.50 bump from the previous day closing price of 20.60. That implies 29-30 to me...at the most! . Just an educated guess.
This is a classic short covering rally. Their revenue growth is modest, especially when compared to estimates.
- This qtr revenue is 164 vs 159 est
- Next qtr revenue should be 171 vs 164 est
They did a solid job of controlling costs, which is why the nice earnings beat. But with modest growth, the current PPS would have you believe that invisible braces were made of gold.
The forward PE has fallen to 11 due to the price plunge this morning. SCSS is not a drug company with a failed study. It is a brick and mortar business with real earnings.
SCSS is a screaming buy under $20.
Sentiment: Strong Buy
Well, when investors don't like a stock....SCSS revenue miss is 10% and their forecast EPS is also a 10% miss. The stock should get punished. But more than 20% ?? PE is attractive at news levels this morning.
Not the I can remember. Oh, ok there was one time within the last year that it went. But down in AH after earnings is its recent MO.
The extent of the AH move is irrational. They are still making money, albeit less. Prior to today, PE was 18.9 and forward PE was 14. Both of these will drop further. But the AH plunge is excessive. A 15-20% drop is more appropriate and that is a huge drop.
Shorts have to be disappointed and concerned. There has not been a spike or dead cat bounce. Both are usually signs that a reversal downward is near.
Instead, the price has been flat to steady upward. Not the kind of action that supports the shorts arguments.
Wow, glad I got out. I didn't expect a secondary that low. There had to be insider trading here. Why else would this have dropped so close to the secondary today, if someone didn't know the secondary price a few days ago when this started to plunge.
Go away ambulance chaser
AND if it doesn't close at the low of the day...?