THREAD IS CLOSED!!! Ask Rande 6000+ USE NEW THREAD

Top 982. Jul 26, 2000 2:46 PM

» Rande - Abs of steel:

Abs of steel:

In the meantime, Goldman Sachs' influential chief strategist Abby Joseph Cohen said in a note to clients that share price action during the remainder of 2000 is likely to be less exciting, and more rewarding, than the first half.

"Fundamental corporate performance and asset values will drive portfolio returns," she said, adding that growth in the economy and personal consumption are decelerating toward more sustainable rates. Even so, Cohen said Goldman's estimate for 2000 S&P 500 operating earnings per share may be too low.

Meanwhile, Cohen rolled forward her 12-month price target for the S&P 500 to 1,650 for summer 2001. The price target for year-end 2000 is unchanged at 1,575.

(from CBSM)

-- posted by Rande

Top 983. Jul 26, 2000 2:50 PM

» Kirk - Abby's Numbers as of today:

Abby's Numbers as of today:


 DATE      S&P500
========   ======
07/26/00   1452
12/31/00   1575 +7.00% for 5+ months
07/26/01   1650 +13.6$ for 12 months

I can live with that!

-- posted by Kirk

Top 984. Jul 26, 2000 3:05 PM

» Wendell - After hours ticker

Rande, just wanted to know why a stock, JDSU for instance will go by on the after hrs ticker at say, $130 for several times and then every fourth or fifth time it comes up it will be at $135. Is someone getting the shaft at this price or just what am I missing? Thanks big guy

-- posted by Wendell

Top 985. Jul 26, 2000 3:08 PM

» Will_L - Kirk/Rande

Thanks for the update on MsCohen. Though I don't put a great deal of stock in any guesstimates as to performance, I think she has a pretty fair track record. I'm guessing she probably undershot the performance of the last few years with everyone else. It seemed each year the guru's would preface their estimates with "This year's gains won't be as robust as we have become used to"..... and then they were. smile

I think she may well be a little light in a soft landing scenario, thinking that though earnings will be less dramatically improved across the board, tech earnings will continue to be very good and investors will have a lot more confidence with the fed happy and quiet. Now if Brinker and company is right and the fed overdoes it and we go into a recession then of course Ms Cohen will have been too optimistic, but I admire her for "sticking" her figures out there for all to see--much like Battapaglia does. At least right or wrong they are willing to commit.

-- posted by Will_L

Top 986. Jul 26, 2000 3:54 PM

» Rande - Wendell,

Wendell,

Not sure what's going on there -- except that if caveat emptor ever applied (and it does), it especially applies in after-hours trading as it currently exists. I'm seeing that the stock closed just shy of 136 and is trading down close to 2 at a shade over 134 in after-hours.

-- posted by Rande

Top 987. Jul 26, 2000 6:09 PM

» Slick - Big R

Could you explain the "earnings dilution" that takes the EPS ( like LRCX today) from .55 to .45 cents? I'm still scratching my head up here in the NW. Thanks

Slick

-- posted by Slick

Top 988. Jul 26, 2000 6:19 PM

» KLR - JDSU (JDS UNIPHASE CORPORATION) was trading in "fast market" con

JDSU (JDS UNIPHASE CORPORATION) was trading in "fast market" conditions at the end of the regular session on 7/26/2000. The stock's bid and ask prices were locked (i.e. the bid and ask prices were the same) from 3:52 p.m. Eastern Time through the market close at 4:00 p.m.

Market and market-type orders entered during this time period will receive a Nothing Done report, as the security was trading in a locked market.

-- posted by KLR

Top 989. Jul 26, 2000 7:54 PM

» Mark_J - JDSU

Interesting. I just couldn't hold over 2 major events like earnings and SP500 addition. I just couldn't.

-- posted by Mark_J

Top 990. Jul 26, 2000 7:55 PM

» Rande - Slick,

Slick,

Not sure you want to hear the answer to your question, since I'm about to talk like an accountant (Danger...Danger, Will Robinson). "Primary Earnings Per Share" reflects operating performance for companies with complex capital structures. The numerator is net income available to shareholders and the demonator is the weighted-average common stock outstanding plus "common stcok equivalents." Primary earnings per share is shown on the face of the income statement for income before extraordinary items and net income. The actual calculation is as follows:

(Net Income - Preferred Dividends)/(Weighted Average Common Stock Outstanding + Common Stock Equivalents*) *Only if they have a dilutive effect on earnings per share of 3% or more.

"Fully Diluted Earnings Per Share" is the smallest figure that can be obtained by computing a common stock earnings per share that reflects the possible exercise of all convertible securities (sort of a "what if" calculation). It's based on a broader denominator that also includes those shares that may result from contingent issues of securities even though the securities are not all common stock equivalents. The equation would be as follows:

(Net Income - Preferred Dividends)/(WA Common Stock Outstanding + Common Stock Equivalents + Other Fully Diluted Securities)

Hope that helps.

-- posted by Rande