at CHK.... brutal, brutal, day for that stock.
Not so brutal, pretty normal these days and that is why I believe in booking profits along the way; CHK was $17+ on Monday/$20.4 yesterday and closed at $16.74 today.
A cut to neutral gave it a 14.5% hair-cut!
“Simplicity is the ultimate sophistication.”
Bought 100 MT @ $16.86
Bought 100 G.TO @ $36.80
Have a great day, CMF'ers.
CHK @16.9 yesterday.
Don't try and Time the Market.......and Don't Buy High and Sell Low.
Farcical!
BODY's report is inline with estimate but price dropped 30% in the after hours.
Might pick up some tomorrow.
Looks like lower future outlook and decreasing sales. Plus, they closed two stores to open up 4 in other locations. It doesn't look that healthy. I mean, they fully said in plain English they expect sales to drop 5-7% in the next quarter.
Outlook
For the second quarter of fiscal 2012, the Company expects net revenues in the range of $80 million to $82 million, comparable sales to decrease in a range of 5 to 7 percent and diluted earnings per share in the range of $0.26 to $0.28, based on diluted weighted-average shares outstanding of 16.4 million.
For the full fiscal year, the Company now expects net revenues in the range of $333 million to $337 million, comparable sales to decrease in a range of 1 to 3 percent and diluted earnings per share in the range of $1.34 to $1.38, based on diluted weighted-average shares outstanding of 16.4 million.