Markets were strong all over...all indices are moving higher & higher......
All three indices are in the process of challenging july highs.....
Friday is the last day for end of month & end of Q window dressing .....
Chinese junior stocks are on fire .....KONG was the superstar on imroving fundamentals for their sector which includes HRAY,LTON & SINA.......
FMCN reported AH.......
FMCN beat Q2 by 3 or 4 cents depending on Reuters or Zacks/YHOO....also reported higher revenues........
Guiding much higher revenues and projecting 1 cent less EPS on much higher share count.....this was the reason for AH weakness.
FMCN CC starts @ 9PM EST....then they will be able to restate why the higher share count in Q3.....
FMCN lifted FY 07 revenue by $50 million higher to $440 to $450 million vs $390 to $400 million consensus.....this is a good thing.......
FMCN is projected "much higher internet Ad revenue vs consensus"...
I will not worry about any pullback..as it will be very temporary as we look beyond Q3....looks like Q4 will be a blowout......
FMCN could also be playing old wall street game of "lowballing for Q3...as learned from AAPL"
Analyst should be ready to move FMCN stock higher once they factor AH selloff.......almost 1.4 million shares were traded AH by 6.53PM...
FMCN trading @ 7.22 PM Bid $57.82 Ask $58.25......which is further down 90 Cents for a total of Down $1.80...from yesterday's close.......this will be the first down day in a while !!!!
In my portfolio....
NVT UP $1.07.....
FMCN Down 90 Cents...
WFR UP 52 Cents.....
SNDK is alive UP $1.21.....
NMX UP $3.27.....rumour of buyout was alive since Noon $$$$$
CMED UP 65 Cents.......
CBAK UP $1.45....tommorrow should very interesting..as sellers were taking profit..which was absorbed whole day......on very heavy volume of 30.1 million shares almost double of yesterday's record 16+ million shares......
SDTH UP 12 Cents......
Good luck for friday the 28th.................
BLOG does not give buy or sell.
Saleem
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