This post has little to nothing to do with an eCommerce periodical...but it's an interesting rant about the business world...
This Tuesday Jan. 16, my google finance feeds lead me to this report:
http://www.123jump.com/earnings-story/Commerce-Bancorp-Quarterly-Profit-Rises-68/20470/
Here is an exerpt:
"...a net income of $78.7 million, or 40 cents per share compared with the last-year net income of $46.9 million, or 26 cents per share. Revenue jumped 24% to $492.3 million. Excluding non-recurring charges in the year-ago quarter, net income grew 19%"
Sounds like GREEAT news...especially for someone like me, an owner of CBH stock as of 01/12/2007....Whoopeee...so how much did their stock go up?? 3%? 6%? 8%? Who knows? , i mean...a 68% raise in quarterly profit!
In all the stock value changed 8.3%....ummm....but in the NEGATIVE direction...
Why??
Well, according to Reuters, "federal regulators are investigating transactions involving the company, its officers and directors, and "related" parties." Additionally, "A cloud will remain over the stock for some time, at least until the results of the investigation are revealed"
Additionally, "Commerce said the probe by the Federal Reserve and the Office of the Comptroller of the Currency (OCC) "will include but not be limited to transactions with its officers, directors and related parties, including transactions involving bank premises."
So maybe I should be blaming greedy or unwise corporate execs more than anything. This kind of thing really screws over investors and consumers a like. It's just so frustrating! I have been researching/watching this company on-and-off for a few months now...projections have been steady, the sector has performed well, and I waited for what I felt was a good time/price point for the stock...all I've gotten so far is screwed! I am just hopinf that the investigation reveals no foul play so the stock will continue to grow...in the meantime I'll just have to be content with the 1.5% dividend yield....*sigh*
Subscribe to:
Post Comments (Atom)
2 comments:
Ive read this topic for some blogs. But I think this is more informative.
I agree. I just joined the JA Solar class action and I'm hoping one of the class action attorneys I talked to will take a case against another solar company as well.
I lost....well over $100,000 on the market, well over, thinking I was investing in solid emerging technologies. I listened to all the hype on CNBC while they chatted up the values of stocks. The government puts on a good show then reigns down the curtain and goes "well, that's all folks".
Why didn't the President freeze the bank accounts of these crooks? All he had to do was Presidential Order them into a freeze and lock down all their assets, while they figured out who exactly is behind this? Then just write a well-placed check and call it a bail out.
So I'm sitting here this morning, I can't afford to lose anymore. That's it. I'm going to recover this money, and that worries me even more. Now the vultures on Wall Street are going to sucker us all into some blind faith recovery that may or may not happen, and bleed us to death on the way back up.
Then they're all going to sit there and go "look you should have invested when it was low". I know that they are tracking the Stop Orders, and then when they get enough consensus on stop orders, they drop to the price of the stop order and go back up,. So now I'm afraid to place a stop order.
I had to sit here this morning and stare at the computer and do the sell orders by the nano-second.
So I don't want to do this every day for a year. I am going to put about $10,000 on about 5 man-eating dinosaurs that slug along a penny at a time and get a life. And you watch: The oil companies will drag the market to the bottom and sell gasoline for a dime. Swear.
Post a Comment