Quote:
|
Originally Posted by Robin
Yup, I got some BestBuy - they came in at 28c a share earnings instead of the predicted 30c - but not justification for a mighty $6 fall! - I think BestBuy is huge, selling 10s of billions of dollars worth of stock each year. If we're right that earnings report has given us an early christmas present which we'll cash in in January 
ConocoPhillips is interesting. I'm not so sure about it. When they announced last quarter's earnings I made a load then by buying when the shares fell through the floor and selling two days later. But now they are going to spend $35 billion buying Burlington resources to get hold of their natural gas. The shareholders are mostly pissed off - they wanted a stock buy back instead to increase share price. So I haven't bought back into COP yet - I'm watching it though to see if the Burlington purchase pays off. |
Yes, but it was a smart move. The money is better off being invested to increase capacity than to do a share buyback. The company has such strong fundamentals also. Oil and natural gas problems aren't going anywhere soon, Natural Gas futures hit a new HIGH today, and they are aiming to increase capacity, gotta love that.