Sunday, April 12, 2009

Earnings Week of 4/13

Here's the week's earnings spreadsheet:

Spreadsheet Link

Monday Update: Welcome Evil Speculator visitors. Someone over there linked to this entry and all of a sudden site traffic is up. Anyhow, to read a bit of background about the spreadsheet and what it is and isn't as well as a bit of history, go here: Earnings Spreadsheet Explanation. This is a weekly thing, posted some time on Sunday (And lately, the only thing that gets posted regularly.) You can click on the dated tabs in the window above to see the different days. Here's the rest of the original post:

Quick look at last week: AA gapped up, faded and then gapped up again the next session. I'd call this a negative because unless you had considerable confidence to fade that initial spike, you'd have taken a loss. However, the vertical spreads on BBBY were a great play as it gapped up about 18% and continued upward. Keep an eye out for these "survival of the fittest" plays like BBY/CC and BBBY/LNT. FDO also did quite well and JOSB did get above that resistance and then bolted. So all in all, not a bad week in retrospect.

Unfortunately, I am tardy getting this update out as I had those dreaded "real life" committments to attend to this easter weekend. This is also going to curtail my standard commentary. Fortunately, there were no releases that made it through the filter for Monday so that's kind of helpful. I'd say that I'd like to post a mid-week update but my posting frequency as of late has been dismal so I'll not make an unlikely promise. Instead here's a brief overview of what's to come...

1st - This is an op-ex week.

2nd - The "Golden Boys" of finance - JPM and GS announce earnings. (Disclosure: long JPM shares, covered calls). I've often noted the ridiculousness of financial earnings likening them to kabuki theatre. WFC's out-of-the-park announcement last week should help people realize that when you get to borrow money from someone at nearly zero rates, then lend them the same money at 4.5% and charge them a fee to make the loan, that to recover, all you need is time. Consider also that GS is considering an equity offering to pay off TARP. Having long ago passed into bizarre-o world, the potential dilution from Warren B's warants and another offering in the works means that GS will likely go to the Moon.

3rd - Faux-financial GE is Friday. GE recently lost its AAA rating from Moody's (BRK lost it a few days later, leaving on 4 companies left with AAA).

Check over the spreadsheet, there are a number of big names on there. Tuesday has INTC, JNJ and GS. Wednesday has ABT, and a key semiconductor equipment supplier ASML. (Yes, finally a mention of a player in that sector.) Thursday has several biotech names (AMLN, BIIB, VRTX) along with GOOG, JPM, NOK. I'll throw ISRG a mention as well since it has often been volatile. Friday rounds out the week with GE and MAT.

That's it for this week. Surprisingly, short interest is higher than I would have expected though that could just be an artifact of Yahoo delays in data reporting. Who knows - at least their sites worked this week.