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I'm a (for now anonymous) manager of a long-short fund which is not open to external investors. I have extensive experience on Wall Street and in the technology industry. I look for strong trends and reasonable valuations (GARP?), particularly in the technology and media sectors. Recently, for... More
  • Is This What Earnings Season Will Look Like? 0 comments
    Apr 7, 2009 07:46 AM | about stocks: HWD, SPY, IWM

    From an earnings call a few days ago -- is this what earnings season will look like next week?

    "The significant adverse changes in the global economy that began in the third quarter of fiscal 2009 accelerated at an unprecedented pace so that by the fourth quarter conditions in the rough diamond and luxury retail industries were the worst in decades.

    The company’s consolidated sales decreased 37% and earnings from operations were down 83% for the fourth quarter this year compared to the comparable quarter of the prior year.
     
    For the quarter, we reported a net loss of $73.0 million, or $1.19 per share, compared to net earnings of $90.4 million, or $1.55 per share, in the fourth quarter last year."
     
    Themes: luxury, recession Stocks: HWD, SPY, IWM
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