Seeking Alpha

Transcripts&10-K's

Transcripts&10-K's
Send Message
View as an RSS Feed
View Transcripts&10-K's' Comments BY TICKER:
Latest  |  Highest rated
  • Weight Watchers: Early Traction To Turnaround Strategy But Still Too Much Risk [View article]
    2010 Census data showed there are roughly 35 million women in the U.S. between the ages of 40 and 55; for a company with 2.8 million active subscribers globally, there's plenty of opportunity to continue serving a demographic that has been their core consumer for many decades.
    Aug 31, 2015. 01:24 PM | 1 Like Like |Link to Comment
  • Google up over 4% as Goldman upgrades, markets rally [View news story]
    "SA is doing the right thing in following the standard. Doing anything else would cross the line from reporting into giving analysis and opinion, which presumably is the job of the Contributors."

    It's not analysis or opinion - it's a statement of fact. Either the results are reported as expected (GAAP), in which case there's no need to say anything, or they're not.

    I'm not asking SA or anybody else to take FASB's role; I'm asking for the appropriate disclosure when results are adjusted (which only requires adding "non-GAAP"). When you're talking about billions of dollars in expenses (as is the case at Google), this isn't a trivial matter.
    Aug 26, 2015. 01:45 PM | Likes Like |Link to Comment
  • Google up over 4% as Goldman upgrades, markets rally [View news story]
    Yeah, and that's really the problem (IMO): everybody in the financial press (as far as I can tell) follows that practice - Seeking Alpha, Barron's, etc.

    As a reader, I wonder if sites like SA should take it upon themselves to be responsible for informing their readers in the same way a good news reporter would / should. I would think doing so would enhance your credibility, and would require limited effort to implement (I could be wrong).

    I'll leave it here Eric; thanks for responding.
    Aug 26, 2015. 01:23 PM | Likes Like |Link to Comment
  • Google up over 4% as Goldman upgrades, markets rally [View news story]
    That makes sense Eric, but I would assume posting both would be an arduous task; I would assume that it would be easier for SA to simply indicate when they refer to non-GAAP results. It's assumed that any results which do not come with this disclosure are "GAAP" - which as you noted above, is not true here.

    I think you guys have a responsibility to do one or the other; I say that as a happy user of SA who uses your site to stay well informed.

    That's just my two cents. Others may disagree.
    Aug 26, 2015. 12:28 PM | Likes Like |Link to Comment
  • Google up over 4% as Goldman upgrades, markets rally [View news story]
    I don't see any issue with stating results are non-GAAP for Microsoft (or anybody else) when they have sizable one time items (like impairment charges); clearly that makes sense. And I have no issue with doing the same for Google on stock based comp if that's what SA decides to do (even though few of their peers do the same) - as long as it's disclosed.

    There's a big difference between Microsoft reporting non-GAAP results for the Nokia write-down and Google's use of non-GAAP earnings every single quarter, year after year after year. To suggest otherwise is disingenuous.
    Aug 26, 2015. 12:12 PM | 1 Like Like |Link to Comment
  • Google up over 4% as Goldman upgrades, markets rally [View news story]
    Understood Eric. Friendly suggestion to SA: please disclose when numbers being reported are non-GAAP; readers should know when companies are toying with the numbers (particularly when we're talking about many billions of dollars, as is the case at Google).
    Aug 26, 2015. 11:27 AM | 1 Like Like |Link to Comment
  • Google up over 4% as Goldman upgrades, markets rally [View news story]
    "The Class A and C shares respectively go for 19x and 18x 2016E EPS."

    Is that based on real on non-GAAP earnings? I would assume with no disclosure to suggest otherwise that this is GAAP, but considering it's Google I figured this is worth asking. Thanks!
    Aug 26, 2015. 10:58 AM | 2 Likes Like |Link to Comment
  • Amazon expands Prime Now to U.S. alcohol [View news story]
    No drones here? What a shame...

    I wonder what the profitability looks like on the delivery of a twelve pack of beer in a two hour window for "free" assuming prices are anywhere near what you would find at your local grocery store / gas station...

    Maybe they'll solve this with dynamic pricing; it doesn't work too well for customer loyalty (people hate being ripped off, as you can see at this link), but we can deal with that later:

    http://amzn.to/1KhKVmv
    Aug 26, 2015. 09:58 AM | 1 Like Like |Link to Comment
  • Amazon expands Prime Now to U.S. alcohol [View news story]
    Fake ID's, drunk college kids and drone delivery - what could possibly go wrong?
    Aug 26, 2015. 09:02 AM | 3 Likes Like |Link to Comment
  • It Was Just A Correction: Take Advantage [View article]
    At UA, sales and profits roughly doubled from 2011 to 2014; the stock, on the other hand, is up more than 4x over the same period. The forward P/E is closer to triple digits than it is to single digits.

    It's going to take a lot more than a move from $100 to $90 for a stock like UA to actually be cheap; I think you'll find the same is true for plenty of other names in this market.

    We'll find out in the coming months & years, not days...
    Aug 25, 2015. 08:28 AM | 1 Like Like |Link to Comment
  • Chevron upgraded, ConocoPhillips new top sector pick at BofA Merrilll [View news story]
    You can tell there's a lot of fear in an industry when a name that's projected to have nearly 40% upside by an analyst - without considering a more than 5% dividend yield - is only good enough for "Neutral" from that same analyst...
    Aug 24, 2015. 03:53 PM | 11 Likes Like |Link to Comment
  • IBM: Is There A Margin Of Safety At Current Levels? [View article]
    By the way, IBM had ~380,000 employees at year end 2014, down from ~431,000 at the end of 2013. If you exclude the impact of divestitures (~35,000), the number of employees has declined by less than 1% a year over the previous five years.

    Here's a recommendation for your next article Cringley: "IBM Employee Count Down By Less Than 1% A Year Over Past Five Years"

    It's not as catchy as "IBM’s reorg-from-Hell launches next week" (and won't draw as many clicks), but at least it would be factually accurate...
    Aug 24, 2015. 12:09 PM | 4 Likes Like |Link to Comment
  • IBM: Is There A Margin Of Safety At Current Levels? [View article]
    This is directly from your article on January 22nd, 2015:

    "IBM’s big layoff-cum-reorganization called Project Chrome kicks-off next week when 26 percent of IBM employees will get calls from their managers followed by thick envelopes on their doorsteps. By the end of February all 26 percent will be gone."

    So you were saying (A) it was just about to start, and (B) it would ALL be done in roughly one month (100,000 jobs).

    Now you're saying (A) it actually started a few years back, and (B) "even more layoffs are coming" over time.

    In other words, your sensationalized claim has been proven wrong. You're trying to move the goal posts to save face...
    Aug 24, 2015. 11:44 AM | 6 Likes Like |Link to Comment
  • Wal-Mart reassigns some top managers [View news story]
    Meanwhile, back in reality, Walmart generated $28.5 billion in cash flow from operations last year; that's more than Costco, Amazon, Target, Dollar General, Whole Foods, Safeway, Dollar Tree and Kroger - combined.
    Aug 21, 2015. 04:08 PM | 3 Likes Like |Link to Comment
  • IBM: Is There A Margin Of Safety At Current Levels? [View article]
    Cringley,

    Glad to see you're back again. I wrote to you a while back but you never responded; I'll try again here:

    "Massive layout report shot down? I think not. Wednesday is going to be a very interesting news day for IBM."

    You made that comment on January 27th after predicting IBM would cut 100,000 employees; by your count how many people were let go?

    You also said the following:

    "IBM’s big layoff-cum-reorganization called Project Chrome kicks-off next week when 26 percent of IBM employees will get calls from their managers followed by thick envelopes on their doorsteps. By the end of February all 26 percent will be gone."

    What was the count by the end of February? Thanks in advance!
    Aug 21, 2015. 03:56 PM | 5 Likes Like |Link to Comment
COMMENTS STATS
1,098 Comments
2,351 Likes