IBM Q3 Beat: Stock Will Rebound When Sanity Prevails, Says Annex# Stock
d*8
1 楼
International Business Machines (IBM) shares are down $6.94, or almost 4%,
at $179.65 despite the company beating Q3 EPS estimates and raising its year
outlook.
What’s the problem?
Former IBM’er and Annex Research director Bob Djurdjevic writes in a brief
note that it is the predictable “sell on the news” behavior of Wall Street
this afternoon.
IBM’s results are “solid as a rock,” he writes. But speculators “had
hyped up the stock to a new all-time high ($190.53) on Friday in advance of
today’s earnings release,” he writes. As a consequence, “Wall Street
could not be bothered with facts. It had already made up its mind to sell
no matter what Big Blue did.”
Djurdjevic predicts, “IBM shares are bound to bounce back when common sense
and reason replace the speculators’ fever and cooler heads prevail. “
at $179.65 despite the company beating Q3 EPS estimates and raising its year
outlook.
What’s the problem?
Former IBM’er and Annex Research director Bob Djurdjevic writes in a brief
note that it is the predictable “sell on the news” behavior of Wall Street
this afternoon.
IBM’s results are “solid as a rock,” he writes. But speculators “had
hyped up the stock to a new all-time high ($190.53) on Friday in advance of
today’s earnings release,” he writes. As a consequence, “Wall Street
could not be bothered with facts. It had already made up its mind to sell
no matter what Big Blue did.”
Djurdjevic predicts, “IBM shares are bound to bounce back when common sense
and reason replace the speculators’ fever and cooler heads prevail. “
