Update 2 JADE** CORRECTED - CORRECTED-(OFFICIAL)-UPDATE 1-LJ International raises Q4, full-y Reuters - February 15, 2007 11:10 AM ET Related Quotes Symbol Last Chg JADE Trade 8.848 +0.568 Real time quote. (Corrects previous full-year outlook to a range of 22 cents to 28 cents a share in fourth paragraph, after the company clarified) (Adds details, share movement) Feb 15 (Reuters) - Hong Kong-based jewelry company LJ International Inc. (JADE) raised its outlook for the fourth quarter and fiscal 2006, sending its shares up more than 9 percent. For the fourth quarter, the company now expects to earn 16 cents a share compared with its November forecast of 4 cents to 11 cents, on revenue of about $40 million compared with the $33 million to $37 million revenue previously forecast. In a statement, LJ International cited its ENZO retail chain in China, which it said is the fastest-growing part of its business and surpassed a target of having 40 stores open by the end of the year. The company raised its fiscal 2006 earnings forecast to 34 cents a share compared with the outlook given in November of 22 cents to 28 cents a share. Revenue for the year is now expected to be $123 million, compared with the November outlook of between $115 million and $120 million. Analysts on average expected the company to earn 9 cents a share in the fourth quarter and 26 cents a share for fiscal 2006, excluding items, on revenue of $37.7 million and $120.8 million respectively, according to Reuters Estimates. Shares of the company were up about 79 cents to $9.07 in morning trade on the Nasdaq. After a high near $9.50 do we ruin our cost basis and buy some more here? Thoughts anyone?
Alright this gets downright tricky I've tracked down the offending paragraph in the 1st release it referred to $0.34 for all of 2006. And that got us racing pat $9.25 now cooler heads have prevailed it was supposed to say 22 cents to 28 cents whereas the estimate is already at 26 cents.. now before we all jump ship I've looked back at history and they have habit of these ridiculous spreads in the estimates and then they come in and beat so I wouldn't assume there's a chance they will miss by 4 cents by this release it would seem they are guiding higher by two cents.... The market will have to decide but things just got a whole hell of a lot more interesting here i'm just not sure if that's good or bads at this point.
XING goes my heart! Wow what a mover this has been for us.<Qiao Xing Universal Telephone (XING) hit a new 6 ½-year high, closing up 73 cents. It pressed 19 today.> I'm glad it backed away $20 was our ST price target and I don't want to lose the dream here>> I'm always hopeful some new angle will come in play which will result in a higher price target. ~stoney
Yes the madness of the East. I have just focused on flipping IPO's of red chips and purple chips on HKEx for past 2 years, http://baby.boom.com.hk/portfolio/IPO/list.asp though it go against my permanent doom and gloom outlook its been great experience. Cannot see it lasting another 6 months. Funny enough recently learnt that there is a total of 8 funds actually focusing and trading these, recent addition by Macquarie. Nine Dragons Paper still hurts me like hell. Sold it on a 4% dip only to see it shoot and shoot some more. Mainland bourses ( Shanghai and Shenzhen) are a bit tricky as they are predominantly retail (taxi drivers, bored & frustrated Chinese housewives , and people getting money against their homes from loan sharks just get into the bubble. Anyway FTSE/Xinhua China 25 Index looks ripe for some short selling ?? Another which has frustrated me is BRIC Bombay, NO-NO to foreign private investors !!! Even tried to open account via London based Indian bank to trade, but they soon fished me out. HA !!!
It is pretty pathetic. One day when logging on I mistakenly went top elitetrade.com and it was some obscure chinese cement company. - I immediately went looking for a symbol!
Better than that- it's the year of the " Golden Pig " which doesn't come around very often. Very auspicious.
You know we were joking here and all the while the answer was staring us in the face. The move recently in China stocks and the correlation with the year of the golden pig. Indeed bets are being placed at a maddening rate in Shanghai & loans are being taken out purely to invest... mom and pop are catching the bug... it's a recipe for disaster. I had been holding out for the Olympics and another strong year for these stocks. Now realizing the importance of the Chinese Lunar New Year as it relates to sentiment over there. I can only give this ride a month or two at best. Check this out. @:http://www.safehaven.com/article-6945.htm
Update on NWD nice run up the last hour this afternoon. Up nearly 5% from 1.67 to 1.75 with a HOF @ 1.76 on higher then normal volume. Ginger powder announcement looks to have had some upside after all. Still keeping my 2.15-2.20 price by Q4 earning on March22nd.