KCP just reported. A disastrous forecast. The analysts on the call didn't seem to believe them when they said they'll pull out of this in the second half. Ask AH is 17.50 - 5% off the close. http://biz.yahoo.com/prnews/080506/nytu1... "The Company noted that the soft wholesale business trend will likely result in lower shipments and reduced margins in the second quarter. To reflect this, the Company expects second quarter net revenues in the range of $108 million to $113 million and a loss per share of between $(0.11) and $(0.13)."
Sorry if this is getting tedious. On the other hand, if you'd followed my advice at the open today, you could have made a 16% profit. Anyhow, I ran the numbers: in essence, the stock went from estimated earnings for the year of $0.55 to - optimistically - $0.37. Actually, there's reason to believe that things are much worse. But even if not, this stock should be trading at $11.50 if it held its P/E from the day before earnings. And it had that P/E assuming growth, as opposed to losses. So there's probably another $1-2.00, at the outside $3.00, or 25% to be shorted away here. DH