Sysco’s Earnings

The Dow was in the black for much of Monday, but after about 2:30, it slipped into negative territory and eventually finished 58 points lower. That ended the Dow’s chances of marking an historic first—20 of 22 up days.
Before the bell, Sysco (SYY) reported earnings of 35 cents a share. That was a nice improvement over last year’s total of 30 cents, but it was a penny short of Wall Street’s forecast. The market wasn’t pleased and the shares tumbled 4.6% lower. That seems like an overreaction. Nothing seems to be going Sysco’s way this year. The stock is down nearly 11% for 2007. That’s unusual for a stock that’s historically been so stable.
I also noticed that our favorite micro-cap, Nicholas Financial (NICK), seems to be waking up. The stock doesn’t normally move very much, but it rose 4% on Friday and another 2.6% today. That’s a lot for NICK. Both days had much higher-than-normal trading volume. The company should be reporting earnings soon, but it hasn’t said what day yet.

Posted by on April 30th, 2007 at 11:49 pm

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