BIG RED FLAG LOST IN HOOPLA OF GOOGLE’S PREMATURE EMISSION $GOOG $AAPL $RRD $LNKD $FB $AMZN $YELP
(GOOG) was scheduled to release earnings after the market close. Inadvertently, earnings were released at 12:39 PM by its agent RR Donnelley (RRD). Google stock fell about 9% before it was halted. Both revenues and earnings were below consensus. To make matters worse, whisper numbers were higher than consensus.
In my analysis whisper numbers crept higher, not because of fundamentals but because investors who move money from Apple (AAPL) into Google were justifying their move and analysts had to justify their recent upgrades.
Most of the hoopla is about the early release, how some investors have been hurt by the early release and potential lawsuits. … Please click here or the title below to read more.