I got a kick in watching Garrison Keillor walk the audience through St Paul the other day. One particular phrase made me laugh, he commented, "it isn't as cold here as people think, but we say it is to keep the Texans out." Now I am married to a Texan, but still found it funny as I lived in St Paul for 7 months but my wife didn't want to stay there because of the cold (I did recall it being pretty darned chilly).
TEX (the stock) had a bad day today. They announced that profit will be $6.35 to $6.65 per share for 2008 compared to prior estimates of $6.85 to $7.15. This caused the stock to sell-off 20% to $38 a share. Now that is still better than the $5.95 they made in 2007 but I suppose the market thinks more bad news will come as the global economy slows. Needless to say, the close was a 52 week low. MTW also closed down 7% at a 52 week low. Bad day for machinery companies.
As a clarification to my blog over the weekend, I did not add VSNT to my portfolio that is competing against MagicDiligence. It didn't qualify as it had been on the top 25 list back in November. My rule is that it can't have been on list in past year.
APKT also dropped by 14% in this brutal day. My portfolio was "only" down 1.7% against the broader indices being down close to 3%. Somehow I don't feel better.
Anyway, I'll do what Jim Cramer recommends on these day... get down on the linoleum floor and drink some cheap scotch.
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment