Every now and then a stock gets taken to the woodshed. That is what happened today to CMED, a stock I had added as a "quasi" MFI stock. I knew the headlines were not good when I woke up this morning (InPlay: China Medical Tech misses by $0.49, misses on revs; guides Q3 revs below consensus). I should have known to sell them in the summer when they made a lame excuse about the 2nd quarter being poor. No 2nd chances, I sold them today, the first time in a long time I have sold prematurely.
Obviously the crushing of CMED made for a poor day. But I did get good news with one of my newest stocks, CMFO. They gave some most excellent guidance for 2010 (China Marine Food Group Ltd. Announces 2010 Guidance). They went up 13% on the news on this horrible day. They expect revenues "greater than $80m" and 18m of income. I took a look to see what that means, the past 4 quarters they have $58.1m of revenues and income of 12.7m. So that is huge, almost 50% growth in revenues and income. Giddy-up.
Two other stocks of mine reported earnings: GME and BKE. GME was pretty good (GameStop Profit Rises 12% On Solid Sales of Videogames) and went up on the day. I thought BKE was solid, but they were down (Higher online sales boost Buckle's 3Q profit). Their revenues were up 10% and they made 73 cents per share. I find it ironic that their stock is going up while they're successful, because they're successful.
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