Just a quick note to update you guys on how I'm playing this Google fiasco.
First of all, it looks like the reporting service they use to release earnings screwed the pooch and released them during market hours when they were supposed to release after the close. The stock is down 10% and tripped a circuit breaker, so it's halted. The company is filing SEC paperwork now and once it's in the stock will resume trading (hopefully in the next 30 mins).
I liquidated my entire AAPL position at the market and I'm working a limit on my MWW position to load up on GOOG when it reopens.
Think it will spike when it reopens? I'm short 500 shares at 755... Time to cover?
I hope not. I'm hoping it absolutely tanks. I'd love to load up under $600. Fingers crossed for both of us.
COVERRRR!!!
This drop makes me laugh, it had run up RIDICULOUSLY since mid July when it was in the 570s!!! It is still 680 and this pull back is not that surprising with an earnings miss like this. I sold out 1/3 of my position when it hit 752 a few weeks ago...looks like a decent time to get long again. But I think I might hold off since this could also trend down to the low 600s and I am pretty bearish on the overall market right now.
Covering 1/2 my position as quickly as I can. Then rest around 650 and 600. I'm completely out at 705 though.
Wow. Major typo was on my phone. I'm only short 50.
Wow, GOOG down 9%? Crazy...
make dat monies men!!
and holy crapper it dropped off
RR Donnelley is only down 2.3%. Idiots.
http://finviz.com/quote.ashx?t=rrd&ty=c&ta=1&p=d
I pity the person who let this slip. Google must be going ape shit.
Just unwound my MWW position for a break even.
I just saw an alert on my phone that said Google missed and I thought that it must've been someone's prediction. Then I saw that they actually missed and was really confused why/how they announced while the market was open. Now it makes sense and I'm curious who is going to lose their job on this.
I actually think it would be fun if all announcements came out randomly during the day. Just set aside a week where all companies announce and let them all haphazardly announce during market hours.
That would be awesome.
Hahaha could you imagine?
buying TRIP on CPC decline
Damn intern.
Does anyone think trading on GOOG will start again today? Or will we have to wait until tomorrow?
Google should resume trading before market close, that's what Google told the press. And shorting the only internet company that is profitable on mobile isn't prolli the best idea, just saying.
Quoted from the wsj article:
"Excluding stock-based compensation and other items, profit fell to $9.03 from $9.72 a share. Revenue, excluding traffic acquisition costs, improved to $11.33 billion.
Analysts surveyed by Thomson Reuters expected earnings of $10.65 a share"
"Total costs jumped 71%."
"For the third quarter, the average cost that advertisers paid Google per click fell 15% from a year earlier, and fell 3% from the prior quarter."
My question is, how could these analysts have been so far off the mark in their earnings forecasts? In fact so off that the stock price immediately fell after the news was released so clearly this expectation of lower earnings was not priced in.
Wouldn't you think that anyone closely following Google could've found out with a call or some research that the avg cost advertisers paid google had fallen. Couldn't people have found out about the motorola unit dragging down profits for the quarter?
I'm not asking these as rhetorical questions, but I'm wondering what is the barrier to research that could make this such a surprise? After all, analysts should have several months between earnings releases to do research. Is a lot of the information that would be relevant difficult to obtain?
I went short because they are the only successful mobile advertising company. I did a little research and was able to find out that mobile advertising was down in general, so I went short at 755 figuring that GOOG earnings would be down this quarter.
We all knew CPC has been going down. Its been going down since Q4 2011 YoY, and down QoQ since Q2 2011. And at last earnings call Google didn't say anything about MMI cept they are doing their dd so sort of left out in the dark on that one.
The big concern shouldn't be CPC from this earnings release, but paid click thru decelerating.
ER is a sham..they don't know what the hell is going on
http://www.businessinsider.com/cnbc-google-has-been-calling-analysts-20…
Some heads are gonna roll on this one...
Entry at mid-low 600s sounds nice!
trading just resumed
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