| America will soon seem like fond Hollywood memory
If memory serves, and generally speaking it does not, there was once one of those mad Beatlemania press conferences. In 1964, I think. Mr Lennon was asked how he had "found" America. John dodged the obvious joke, and did better. "It's just like Britain, really," he said. "But with buttons." For a child of the time, this was entirely true. They had the TV button. They had the glamour button. They had the hydrogen bomb button. They had the button that could devalue your pound, destroy a sovereign foreign policy and turn everything you ever knew into a suburb of a cowpoke town. A button. .
KSE shed 456 points in last week
KARACHI: Karachi Stock Market during the outgoing week continued its downward journey for the second consecutive trading week as the KSE-100 index shed another massive 456 pts or 2.4 percent.
The downward trend is due to deteriorating law and order situation in the country and quarterly report issued by the State Bank of Pakistan (SBP) regarding poor status of the economy specially in terms of trade deficits, inflation and export shortfalls shattering confidence of foreign investors.
Following poor law and order situation in the country, especially during the two previous weeks, the KSE-100 index has already suffered massive tumbling of 968 pts, which has emerged as a shock for majority of small investors following six weeks of incessant gains. Farhan Mahmood, analyst at J.S.
Citrix Systems Tops Estimates
The Fort Lauderdale, Fla., software developer reported revenue of $399.6 million, up 24.5% from a top line of $321 million a year ago. Revenue was also 5% above analysts' estimates of $380.4 million, according to Thomson Financial. Net income rose 19%, to $62.8 million, or 33 cents a share, from $52.9 million, or 29 cents a share, in the year-ago period. Excluding items, EPS was 49 cents, well ahead of analysts' expectations for 43 cents a share. The stock was up $3, or 9.4%, to $35 in after-hours trading. The board added $300 million to its share-repurchase program Wednesday. Citrix retired about 5.4 million shares during the quarter at a cost of $213 million, CFO David Henshall said on a conference call. Citrix forecast first-quarter revenue of $367 million to $377 million and EPS, less items, of 33 cents to 35 cents.
TheStreet.com Power Stock Rankings
The stock rallied on the heels of the interest rate cut, but this problem child of the financials still has its work cut out. As I said last week, I want to focus on the positives in this name moving forward, and resist the easy temptation to lambast the awful decision making of their past. The stock is already down huge, but I would wait for shares to trade under $24 before jumping in. -- HOLD .
|
