AI
Tuesday, February 03, 2004 7:03:27 PM
WEBX..+7.54% #1 newsletter earnings play for tonight, (profit quintuples) pushed and prodded today into a strong straddle as we saw a big move possible. Straddle position called 2:05 p.m.
WEBX reports tonight UPDATE-
We did call the intention of a WEBX straddle WEBX is about even today 50% of intraday highs. Once again a rather cheap straddle the Febru 20 calls doing well up already February 20 puts might be a strangle here if you are not in this play yet.
We posted the 22.50 calls and 17.50 puts on yesteday's chart but we expected some move to the upside that never came yesterday, the 20 calls look even better here if you haven't taken a position yet (WEBX was weak yesterday) and the 20 puts (for a STRANGLE).
UPDATE - WebEx profit quintuples, tax benefit helps
Tuesday February 3, 5:19 pm ET
(Updates with profit excluding one-time item, latest stock price)
SAN FRANCISCO, Feb 3 (Reuters) - WebEx Communications Inc. (NasdaqNM:WEBX - News), a provider of Internet communications services, on Tuesday said its fourth-quarter net profit quintupled from a year ago, aided by a one-time tax benefit.
Net income for the quarter ended Dec. 31 rose to $34.5 million, or 76 cents a share, from $6.9 million, or 16 cents, a year earlier.
Revenue rose to $53.8 million from $40.3 million.
The company recorded a one-time tax benefit of $21.4 million, or 47 cents a share, in the quarter.
Excluding the one-time tax benefit and equity-based compensation expense and assuming a 40 percent tax rate, income for the quarter was 21 cents a share, up 91 percent from 11 cents a year ago, the company said.
WEBX reports tonight UPDATE-
We did call the intention of a WEBX straddle WEBX is about even today 50% of intraday highs. Once again a rather cheap straddle the Febru 20 calls doing well up already February 20 puts might be a strangle here if you are not in this play yet.
We posted the 22.50 calls and 17.50 puts on yesteday's chart but we expected some move to the upside that never came yesterday, the 20 calls look even better here if you haven't taken a position yet (WEBX was weak yesterday) and the 20 puts (for a STRANGLE).
UPDATE - WebEx profit quintuples, tax benefit helps
Tuesday February 3, 5:19 pm ET
(Updates with profit excluding one-time item, latest stock price)
SAN FRANCISCO, Feb 3 (Reuters) - WebEx Communications Inc. (NasdaqNM:WEBX - News), a provider of Internet communications services, on Tuesday said its fourth-quarter net profit quintupled from a year ago, aided by a one-time tax benefit.
Net income for the quarter ended Dec. 31 rose to $34.5 million, or 76 cents a share, from $6.9 million, or 16 cents, a year earlier.
Revenue rose to $53.8 million from $40.3 million.
The company recorded a one-time tax benefit of $21.4 million, or 47 cents a share, in the quarter.
Excluding the one-time tax benefit and equity-based compensation expense and assuming a 40 percent tax rate, income for the quarter was 21 cents a share, up 91 percent from 11 cents a year ago, the company said.
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