SwingTrade Member Forum

[Painterguy1]

Long CELL for swing @ $10.40 they got smacked down about 25% on bogus reporting.

They really beat and earned .31 vs .26 consensus but the AP reported a miss of .18 vs .26


Correction: Brightpoint Earnings
Wednesday February 27, 11:11 am ET
Correction: Brightpoint Earnings Story


NEW YORK (AP) -- In a Feb. 8 story about quarterly earnings from Brightpoint Inc., The Associated Press, relying on information from Thomson Financial, erroneously reported that the company missed analysts' estimates for its quarterly profit by 8 cents. Brightpoint says, and Thomson now confirms, that the company beat those estimates on a comparable basis by 5 cents.

http://biz.yahoo.com/ap/080227/apfn_earns_brightpoint_corrective.html?.v=1


They also guided up in the CC but the AP reported this...


Clarification: Brightpoint Story
Wednesday February 20, 3:32 pm ET
Clarification: Brightpoint Earnings Story


NEW YORK (AP) -- In a Feb. 8 story on the earnings of Brightpoint Inc., The Associated Press reported that analyst William Choi of Jefferies & Co. expected a first-quarter decline of 13 percent over the fourth quarter. The sentence was incomplete, however, and should have said Choi expected total wireless industry unit sales to fall 13 percent in the first quarter over the over the fourth quarter


http://biz.yahoo.com/ap/080220/apfn_earns_brightpoint.html?.v=1


They sell worldwide including China and India, I don't think the cell phone market is saturated in those countries.