Marketgems Earnings Trader- Trading Strong or Weak Earnings Growth

[jenna]

MOVI looks like the right place at the right time. A good earnings report before a probable rally. Looks good. Technical chats especially bearish engulfing and long lower shadows, will mean nothing in these markets. Good news and improving market internals could turn around even the worst chart and an FDA warning can kill any drug stock irrespective of its chart.

Movie Gallery beats by $0.02; increases full yr view (MOVI) 13.50: Reports Q2 earnings of $0.27 per share, $0.02 better than the Multex consensus. Revs rose 47.7% to $122.6 mln vs the $121.1 mln consensus. Puts Q3 at $0.21-$0.24 (consensus $0.23). Raises 2002 outlook to $1.15-$1.21 from previous target of $1.08-$1.16 (consensus $1.15).