$QCOR showing upswing before blowout earnings tomorrow:
A couple of reminders in case you want to be IN before the news:
QCOR’s earnings report is Wednesday, Feb. 22. TTM EPS will report a 40.5% increase, based on a 2/16/12 8K filing showing net income (before taxes) for Q ending 12/31/11 is $41M to $43M. New TTM EPS will be roughly 0.44 (= 42/33.7 x 0.35).
This will make a good play, especially after a StreetSweeper report back in January allowed shorts to drop QCOR’s PPS by 19%. However, the rather weak StreetSweeper report was effectively refuted in a rebuttal issued by QCOR.
Quarterly EPS data and estimated 12/31/11 earnings:
Period___________________12/10____3/11____6/11____9/11_____12/11 Diluted EPS________________0.10____0.17____0.21_____0.35_____0.44--(projected) Net.Inc.B4_tax______________10.9___16.6____20.4_____33.7______42--(projected) Net.Inc.after.Tx_____________6.42___11.2_____13.87____22.85____28.48--(projected) ratio income B4/after tax____________________1.4704___1.4747___1.4747--(projected) Sharecount________________65.39___65.37___65.46____66.02____66.02--(projected) N.I./(EPS x Sh.Ct)___________0.9813__1.0099__1.0093___0.9889___0.9889--(projected)
Soon after the rebuttal was issued, StreetSweeper's short position decreased substantially; they covered when they saw the preliminary news of QCOR's upcoming earningst. However, not all shorts have covered, based on NASDAQ latest daily short interest.
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