If only they beat earnings. A lot of companies were able to beat and some are unable to beat estimates. Long investors shouldn't look at quarterly results though but market is very volatile these days and investors react strongly to it. Not to mention the mixture of positive/negative index news. It's a rough 1Q overall, bc market/economy is slow. Investors are overly reacting to slow growth on Q1. My prediction is the same for CMG, over valued and with the slow growth--it'll be hard for the company to sustain profit/revenue for its high PPS. It should drop, if not tomorrow, then next slow quarters. I was a short, had to cover today for more $$ to buy BAC. BAC is oversold after earnings missed by 2 cents. It should only be down 20 cents and share should be at $12. 2 cents with its 10 bil shares only brings it to 20 bil. But stock was dragged down to 7-8%. Very cheap atm, and will see a recovery after the panic selling. IMO Anyways GLTY :)
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