Below-Expected Earnings For Google Posted Early, Trading Halted 275
An anonymous reader writes with this snippet from the BBC: "Trading in Google shares has been suspended after the internet giant released its third-quarter results early by mistake. Google blames financial printing firm RR Donnelley for filing an early draft of the results, which had been expected after the closing bell. Shares in Google were down 9% when trading in the stock was suspended. Shares had fallen as much as 10.5% at one stage. In a statement, Google said: 'Earlier this morning RR Donnelley, the financial printer, informed us that they had filed our draft 8K earnings statement without authorisation... We have ceased trading on Nasdaq while we work to finalise the document. Once it's finalised we will release our earnings, resume trading on Nasdaq and hold our earnings call as normal at 1:30 PST.'"
Re:finalise? (Score:5, Funny)
Is the BBC anglifying the spelling of a U.S. company's report, or are the people at Google huge anglophiles?
No, it's just that Americans don't speak proper English so some kind hearted soul took pity on Google and corrected their spelling.
Re:Dumping?! (Score:5, Funny)
What I'd do, is wait for all the panic selling, pick up some Nov or Dec calls, and when the panic ends, folks will probably buy back in and push the price up a little. Or you could just go long.
Panic selling always overshoots down past where the price will eventually settle.
The only thing more amazing than the fact that people manage time and time and time again to convince them selves that constantly increasing growth is sustainable, is the shock they get when it turns out not to be.
http://www.horace.org/blog/wp-content/uploads/2008/06/book-buy-sell-sell-sm.jpg [horace.org]
So much for the dispassionate never erring and invisible hand of the free market.
Re:Bigger not better (Score:5, Funny)
Basically, they have spent lots of money on growth rather than putting it into a bank account. Sounds like a terrible idea, really.
Re:It is authorization, not with an S (Score:5, Funny)
As long as they spell it with a zed and not with a zee all is not lost.
Re:Doh! (Score:2, Funny)
How droll. He was shot.
Out of a cannon.
Into the sun.