In the news today, the dollar picked up some strength against the Euro and pushed oil prices back down to $116 a barrel. This caused Chevron [CVX v2.2%] to take a hit but allowed some of the financials to bounce back with CitiGroup [C ^4.6%] and JP Morgan [JPM ^4%] leading the way. Overall, the market outlook remained positive among investors until near the end of the day until Microsoft released high earnings but released an outlook that didn't beat expectations. The market remained positive but closed on a downward beat.
On other news today, shares of EdwardKim [EKC ^3.5%] have been steadily climbing up due to speculation of an oncoming deal with potential partner BHDG in setting up it's new software unit that intends to expand towards the end of the year. Analysts report this could bring in extra revenue of up to 10~15% of what it reported at the end of Q1, and have raised their price target on the stock.
"[EdwardKim] has shown some real growth over the past year and looks to break another plateau by the end of this year. This one's not only great for short-term but is also a keeper" said one analyst from Wall Street.
"[EdwardKim] will beat its Q2 outlook for sure" commented another analyst, who admits to selling off half of his Apple stocks to buy up shares of EKC.
While it was a great day for EKC, there are still plenty of analysts still struggling to find reason to buy now. For a while, EKC has been looking into new ventures into the LOVE commodity, but has found itself just a bit shy of tapping into the right sources for this precious good. There's currently speculation about EKC already having found its source, but the company has yet to make any public announcements regarding this venture.
"There's just too little we know at the moment" said one Wall Street broker who has been following EKC since it's last venture into this precious good. "Once I see some signs of commitment I'll be ready to buy, but until then, I'll watch carefully to see its next move."
The CEO of EKC, Mr.Kim, in a brief interview with CNBC, did not comment on its venture and left everything 'up in the air.' "Who knows where we will head next?" the CEO said.
Kim did say, however, that it's plan to take over Apple by buying majority share has been retracted. It intends to, instead, look into other industries that show a bit more promise during these tough market times. "As much as I like Apple, they're still a luxury that people are now starting to feel they cannot afford" commented Kim as he referred to the declining cash flowing in the pockets of young teens who's parents are not only making less money, but also losing jobs.
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