Reports Q2 (Jul) GAAP earnings of $0.25 per share, in-line with the Capital IQ Consensus Estimate consensus of GAAP $0.25; revenues rose 5.7% year/year to $1.02 bln vs the $1 bln consensus. Co issues upside guidance for Q3, sees Q3 revs +4-6% QoQ, which equates to ~$1.057-1.077 bln vs. $1.05 bln Capital IQ Consensus Estimate.
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-GAP & RUN: Looks like a great gap & run play for calls. I’f this thing holds it’s gap in the 1st 5 to 10 min I’ll jump on board with stock & calls.
-SHORT 6.4%
PROBABLE MARKET CONDITIONS:
the beaten stocks were all balling today & even the ones with great earnings.
-CSCO gap & ran after earnings as well
-RIMM was up 10% today
-BAC was up 7%