As you may know, I now write for a stock market analysis website. Not being a fantastic stock market analyst, I often rely on outside sources to help me along. My method is to get a press release straight from the company, do my own cursory analysis, look up 2-3 other sources, and see where my ideas line up against theirs. From there I can write something without too much fear of being horribly wrong. (Because, trust me, I really fear being horribly wrong!)
Unfortunately, sometimes not being a stock market genius, or MBA, comes back to bite me. For instance, here's a little problem I ran into today-
What the AP said (and is syndicated all over the place)- (loss of $60.6M)
What Reuters said (and is also syndicated all over the place)- (profit of $60.6M)
What the company actually said in their press release-
See the problem?
Now, I've read enough of these ledgers to have a pretty good idea of whether or not AP or Reuters is right. However, the fact that one of these major news outlets is obviously wrong makes me have to question whether or not I am right. Really, I'm pretty sure it all comes down to the way the company worded their press release, which wasn't smart on their part.
And is going to give me a headache for the rest of the day.
Unfortunately, sometimes not being a stock market genius, or MBA, comes back to bite me. For instance, here's a little problem I ran into today-
What the AP said (and is syndicated all over the place)- (loss of $60.6M)
What Reuters said (and is also syndicated all over the place)- (profit of $60.6M)
What the company actually said in their press release-
Now, I've read enough of these ledgers to have a pretty good idea of whether or not AP or Reuters is right. However, the fact that one of these major news outlets is obviously wrong makes me have to question whether or not I am right. Really, I'm pretty sure it all comes down to the way the company worded their press release, which wasn't smart on their part.
And is going to give me a headache for the rest of the day.
Their net income was a positive 52,031 vs a positive 60,583 last year. If the amount was negative, a loss, it would be surrounded by parentheses - (60,583)
ReplyDeleteSo profits fell to $52 million from $60.6 million year over year.