#CBM Loss
36 messages in this thread
Commodore reported a loss for the quarter and stock today close down
$2.25 to $6.875 on over 1.2 million shares traded. That is *way*
below the yearly low-price mark (about $9 before today).
.
NEWSGRID and teh ENS have multiple stories covering Commodore today.
.
*ouch*
.
-Chas
AM-Report
RTf 08/19 0925 COMMODORE <CBU.N> TO LAUNCH NEW PRODUCTS FOR XMAS
NEW YORK, Aug 19, Reuter – Commodore International Ltd said it plans to
launch new Amiga products for the Christmas season, which is "traditionally
strong."
The company said it sold one million Amiga units in fiscal 1992, which
ended June 30.
"We are also redoubling our efforts to expand our PC business and
achieve substantially greater cost efficiencies," the company said.
It reported a fourth quarter net loss of $21.9 million, or $0.66 per
share, compared to net profit of $3.3 million, or $0.10 per share. The
company's fourth quarter ended June 30.
This always happens when I don't have any extra cash to buy stock. Sigh.
Denny –
OK, I missed the beginning of this thread, but just this weekend a
friend called and left a message on my answering machine that basically
came down to this; "Roy, I noticed that CBM stock is way down – do you know
why?"
No I don't – so before I call him back I thought I'd ask around here for
a quick summary as to why CBM is down. This seems to be the perfect thread
to ask in.
Did I miss something? Why is the stock so low?
"Be readin' ya"
(c) Roy Pahnke – 1985 🙂
Roy,
Commodore announced a 21M loss for the quarter. That's why the stock went
down.
At current prices I'd buy a lot of it if I had some money…
You think the stock is going up? Any particular reason? What? You don't
have a surplus of cash from your high-paid editor's salary? 🙂
John,
>>You think the stock is going up?
It can't go down much further.
I once spent years watching the stock and counting the thousands of
dollars I'd have made if I'd just invested $500 in Commodore stock LAST
time it fell to about 5… Maybe I'll do it again.
Denny:
You're correct. Seems like CBU stock falls to a low about this time every
year, and then rebounds quite nicely after the New Year (and Xmas sales
have been tallied).
// Michael
\X/ …on AutoPilot
Michael,
It seems to me that Commodore stock rebounds each January because that's
when they start hinting that they're ready for a Japanese buyout 🙂
kev
One of the most basic reasons that Commodore stock is so volatile is the
fact that it is a U.S. based company with over 60% of sales registered in
foreign currency's. Since it is nearly impossible to predict exchange
rates for when the currecny will be translated it is also then very
difficult to predict earnings with any accuracy. WALL STREE HATES
INACCURATE VOLATILE EARNINGS! So the stock bounces around like a Yo-Yo.
Currency hegdging transactions, are by the way, mostly a 'zero sum game,'
meaning that if you are good at it, over time you will break even. It does
even the earnings out a little, but this time it did contribute to the 21mm
loss. I follow Commodore, along with other technology issues, for the bank
I work at. (I am an equity analyst.) I think that Commodorer, with a low
p/e of around 8, and an estimated growth rate of 10-15% (I think that's
what it was last time I checked) seems pretty reasonable, but it is highly
volatile, and you must be willing to get out in short notice. My opinion
any way. Gary.
Commodore Intl. Ltd. 21-Aug-92
Industry:1702 Symbol: CBU
———— MARKET ACTION ————
1992 Range
High 19.25
Low 6.75
Average Volume 197170
Beta 1.4
Institutional Holdings 25%
Primary Exchange NYSE
S&P Rank B-
COMMODORE INTERNATIONAL LTD
Address
COMMODORE INTERNATIONAL LTD
SASSOON HOUSE
SHIRLEY & VICTORIA STREETS
POST OFFICE BOX N-10256
NASSAU BAHAMAS , FF
COMMODORE INTERNATIONAL LTD Disclosure Co No:
C527625SASSOON HOUSE
Ticker: CBUSHIRLEY & VICTORIA STREETS
CUSIP: 202660POST OFFICE BOX N-10256
Exchange: NYSNASSAU BAHAMAS , FF
PHONE: 8093223807
CROSS REFERENCE: WAS COMMODORE BUSINESS MACHINES CANADA LTD
P/E RATIO: Closing price on 8/26/92 was $7.25. Dividing closing priceby
cumulative earnings per share (EPS) of $0.82 for the 4 most
recentlyreported quarters results in a latest actual P/E ratio of 8.84
(vs.
25.54 for the S&P 500). Using the average of earnings estimates for
thecurrent fiscal year produces a forward P/E ratio of 3.80 (vs. 17.96 for
the S&P 500).
EPS TRENDS: Last fiscal year's EPS was $0.80 on 6/30/92. Analysts are
expecting $1.91 for 6/93, a 139% increase (vs. S&P 500's +44%). No
estimates are available at this time for 6/94. 5 year estimate of
earningsgrowth is 20.00% (vs. S&P 500's 8.00%).
CHANGES: '93 EPS revised up 20.89% from last week and revised up
20.89%from 4 weeks ago.
// Michael
\X/ …on AutoPilot
Commodore International Ltd (CBU) is a Bahamian company.
-sja
I thought the Bahamas were a suburb of Miami.
// Michael
\X/ …on AutoPilot
and I think that implies that a lot of weird trading in the stock goes on
by insiders who don't have to report everything. I've got a feeling that
the large CBU stockholders make more money on the stock's volatility than
they do on 'earnings' of the company (which pays no dividends, anyway).
Yeah, but everytime it's been down to 4, I've not been confident it will
rise again – apparently, like the rest of the market. 🙂 I don't think
the new machines will make it rise more than $1.50. I think Gould's death
or a CBM takeover would do wonders for the stock price, though – but who
knows what might happen before those things happen.
(humor) it is a bit grim to note, John, the presumed effect of a…
Chairman's demise on a stock price increase! Irving Gould is not in
business for OUR health – but I hope his is fine! CBM keeps me alive and I
love them for that…
this time last year CBU was at $4.50. by January it reached $20. CBU
tends to bottom out in August every year, but who knows. Hope the losses
don't last long. hard to imagine selling $1 Billion and losing $$$.
"hard to imagine selling $1 Billion and losing $$$."
Can you say TWA, CONTINENTAL, GM <g>
// Michael
\X/ …on AutoPilot
what exchange are they on? and what symbol? i know th~ey are selling in
Europe, but they don't seem to be getting any stronger here. what a shame
i~t takes 4+ times as much $ ~to sell something as it does to create it.
charlie mccready
American exchange (I think, or NYSE) ticker symbol CBU
// Michael
\X/ …on AutoPilot
The symbol is CBU, I think it's the NY exchange.
Symobl: CBU Exchange: NYSE Listed in newspapers frequently as COMDRE…
on the NYSE listings page.
BTW, to see a stock quote (20 min delayed), at any CIS "!" prompt, just
type: QUOTE <symbol> ex: QUOTE CBU
// Michael
\X/ …on AutoPilot
Neat, thanks for that info.
– Keith
That is neat. Where do find little tidbits like that?
-Sean
Sean,
Easy. Type "help" at the forum prompt 🙂
One command I use all over the place on CIS is the "weather" command. I
just type "wea", and my local forecast comes up.
Note: once in a while CIS doesn't have your location, so it sometimes will
pause for a minute and then say "unavailable" or something like that. But
most of the time it works fine.
kev
Kevin,
Thanks for the tip. I'm sure I'll use that weather command often (if
it's supported here).
-Sean
"Where do find little tidbits like that?"
Sean:
I think I picked that up when I was spending some time in the FINANCIAL
forums. Either that or from CIS Magazine. The CIS FINANCIAL forums have a
lot of information available.
BTW, there are several very good books on how to get the most out of CIS
that are just chock full of stuff like that.
// Michael
\X/ …on AutoPilot
Michael,
I bought one of those books around 1985 and it didn't really help me
much. I'd imagine that they've evolved quite a bit since then though. I
guess I'll grab one, any recomendations?
-Sean
Sean:
I haven't really looked in awhile… I think that there is an updated
edition of William Cooks' _The Joy of Computer Communications_ out, but
the origianl was a bit dry, so you might just want to go to your local
BDlatonWladengigabookstore and browse for something that catches yer eye.
// Michael
\X/ …on AutoPilot
I'll take a look at go order too.
-Sean
Thanks for the quick, short summary Denny –
I'll past the report on to me friend. He does pay the market. He once
had some C= stock a couple of years ago and sold out to soon – it bummed
him out for weeks.
"Be readin' ya"
(c) Roy Pahnke – 1985 🙂
How much does he pay the market, per year 🙂
–Paul Still on AutoPilot
>"How much does he pay the market, per year :)"
Ooops, forgot a letter there? But I did ask him anyway and for a example
he told me that he just bought 200 shares of IBM, which, as he explained,
is pretty much at a low also @ at about $80.00 per share.
Hey – that's to much money for me to mess with.
"Be readin' ya"
(c) Roy Pahnke – 1985 🙂
Roy,
The stock is down because Commodore reported about a 21 Million
loss for the quarter that ended June 30th.
Don