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Can Someone Explain?
Old 12-01-2006, 12:55 PM   #1
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Can Someone Explain?

I have owned shares in Kellwood Corp. (KWD) for about 10 years. Today the stock is up $1.28 or 4.1% to $32.53 per share. The only news I could find was the following:

"Kellwood Co. (KWD) said Friday its third-quarter income from continuing operations fell to $5.5 million, or 21 cents a share, from $7.9 million, or 29 cents, a year earlier.

Net income for the three months ended Oct. 28 fell to $8.1 million, or 31 cents a share, from $16.2 million, or 60 cents.

The average earnings estimate of five analysts surveyed by Thomson First Call was 64 cents.

The St. Louis apparel company said revenue fell to $516.4 million from $520 million."

I'm not complaining, mind you. I like to see my shares go up, but I am at a loss to understand why anyone is suddenly ready to pay 4% more for them today than yesterday. What am I missing?

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Re: Can Someone Explain?
Old 12-01-2006, 01:07 PM   #2
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Re: Can Someone Explain?

The market must have thought earnings were going to be lower, and the market was pleasantly surprised that the results weren't as bad as originally thought.
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Re: Can Someone Explain?
Old 12-01-2006, 01:10 PM   #3
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Re: Can Someone Explain?

Yes, but "ex items" the results were actually $.68/share versus estimates of $.63. A broker upgraded it also. So if you ignore all the inconvenient bad stuff, they did great! Buy! Buy! Buy! :
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