Boring Portfolio Report
Wednesday, February 14, 1996
"Happy Valentine's Day, Boring," said Mr. Market. "Have a nice jelly bean. Just a little lint on it here, a little mold there. Oh, the black ones aren't your favorite, huh? So sorry."
That's the way it was today. It began this morning when Potash Corp. of Saskatchewan (POT) reported wonderful 4Q:95 earnings of $0.84 per share, up 59% over the year-ago quarter and beating consensus estimates by a penny. That nice little Valentine prompted the stock to sell off, naturally, ending the day at its low of $75 7/8 (bid) on heavy volume.
I was in on the POT conference call (even asked my first "official" question) and heard little if anything to justify such a reaction. Production was up, prices are up, orders are up, the new phosphate business has nearly doubled the company's sales overnight, and so on. There were no warnings or surprises as in the Kulicke & Soffa conference a couple of weeks back. Sigh.
Speaking of K&S, the company filed its official 10-Q with the SEC today, and so everyone who subscribes to the wire services learned that K&S expects earnings to be a tad low for the current quarter, although the company remains comfortable that third and fourth quarters will be strong. You've heard this before, you say? Of course you have. It's exactly what Scott Kulicke said in the conference call two weeks ago. It's old news. Apparently not everyone in the, uh, efficient market knew it, however; and KLIC promptly sold off, dropping below $20 at one point and closing at a bid of $20 1/4.
Even Green Tree shed a few leaves today, falling a half-point to $30 1/2 on the bid side. No news.
If it weren't for stalwart Texas Industries, the Borefolio would have gone 0 for 4 today. TXI was unchanged over all, but the closing bid price was up an eighth from yesterday's. I'll take it.
Maybe President's Day will be better than this Valentine's Day has been. I hear they've got some great mattress sales planned. Which reminds me: time for a nap. This day-to-day stuff can get *exhausting*. G'night, folks.
Today's Moves
GNT - 1/2 KLIC -1 1/4 POT -1 1/2 TXI + 1/8
Day Month Year History
BORING -0.97% 0.22% -0.28% -0.28%
S&P 500 -0.75% 3.08% 5.46% 5.46%
NASDAQ +0.07% 2.66% 4.52% 4.52%
Rec'd # Security In At Now Change
1/29/96 100 Texas Indus 54.52 60.50 10.96%
2/2/96 200 Green Tree 30.39 30.50 0.37%
2/9/96 100 Potash Corp 76.27 75.88 -0.52%
1/29/96 200 Kulicke & S 23.89 20.25 -15.23%
Rec'd # Security Cost Value Change
1/29/96 100 Texas Indus 5449.99 6050.00 $600.01
2/2/96 200 Green Tree 6077.49 6100.00 $22.51
2/9/96 100 Potash Corp 7627.49 7587.50 -$39.99
1/29/96 200 Kulicke & S 4774.99 4050.00 -$724.99
CASH $26070.04
TOTAL $49857.54