Billabong’s stock went into a trading halt soon after the market opened yesterday, according to Australia’s the Age and now analysts are stuck trying to figure out exactly what that means.
You’ve got two choices,” one analyst said. “A capital raising for who-knows-why, or a profit downgrade. Or if you want to be really, really wild, how about an upgrade. There’s enough anecdotal evidence to say it’s not on the upside.” . . .A second analyst agreed, saying: “Most of the market’s expecting their profit to come in below their guidance, but not dramatically so.”
We’re not even going to guess on this one. We’ll all know soon enough. But it doesn’t sound good.
[Link: The Age]
