Sears Holdings Corp. is taking a beating on Wall Street.Don't fret, this is justifiable assault.
Today, the company said it's second quarter earnings would be down nearly 46 percent, paving the way for a dismal 2007.Investors are angry. The stock is down nearly 17 percent--a fall that comes despite major investor and company Chairman Edward Lampert's plan to increase the company stock buy-back effort by $1 billion. Lampert is a huge fan of stock buy-backs because it's a nifty way of giving shareholders (like himself) a large dividend without the tax consequences.
As stated here before, investors' love affair with this stock and Lampert is a mystery to me. So it seems like a good time revisit an earlier post on Lampert and Sears. Click here
1 comment:
Every dark night is followed by a bright sunny day. So, patience and attention is required and things will be fruitful in near future.o There is nothing called a free lunch is this world. If anything needed to be resolved then initiated need a support to be sorted out.
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