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CFR

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BullsnBears
Contributor
Richemont announces a 43% drop in operating profit and the stock is up 7%? What am I missing here? Does the market like the board change that much?
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8 REPLIES 8
Super Contributor
Maybe the "clever" boys were expecting a drop of 60%. My view is that in the current climate the share is still pricey
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Super Contributor
How about newplat up 1% and the Plat index down 4%? This market's crazy at the moment.
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BullsnBears
Contributor
Strange. Maybe someone knows something the rest of us don't.
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BullsnBears
Contributor
Down on just about every metric - sales, profit, margins, cash flow. I can't find anything positive in the these results that would justify such a big move - now at almost 10% up. This thing should be 10% DOWN.
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Super Contributor
What were the out lying views on results?
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Super Contributor
Looks like cfr is the only gainer in the top 40 at this stage.
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BullsnBears
Contributor
Good question. They did warn that profit would be down about 45% in September. So that's where they came in today. You would assume the market would've already priced it in. At worst the stock would stay flat but how does it end up rallying 10% then?
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Super Contributor
Our market is now on the same level as 1969 - Most expensive it's been in 46 years
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