Via financialskeptic.blogspot.com/:
Heinz (HNZ) released substantial Q1 financial information this morning essentially predicting their financial results which are to be released on Aug 24. The annual shareholder meeting is today.
The stock has dropped from early July from $48 to $42 and change. Technical traders note it appears to breaking through support levels. Management seems a little concerned before the meeting and desperately needs to point to something positive.
Annual meeting dates and quarterly release announcements are usually well orchestrated. Heinz wants to detract from its annual meeting and any potential shareholder questions by focusing on the upcoming Q1 earnings release. The AGM is in the middle of Aug when traditionally many are away on holiday. But this mornings announcement is not a full Reg FD release. Its just a teaser about what they think will be in the results nine days from now. Because you see the accountants are still accounting so that's all they can lay out. To bad everyone showed up for the AGM but more important news will be coming out in nine days so do not get to excited about anything right now.
This drip style disclosure limits the ability of investors to maintain context . Good news is trumpeted. Not so good news will be on page two.
$43.67 (08/16/07)
