BIDding down for Sotheby's, but high hopes for Q4 - Tom Johansmeyer

Sign Up | Log In | What is SocialPicks?

BIDding down for Sotheby's, but high hopes for Q4
Nov 06, 2009 05:40 PM UTC

Tom Johansmeyer

Return	Risk
+28.18%	LOW

Tracked Blogger

Profile & Performance

Subscribe to author

Symbol	Sentiment	Start	Return	Closed
BID	n/a

Via BloggingStocks:

Filed under: Sotheby's (BID), Personal finance, Headline news

Sotheby's (NYSE: BID) had a great night this week, tripling the performance of competitor Christie's (OTC: CRUPF). But, it didn't come soon enough to help the company's third quarter results.

The auction house suffered from the art market slump that was exacerbated by the global financial crisis, posting a net loss of $57.8 million (89 cents a share). This is worse than the $47 million loss (73 cents a share) it delivered a year earlier. Three analysts that Bloomberg surveyed expected a loss of 29 cents a share. Revenue was off 41% to $44.9 million for the quarter.

Continue reading BIDding down for Sotheby's, but high hopes for Q4

BIDding down for Sotheby's, but high hopes for Q4 originally appeared on BloggingStocks on Fri, 06 Nov 2009 12:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

Read the rest of original post »

Add Comment

Be the first to comment on this story and earn 2 points.

Your Comment

IN THE PRESS

None of the information contained on SocialPicks.com constitutes a recommendation by SocialPicks or its users that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. SocialPicks is not responsible for the posts, discussions, and recommendations of the users on the Site. SocialPicks does not provide investment advice. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the website. SocialPicks' users' past results are not necessarily indicative of future performance. Neither SocialPicks nor any of its users guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the website. You understand and agree that you use the Site and Services at your own discretion and risk and that you will be solely responsible for any damages that arise from such use. Before acting on any information contained on the website, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.