If you only read the headlines, you'd think that Blockbuster Video had the best day ever yesterday.
The Evening Bridge: Blockbuster Profits Surge Amidst Restructuring
CNN: Don't count Blockbuster out
MSN Money: Blockbuster finish for movie-rental co.
Let's get real for a minute here: BBI opened at $3.25, and popped to $3.32 before slumping to close at $2.73 which, let's not forget, is near the company's 52-week low. Bully for them for having a great earnings number (relative to their recent history) but it seems premature to break out the champagne just yet.
The Evening Bridge: Blockbuster Profits Surge Amidst Restructuring
CNN: Don't count Blockbuster out
MSN Money: Blockbuster finish for movie-rental co.
Let's get real for a minute here: BBI opened at $3.25, and popped to $3.32 before slumping to close at $2.73 which, let's not forget, is near the company's 52-week low. Bully for them for having a great earnings number (relative to their recent history) but it seems premature to break out the champagne just yet.
They shouldn't kid themselves, it's great that they're getting their operational ducks in a rock, but they still have a long row to hoe before they can be considered a winner company again.
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