WaveStrength Market Trends for November 9, 2006
Sell Advanta Corp. for Gains!
by Ann Sosnowski
As I mentioned a few days ago, the free Market Report stock play on Advanta Corp. (ADVNA:NASDAQ) that I recommended to you earlier in the year is finally showing adequate gains. So I’d like to take them off the table.
The business credit card company posted immaculate earnings with net income coming in for the third quarter at $21.1 million or 73 cents per share.
Since October 31, the earnings release date, ADVNA has risen 9.00% in value.
If you followed my advice, and purchased shares of ADVNA for $32.83, you’re up 16%. For a free play and five months, that’s not bad!
SELL YOUR ADVANTA CORP. (ADVNA:NASDAQ) SHARES AT MARKET.
And as always, I’d love to hear from you about your gains. Write me at wavestrength@taipangroup.com with the subject line: “Advanta Gains.”
Now on to some more news concerning the print newspaper industry, building on my article last week…
It’s a testament to the “rebirth” of an industry when billionaire businessman Eli Broad and supermarket king Ron Burkle bid for the Tribune Company (TRB:NYSE). But that’s just what’s happening.
In fact, even David Geffen wants a piece of the “new era” of print newspapers, as he may be making a bid for TRB as well.
Also in Tribune Company news is that Dean Baquet was replaced by the Tribune Company as editor of the Los Angeles Times because he wouldn’t make cost cuts.
Previously, the Tribune Company had tried to sell the company while declining circulation was hurting their newspapers.
But now it seems that TRB, along with other major print newspapers, could be worth much more now.
As I stated earlier in the week, Google Inc. (GOOG:NASDAQ) is planning to offer advertising space for the top American newspapers, including Tribune Company. TRB also invested part of $15 million to Topix.net, a site that collects online news content and separates it into categories.
With expanding exposure on the net, TRB is making the right decision to sell itself for a higher price now in light of the possibilities of the new era of news, finally melding print sources and online sources together.
There’s nothing better than selling a promising concept over a blatant reality.
It seems a little myspace.com-esque don’t you think?