Archive | November 2012

SM Strikes into Earning Shock leading to fall – Analysts in panic

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SM Strikes into Earning Shock leading to fall – Analysts in panic

Nov 14, 2012

http://m.news.naver.com/read.nhn?mode=LSD&mid=sec&sid1=101&oid=366&aid=0000090504

SM Entertainment (CODE 041510) showed earning shock [economic performance shows a lot lower than expectation]. Its business profits in this third-quarter were below analysts’ estimated profit – which were less than half of estimated figure.

SM submitted its report of this quarter to the Financial Supervisory Service at 14:12 without any public announcement. According to the report, its business profits for third-quarter was 11.7 billion KRW. It was more than the last third-quarter, but a lot less than expectation of stock market. Analysts had estimated its third-quarter’s business profits to be 20~23 billion KRW.

The stock price responded immediately. It started to falling slowly right after its report, and hit the floor of the lower limit at 14:25.

[irrelevant part omitted]

Analysts at stock firms are in a state of confusion and it is…

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