RE: RE: RE: MFC @ $16.00+My friend, please just jinx the darn stock.
You jinxed it at $16.00 and it nearly broke $17.00... we can live with that !!
Agreed that MFC is oversold and the low should have been about $20.00.
Two years ago MFC was trading over $20.00 and if MFC was moving in tandem with the
markets and interest rates, it surely didn't
Because the markets and interest rate went up, but MFC went down.
Also if interest rates should stay at 2.5% for the next 25 years it will not affect MFC anymore,
they already wrote off the interest rate drops to that level.
Again shares were issued at $19.00 so the value should not be diluted below that.
Q3 earnings at this point should be about $2.6B.....taking off taxes, hedged costs, exchange rates etc
we should still see an earnings per share of about $1.00
Q4 earnings will shoulder the $2.2B goodwill writedown, but will be offset by the normalised profit and the tax credits....... a loss of about
.50 EPS which might be less if the markets & interest rate continue moving up.
Opinion only of a bushhog