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Bad Earnings Call


alpha
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Don't see it as a meltdown at all. Yes he was a bit harsh but from my understanding of the situation the GS analyst who he called out specifically used an incorrect share count in his earnings target which created the "miss". CLF based their earnings figure on 310M fully diluted shares outstanding whereas GS used 303M non-diluted. The CEO was understandably frustrated with the analyst's inability to check his own work and the market's response to CLF's "miss" which would have actually been a beat by a penny ($.67 vs $.66) if CLF had reported using the same share count. That's my understanding of the situation at least.

 

Listening to the call again, the suicide comment was directed at short sellers in general not the specific analyst from GS. Gonclaves and Musk should do lunch sometime, they can share notes on how to inflict maximum pain on shortsellers.

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