RY is the symbol. What sis I miss here. They reported 20% better than they expected, so how come there wasn't a reflection of that in the stock price?
2006-08-25 08:43:48 · 5 answers · asked by ufdan25 2 in Business & Finance ➔ Investing
Earnings were up, and beat expectations even.
But the Canadian banking sector was down - and sector moves can trump individual stocks move.
And Royal Canadian's earnings weren't as good as they looked -some came from lower tax rate, some from riskier businesses (like trading) as well as lower loan loss provisions - so there was a quality of earnings issue.
And RY didn't report as well as TD did earlier - and RY had been bid up a bit since TD's earnings in anticipation of something comparable or better.
2006-08-25 12:30:47 · answer #1 · answered by TJ 6 · 0⤊ 0⤋
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2006-08-25 16:06:12 · answer #2 · answered by stock_trade_expert 3 · 0⤊ 0⤋
Most likely because the banking sector as a whole is down today
2006-08-25 09:39:43 · answer #3 · answered by Romans 1:22 4 · 0⤊ 0⤋
Manipulation?
2006-08-25 08:48:56 · answer #4 · answered by Anonymous · 0⤊ 0⤋
What goes up always comes down. Investors must feel it has peeked.
2006-08-25 09:20:44 · answer #5 · answered by Michael S 3 · 0⤊ 0⤋