I took a BIG gamble yesterday and bought 10 shares of Google Stock yesterday at about $302 a share just before their 3rd quarter earnings came out. 10 shares doesnt sound like a lot but at $302 per share it was the most I was willing to gamble with on this stock. I figured if the earnings came out really bad I would immediately sell the stock after hours for a small loss. Google has not split its stock like most companies do. A stock split is partitioning the outstanding shares of a corporation into a larger number of shares, without affecting shareholders’ equity or the total market value at the time of the split. For instance, if a stock valued at $100 splits 2-for-1, an investor who owns 100 shares would now own 200 shares valued at $50. Splits usually must be voted on by directors and approved by shareholders.

So what happened:
Excluding $35 million in after-tax stock compensation and a $21 million write-down related to an acquisition, Google reported a profit of $1.51 per share. The analysts’ consensus forecast, excluding one-time items, was $1.36

Google’s revenue for the quarter totaled $1.58 billion, nearly doubling from $805.9 million last year. After subtracting the commissions that Google paid to other Web sites in its advertising network, the revenue stood at $1.05 billion, exceeding the Wall Street estimate of $944 million.

As I write this, Google’s stock sits at 348.61 a share premarket, Up 45.41 or 14.98%
The stock will likely to continue to go up today because of all the people that shorted the stock. When someone shorts a stock [sometimes called “selling short”], they borrow shares of a company from an investor and sell those borrowed shares at the current market price. The hope is that the stock price will fall so the short seller can repurchase the stock at a lower price and pay back the person they borrowed from. These short sellers will sometimes buy the stock to try and cover their losses.

Google’s new price target has been raised to $450 by at least 3 firms now.

Great news huh! Not all is rosy though. I also own shares of Caterpillar which did not have great earning and is currently down 7% premarket and overall, October has been pretty bad for stocks.

But this post is about Google, and I am darn happy with that Gamble.

GO GOOOOOOOGLE!

General | 1 Comment »

Not really new, but try and search in Google for “failure” or “miserable failure”

Look who is first. Then look who is second. (they should probably be flip-flopped with michael moore first).

Google got so much bad email from Bush supporters who were angry about that search and thought Google was making a political statement (their not) that they wrote a Blog entry about how it was accomplished.

General | No Comments »

I needed to send some code to Chris who was helping me with some work and attachments through Instant Messaging was not working for some reason. So, I said I’ll just email it to him.

He says, “Don’t worry about it, just paste it here, chris.pastebin.com

I said, “Wow, that’s pretty cool. I want one of those!”

He says, “um, just use tim.pastebin.com or WYW (whatever you want).”

I said, “Oh, cool”

Anyway, it’s a neat little resource if you want to quickly send someone some non-private code…

From Pastebin.com:
“Pastebin is here to help you collaborate on debugging code snippets. If you’re not familiar with the idea, most people use it like this:

* submit a code fragment to pastebin, getting a url like http://pastebin.com/1234
* paste the url into an IRC or IM conversation
* someone responds by reading and perhaps submitting a modification of your code
* you then view the modification, maybe using the built in diff tool to help locate the changes”

Click here for more info on Paste Bin

Cool Finds | 1 Comment »

Do you write your own blog? They have become hugely popular and believe me, I was late getting into the fun. Blogs in conjunction with Google Adsense (and other advertising methods) have also become highly profitable for some people. Though there are already many doing this now, I wish I would have started a whole network of Blogs on a variety of subjects and hire good writers to add content to them on a daily basis. It still could be a good idea but I have other priorities at the moment.

Back to why I started this post:

Yahoo News now contains Blog results along the right hand side of the search results.

For example, take a look here (it’s just a link to a search for “Yahoo Blogs” in Yahoo News). Look under “BLOGS BETA”

You can submit your blog for consideration (if they didnt already find it) through publisher.yahoo.com

Cool Finds | No Comments »

I have not posted on my personal blog as much as I had planned.

I was just looking at the traffic stats for this blog and it averages 17 unique visitors a day for the first 5 days of October (most from bookmarks). It’s not very many visitors, but then again this blog is pretty new and promoting it is not a big deal to me. Its just a place for me to post about whatever is on my mind.

By the way, the last two days (Oct 3rd and 4th) have been pretty horrible for stocks. It wiped out a good chunk of my unrealized gains. I still think next year will be a Bull market but I am highly worried about Oct through Dec of this year.

As much as I like to write about stocks and such, I don’t think most of you are interested in that kind of stuff so I save most of those types of posts for a new top secret site I am working on

Take Care!

General | 2 Comments »