The market won't quit. Just when I thought the market was going to rest, the bulls come storming back. Our E-Loan (EELN) stock that I picked up June 4th at $5.15 closed at $6.81 up another 7+%. Synovis that I picked up on May 21, 2003, at $14.54 (!), closed today at $24.68 up another $.84. I went ahead and sold 150 of my EELN for a quick 30% gain and another 50 of SYNO for about a 70% gain (!) in a month. Unbelievable! With the money, I made an initial purchase of 150 shares of DKS....Dick's Sporting Goods. We have reviewed DKS in this Blog earlier.
Looking through the lists on CNN.Money, Outback Steakhouse showed up. This has been an old favorite of the growth stock crowd...and is the home of the famous 'bloomin' onion'. If you haven't had one of those, it is worth the trip to the Outback!
I sound like an advertisement and no, I don't own any shares of this stock. I mean, I really can't own them all, can I?
Outback had a great day closing at $39.76 up $2.43 or 6.51%. I don't see any news to explain the jump. They did report on May 29th that same store sales were up about 1.4% for domestic Outback restaurants....is that anything to write home about?
On April 22nd, Outback reported their first quarter results, and per the NYTimes on the Web, reported net income was $45,067,000 or $.58/share compared to $36,963,000 or $.46/share for the same period ending march 31, 2002. Revenues for the quarter were up 12.6% to $651,678,000. Now that's a lot of Chicken on the Barby.
Morningstar shows a steady growth in annual revenue from $1.4 billion in 1998, $1.6 billion in 1999, $1.9 billion in 2000, $2.1 billion in 2001, and $2.4 billion in 2002. Free cash flow has been a bit erratic with $100 million in 2002 dropping to $28 million in 2001 and back up to $156 million in 2002.
Assets and liabilities appear pretty evenly balanced.
The company looks nice fundamentally and is behaving quite well technically. Definitely a possible purchase for your portfolio.
Hope everyone has a Happy Tuesday! Bob
Please email me at bobsadviceforstocks@lycos.com if you have any questions, comments, or wish to give me any words of encouragement! Thanks for stopping by.