If you're feeling good about the market, you're not alone. Take my hand as we go over some of this week's more uplifting headlines.
1. Simmer down
Shares of Green Mountain Coffee Roasters
The end result is that Green Mountain overstated its earnings over nearly four fiscal years by a cumulative sum of a mere $0.05 a share. It also reported that none of the restatement figures relate to its fulfillment partner -- which had sparked an SEC investigation two months ago.
No one likes a company when it has to use corrective fluid on past financials, but there were too many cynics arguing that the sky was falling at the company behind the increasingly popular Keurig single-cup java brewing system and its K-Cup refills.
Who needs to take advantage of buying when there's blood in the streets when a trickle of coffee will do the trick?
2. Big numbers from the big screen
IMAX
There were $16.1 million in ticket sales across the 340 IMAX theaters screening the film, and that's with a few countries, including France and Korea, still a couple of weeks away from showing the flick.
All you need to know is that this is Part 1. Just wait until the second and final installment hits IMAX theaters worldwide next summer.
3. What can Brown do for you?
The laces aligned for Brown Shoe
Same-store sales rose an impressive 10.6% at its flagship Famous Footwear concept, and growth at the wholesale level to value-minded retailers grew even faster. Shoes may not always be sexy, but a usually sleepy company hitting the cover off the ball in both of its playing fields is a heart-shaped bed in a honeymoon suite.
4. Crew cut
There will be no more public collar-popping for J. Crew
Bulls may lament that a 15% premium isn't much, but we have to take a longer view than that. Keep in mind that J. Crew went public at $20 just four years ago. There aren't too many retailers that have doubled over the past four years. The market sure hasn't doubled in that time.
Let's also consider the trend at J. Crew. Three months ago, analysts figured that the retailer would earn $2.34 a share this fiscal year and come back with $2.58 a share in net income next year. Those same targets now stand at $2.12 and $2.33, respectively. In other words, three months ago the pros were banking on J. Crew to earn more this year than they now think it will ring up next year.
Take the money and run, preppies.
5. Tending to my virtual farm at 35,000 feet
Google
It is teaming up with three carriers -- Delta
The move may help the three airlines drum up some last- minute holiday travel passengers, but the real winner here is Google. It gets to help consumers while also beating the message that connectivity should be free. As the world's leading platform for online advertising, it's obvious why Google would want blanketed coverage on the cheap.
Have a nice flight, Big G.
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