Hello readers. Hope you all are having a great week so far. What a great day for Jabil Circuit (JBL). The company reported better than expected earnings hitting an EPS of 0.40 vs. the expected 0.33 and forecasted record profits and 
revenues for its final quarter of 2010. That help send the stock soaring. I exited at 14.88, entering at 13.80 yesterday. That gave us a gain of nearly 9% for JBL. We are still holding our week long position in LEN. We are down quite a bit here with this one. We got involved at 14.68, and the stock is sitting at 14.25 currently – a drop of 3%. The stock has amazingly moved into the green despite the hit to new home sales. It appears that we will be awaiting earnings tonight and selling tomorrow.
We all love the Overnight Trades, so on this down and out day, I though we should try another…
Overnight Trade: Discover Financial Services Inc. (DFS)
Analysis: The credit card industry has been one of the toughest hit by the Great Recession. Credit card delinquencies and changes to credit card regulations. One such company, Discover Financial Services (DFS), the maker of the acclaimed Discover card, has seen its stock dip 50% over the past three years throughout the recession. The company, tomorrow, will be reporting quarterly earnings that should show the company turning to a profit in its Q3 of 2010 versus one year prior and sequentially. The company is projected to earn profits per share at 0.09. Last year, the company for Q3 earned profits per share at -0.18. A move to profit would be yet another great sign for the economy and DFS.
There is good reason to believe that Discover can have some great movement tomorrow out of earnings. The data coming out for the credit card industry is outstanding. Credit card delinquencies saw a decline for the fifth straight month as 2010 has seen more and more citizens being able to pay off their credit cards. In May, credit card delinequencies fell to 4.95% from 5.2% in April for Discover Financial Services. The company was second in delinquencies behind American Express for the month. The company will be reporting on the results of March – May. The company in March and April also saw their write-offs
for debts that had been delinquent for more than 180 days dropped but then rose again in May.…
