IGT Reports Profits of $121M versus Expected
$96M, Stock Jumps 10%
01/19/2006
International Game Technology Inc. (IGT),
a manufacturer of slot machines, today reported quarterly
profits of $120.6 million versus Wall Street's consensus estimate
of $95.8 million. The 26% disparity caused IGT's stock price
to surge more than 10% in trading today on volume ten times
greater than normal.
IGT was added to our Bear
Market Portfolio in May and its stock is up over 29%
despite the absence of a bear market. In fact, the whole portfolio
is out-performing the S&P 500 since its inception.
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