UK bank Barclays (BCS) already tried once to argue that its share price collapse was unwarranted, but the stock has only fallen since then. So in case you didn’t get it the first time, here’s take two.
The company says it will: “will report a profit before tax for the year well ahead of the consensus estimate of £5.3 billion ($7.4 billion).”
That means it will, for the year, have earned well more than its lowly $4.89 billion market cap. Like many other banks, its moving its earnings report up to early February just to get the news out quicker. The stock appears to be reacting favourably, moving up 50% pre-market.
Barclays: We’re Doing Awesome, We Swear!