The Finance Professor

The Finance Professor: Beginner's Guide to Earnings Calls

 

Tying It All Together

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After the call, take a look at the post-call market reaction to the results and the call itself. Now, compare the company's results with the expectations you researched prior to the issuance of the quarterly results, and interpret the future guidance provided by management. Tie this all together and establish or modify your prior price target for the company. Finally, execute or plan any action in your portfolio.

This week's homework: Prepare for, listen to and analyze an earnings call. There are plenty to choose from; just go to Yahoo! Finance's Conference Calls Web page and take your pick.

As always, you can email me your homework and thoughts on the subjects covered in this or previous articles. I will compile the best ideas in a future module of TheStreet.com University.

>To order reprints of this article, click here: Reprints

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At the time of publication, Rothbort was long AAPL and GOOG, although positions can change at any time.

Scott Rothbort has over 20 years of experience in the financial services industry. In 2002, Rothbort founded LakeView Asset Management, LLC, a registered investment advisor based in Millburn, N.J., which offers customized individually managed separate accounts, including proprietary long/short strategies to its high net worth clientele.

Immediately prior to that, Rothbort worked at Merrill Lynch for 10 years, where he was instrumental in building the global equity derivative business and managed the global equity swap business from its inception. Rothbort previously held international assignments in Tokyo, Hong Kong and London while working for Morgan Stanley and County NatWest Securities.

Rothbort holds an MBA in finance and international business from the Stern School of Business of New York University and a BS in economics and accounting from the Wharton School of Business of the University of Pennsylvania. He is a Professor of Finance and the Chief Market Strategist for the Stillman School of Business of Seton Hall University.

For more information about Scott Rothbort and LakeView Asset Management, LLC, visit the company's Web site at www.lakeviewasset.com. Scott appreciates your feedback; click here to send him an email.

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