On May 28, 2002, StockDiagnostics.com issues a press release on its downgrade of Sears OPS Ranking. Sears' shares @ $56.15. More...
On August 16, 2002, StockDiagnostics.com downgrades Sears OPS Ranking for its second consecutive quarter. Sears' shares @. $47.22
On September 2, 2002, The OPS Newsletter, which is published by StockDiagnostics.com, issues a warning on Sears. Sears' shares @ $43.90. More...
On September 29, 2002, in a Chicago Tribune article StockDiagnostics.com's Director of Research says that Sears reporting of record profits and negative cash flow is a "financial anomaly that should be raising red flags for investors". Sears CFO denies any cash flow problems and says that "analysis is flawed". Sears shares @ $39.00. More...
On October 3, 2002, StockDiagnostics.com's Director of Research says in Chicago Sun Times article that Sears is "risking uncollectible credit-card debt as the economy sours". Sears' executive counters that the "quality of Sears credit-card portfolio is excellent" and that there is no credibility to StockDiagnostics.com's assessment. Sears shares @ $37.59. More...
On October 4, 2002, Sears' announces the abrupt departure of the president of its credit card division. Sears' shares @ $37.64.
On October 7, 2002, Sears' announces that its 3rd quarter EPS will be lower than expected and will be in the $.80 to $.82 range. Sears shares @ $32.25.
On October 17, 2002, Sears' announces EPS of $.59 per share, well below its guidance of $.80-$.82 that it had given ten days earlier, and attributes the shortfall to problems with its credit card receivables. Sears shares plunge to a ten year low of $23.15. More...
Note: Up to and including October 28th, Wall Street has not issued any sell recommendations on Sears for the duration of 2002.
An October 31, 2002, Dow Jones Newswire story on Sears, StockDiagnostics.com's Director of Research says that Sears third-quarter regulatory filings will show "a huge number for negative operating cash flow... we wouldn't be surprised to see them generate a negative half-billion dollars."
November 12, 2002, Sears' files 10Q for 3rd quarter, which indicates $928 million in negative operating cash flow.
