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After the Bell - Beat the Old Number, Miss the New One
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A jeweler beat earnings and jumped 24%. A software company beat earnings too and lost 30%. The U.S. Treasury tripled its own bond buyback ceiling and watched yields rise anyway. Three completely different stories, one governing mechanism: it is never enough to beat the old number. Markets only pay out for beating the number they'd already priced in.
WHAT'S IN THIS EPISODE
On This Date in History — September 9, 2008: one day after Wall Street celebrated the Fannie Mae/Freddie Mac rescue…
The skinny
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