Tell me about it...I think I hit breaking point this morning and just decided to focus on the top 3 reports I read. Too hard to try and read/trade it all. And today's only the beginning...yikes :/
As for RXP, been holding for a while. I anticipated 1H to be soft given the nature of the IT business and the way budgets are spent. But it has come out and beaten most expectations IMO.
Deferred considerations are now much more manageable, there was a time when this was a bit of a risk to the balance sheet.
All in all I thought the open was pretty cheap on an EV/EBIT basis at <6x and added some then, as well as some all the way back down to 61.5c. Lots of churn expected between 55-70c as there was a big following of RXP prior to the smashdown and I assume alot of "I want my money back" sellers.
EDIT: The only thing putting me off is the cheer squad type posts that are now coming up in the RXP threads. This didn't end well last time!
