The market is trying to work out what kind of price people have to pay and whether it will cause other people to throw their hats in the ring. The situation has been kicked into play.
Tim Rees
The issue of downloads cannibalizing the album is a perfectly valid concern.
concern
Both results were ahead or at the top end of forecasts.
results end
This is clearly a pretty good performance in what's a seasonally quiet period. The fact that shares are down is simply a reflection of the previous good run the stock has had.
good quiet reflection fact performance run pretty
Overall, the results are ahead of expectations and it gives the company an argument to fight for in the ensuing debate which I think the shareholders are expecting.
results debate fight expectations company argument
people work kind market play price situation
What one learns is to take these with a pinch of salt, but clearly events suggest that it would be wrong to be complacent.
wrong events
I'm not in favor of hitting the panic button just because a sector is well out of favor.
favor panic
I remain cautious. I wouldn't be surprised if demand assumptions get revised down in 2006 and with supply coming on, that's going to have a negative impact on commodities prices.
negative impact assumptions demand
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