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Investors had already braced themselves for a bad quarter and a near-total reset of expectations at small med-tech company Accuray (ARAY), and the company actually came through with a slightly better quarter. Even so, investors apparently didn't like the fact that management didn't improve its order or revenue guidance, and/or the announcement of a $100 million convertible debt offering.

I've spoken at some length regarding my frustrations with Accuray, and my continued interest (and ownership) in the stock comes down to this - Accuray has developed some radiation therapy systems that offer solid advantages over the systems sold by Varian (VAR) and Elekta (OTCPK:EKTAY). If the company can effectively manufacture, market, and support these...

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