Ceragon Networks (CRNT -15.9%), a maker of mobile backhaul infrastructure gear, gets crushed...


Ceragon Networks (CRNT -15.9%), a maker of mobile backhaul infrastructure gear, gets crushed after reporting Q3 results. While revenue of of $116.1M (+86% Y/Y) and EPS of $0.02 beat consensus by $2.1M and $0.01, the company is forecasting revenue will grow "at a slower pace than originally expected," due to macro uncertainty and Indian regulatory issues.

Comments (2)
  • Gunther Karger
    , contributor
    Comments (35) | Send Message
     
    The statement that the 15% drop results from the comment from Ceragon that it will grow at a slower pace is mathematically a ceetainty as the percentage gain over a 100% increase in revenue has to slow. Analysts and traders used this as an excuse to create a profitable trade by issuing negative comments and probably shorting. This is the type of manipulation and industry self serving that destroys investor confidence. the fact is that Ceragon is doing better than well but bnow that tyhe stock has crashed, investors will believe there is something wrong and stand aside while the maniulation continues until the analyst/traders have taken in cheap enough to buy back and then issue positive statements. This is nothing new and one practice which needs regulatory attention
    8 Nov 2011, 07:08 AM Reply Like
  • Gunther Karger
    , contributor
    Comments (35) | Send Message
     
    author of books "Thieves on Wall Street" and "Wall Street Fraud"
    8 Nov 2011, 07:10 AM Reply Like
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