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Rainheavy2002
5 Comments
'Good As Goldman' Not So Good
Profiting from Panic-Selling in Trina
High Tide for SiRF Technology
On Apr 24 07:37 PM Alan Brochstein wrote:
> The Truth -
>
> How is it going? I typically don't "gloat", but your comments were
> particularly rude. Hey, I mentioned IOM, and they FINALLY got acquired.
> This is the future of SIRF. It will be acquired by someone who will
> buy there technology and fire all of their workers and strip out
> the cash on the balance sheet.
>
> As far as this 2nd miserable quarter, the inventory ROSE again -
> $2.5mm sequentially and $11.5mm from a year ago despite sales being
> down $38mm from a year ago and $5mm sequentially (including the acquisition!).
> Guidance, not surprisingly is somewhat short of diminished expectations.
> If they hit the high-end of $64mm, it will represent a decline of
> $6mm. No wonder margins will be flat to lower. THEY HAVE TOO MUCH
> INVENTORY. On a bright note, they did get the receivables in line.
>
>
> For those who are attracted to this stock, invest looking ahead and
> not in the rear-view mirror. The stock is broken because the company
> is broken. The cash will dwindle as the losses accumulate. While
> "cash" appears to have increased, keep in mind that AR came down
> a lot. So did "marketable securities". The proof of the situation
> is at the end of the balance sheet - Equity came down $20mm or 4%
> in just 1 quarter.
>
> Companies in retrenchment run into trouble - their customers get
> worried, their employee morale plummets. Do yourself a favor and
> tread VERY cautiously here. Disclosure: No position in the stock
> or any semiconductor company at this time
Meredith Whitney Threatens Severe Deflation For Your Portfolio
I Don't Trust This Market Rally