Reseller,
As I see it, Friday morning before the bell, was the last instant that he could release the info and still be on 'this side' of the 30 day quiet period. IOM announces their quarterly results the night before options expire, and that is 30 days from yesterday. Remember he also said they would announce the charges before the period, so they just barely did...... What would have been said if they waited and then announced?
FWIW, he is going to be on CNBC on Tuesday, during Power Lunch. He is going to be among a whole passel of other CEOs, each demonstrating the 'new technology' that each is featuring at PC Expo. I doubt that he will get more than 2 or 3 minutes of air time. I also think he will claim 'quiet period' rules when asked about future financials.
But, I look at it a little like CPQ's situation from the day before. CPQ is restructuring, company in turmoil, no clear product plans, leadership, people leaving wholesale, etc. So CPQ pre-announces againand only takes an intraday hit, in fact ending up fractionally. Why? Well, the talking heads are saying 'they are taking this time to dump out all the bad news and take all the charges and set themselves up for good news going forward'. Is this what IOM is doing? Who knows? Dunn, Glorie perhaps.
But I can also remember IBM just after Gerstner took over.... the executives were leaving in droves. Wall Street was humming with 'how can they survive if so and so is leaving', 'Gerstner hasn't a clue', 'old technology, mainframes are going to get killed by the new technology PC's', etc .... Remember that IOM is restructuring and people may be realizing that they aren't going to be the next CEO or have their hard earned 'internal empires', so.....
If you want the 'big tell' for IOM, watch what DUNN and his Idanta Partners do with their money.
JMHO,
Ben A. |
