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Technology Stocks : Cadence Design Systems

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To: orkrious who wrote (489)	8/15/1999 10:28:00 PM
From: Carl R.	Read Replies (1) of 668

I disagree. CDN is being crushed because of how they handled their slowdown last year. They just kept reporting sales increases last year and kept giving rosy pronouncements as they went. Then suddenly they reported that while they had made estimates, they really had only done it for the last year by stealing from the backlog, and that now that the backlog was gone, this year they would focus on rebuilding the backlog, and would thus be reporting lower sales. Wall Street can see past a change in how they report revenue, and in fact they are strongly in favor of this change. On the other hand Wall Street doesn't like being misled. Top management resigned, and from here the company needs to re-establish credibility, and I'm sure that they will but it will take awhile. Still I think the company itself is OK and will recover. I'm sure they'll re-price the employee options downwards again to keep key people. After all, options are merely a form of entitlement, and they should not be considered in any sense to be a reward for performance, nor a reward for benefiting owners. Carl

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