Here is a well written, albeit not-too-uplifting article about CS. It is worth reading.
redherring.com
We have broken $15 1/2 support level. Based on the large block trades as reported by Tim, this could be short term selling by a large holder without enough buy interest to keep support (why put in a GTC at 15 1/2 if, by removing it, you could see 14 5/16?). This is not good. The buyers are gone.
This portends no deal. The arbitrage players would support the stock, if nothing more, as long as they felt a deal was coming soon. Arbitrage play now values the "deal" at 22 1/2, which would mean no deal. Piyush is looking to get Extreme our Foundry like valuation if he sells, and it ain't going to happen. $25 was the price, is the price, and I'll bet he's not selling at that price.
The good news? Piyush thinks they can get the share price into the 30's on their own merits and by spinning out (unlocking the value of) some of the pieces.
Still long CS, not selling, and not in Hawaii (small joke).
PS. Stocks to watch
ARTT @ 11 1/4 - Wireless service provider, looking for 13
NTRO @ 24 1/2 - Wireless equipment, looking for 35
INTC @ 68 1/8 - Looking for T-Bill Safety with 25% next year?
TTPA @ 15 1/8 - Coming out of quite period, look for major US card issuer announcement (I wonder if it means anything that an ex-VISA exec is on the board?) COMP to CYBS and you can see the compelling story.
Just want to "add value". |
