Tony - i went long yesterday at 50 3/4 - i don't want to keep adding to my position so i won't be buying any more - i found this on AOL news last night:
Citrix Shares Fall 13%, Continuing Slide, on Margin Concern
Fort Lauderdale, Florida, May 2 (Bloomberg) -- Citrix Systems Inc., a pioneer in adapting Microsoft Corp.'s Windows software for computer networks, fell for a second day as investors worried about the company's narrowing profit margins, analysts said.
Citrix shares fell 7 3/8, or 13 percent, to 48 5/8 in trading of 13 million, more than twice the three-month daily average. The shares fell 8.3 percent yesterday and have fallen 59 percent since March 6.
``Citrix has been saying for a long time that operating margins will decline, except it never happened,'' said Michael Cristinziano, an analyst with Gerard Klauer Mattison & Co. ``And now, over the past few quarters, we're starting to see it happen.'' Cristinziano rates the company a ``buy,'' and expects it to maintain strong profitability.
Citrix shares fell 20 percent April 20, the day after it said first-quarter net income rose 50 percent from the year-earlier quarter, to $38.5 million. The number of days it took the company to collect receivables widened to 59 days from 46 days, and its operating expense increase 68 percent. |
