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Technology Stocks : Rockwell-Spins off Conexant (CNXT)
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To: MeDroogies who wrote (1852)1/2/2001 6:15:20 PM
From: The Ox  Read Replies (3) of 2013
 
I believe that CNXT's mgmt has a credibility problem at the moment. Their Dec 20 announcement of a 20% shortfall in revenues from previous projections is quite remarkable. Channel stuffing, higher inventories and reduced demand combined for a 1-2-3 knockout punch barrage. Only a fool would believe that the company didn't know what was happening sooner than Dec 20 and by the stock's reaction, I bet quite a few folks knew what was coming down the pipe.

I believe that their lack of coming clean until the last moment only adds to the egg on the faces of CNXT's mgmt.

That said, I have a feeling we are at or approaching the stage where the risk/reward ratio is tilting in favor of reward. There is a lot to be said about not catching the falling knife and waiting for a solid reversal. EPS estimates for the immediate future are atrocious right now and this will weigh heavily on the stock,IMO.
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