Al--I'll be happy if CRNR just meets earnings.
Thanks for your informative post. You know far more about Cornerstone's product position than I do, and I appreciate the info.
I would never count on an unpside surprise for any stock I hold. I realize that many people do for certain momentum stocks, like Iomega circa 1996, which leads to "whisper" numbers, unofficial estimates above First Call or Zacks, which leads to a disappointment if the stock merely meets the "official" estimates.
I don't think we need an upside earnings surprise for CRNR to break through 10 by Fall (although it would be nice to have this "gravy"). Cornerstone did not get that much "oomph" from its last three consecutive earnings surprises, in part because it was placed at the bottom of the earnings surprise list (when it deserved 1st or 2nd place), for reasons I don't fully understand.
If CRNR just meets estimates, I think that a full year of positive quarters will convince the Street that CRNR has really turned it around.
Without sounding like Oliver Stone, I think there is some game-playing going on now, with some market-makers wanting to panic some weak hands into giving up the stock at bargain prices before CRNR's customary run-up around earnings. In light of today's low volume, especially at the closing price, it looks like hardly anyone is falling for it. |
