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Technology Stocks : Corvis Corporation (CORV) -- Ignore unavailable to you. Want to Upgrade?


To: im a survivor who wrote (1316)2/8/2002 9:26:57 AM
From: im a survivor  Read Replies (2) | Respond to of 2772
 
Another thing that bthers me is recently with corv at about $3, HUBER spoke and he sounded very, very confident. He talked about how their technology was far superior to competitors, he talked about a very large customer they would be announcing soon ( this was quite a while ago )...he was very upbeat....he sounded like you were an idiot if you didnt believe in corv and that it was a steal at current prices and that he was sure they were near or at a bottom and have seen the worst. he promised big things and new customer announcements in the near future.....instead.....we find he made an aquisition which is quite questionable ( dorsal), came in with awful numbers and news that they may lose their biggest customer, while their other customer is still flundering and they said they dont see anything but flat to down for the foreseeable future.......his early pep talk got me fired up and when she dipped into the $2's, I started buying heavily again. Now, I must admitt, I am very perterbed that huber would give such positive statements...get shareholders excited about the future and thinking $3 is bottom........only to post awful numbers, lousy guidance and stock is being flushed quickly.......also, the sec really needs to look into this insider activity thing.....When I saw CORV starting a big drop recently, I thought to myself " the numbers and guidance are going to be bad.....they leaked the info to select people to get them out before the big plunge"....how else do you explain the stock goes from mid $3's to $1.40 in basically no time, right before they announce awful news.....certainly after his upbeat remarks recently, it wasnt the normal investor bailing prior to the numbers....huber had everybody fired up....yet the stock price mysteriously gets cut in half right before they come out with their awful numbers and guidance.......you cannot tell me that this bad news was not leaked...just as what happens on every publicly traded company......the sec really needs to do something about this......



To: im a survivor who wrote (1316)2/8/2002 12:40:42 PM
From: Daniel Simon  Read Replies (1) | Respond to of 2772
 
Corv appears to have about $1.8/share ($638M) in cash. They are burning about $0.15/quarter ($45M) assuming no revenue growth. With CORV under $1.5/share, market is discounting the next 2 quarters.

I agree that 4Q was fantastically bleak. $15M in revenues? Huber could buy more product than that himself. I am beginning to think that Huber is hallucinating this "unnamed" telco which is perpetually about to buy something.

Why is Corvis having so much trouble selling product? I thought this stuff (optical switching) reduced the cost of networks by massive amounts...