Via theaveragejoeinvestor.blogspot.com/:
...This was not only a big miss, but the company also guided down for the year. It sounds like they weren't prepared for the weather in Europe and that growth in Japan has not been as fast as expected. First, I'll say that the weather excuse is a no-no - I don't like it. Second, this is a sign that internal projections just aren't up to snuff. This doesn't mean that the company is in dire straights, but it does mean that you can't really realy on their projections any more, and that's bad news on Wall Street...
...Everyone but Brean Murray cut the stock from Buy/Outperform to either Hold/Sector Perform or even Sell. I can understand that an analyst may feel funny maintaining a buy on a company that missed like that, but when you have 30% taken out of the price, it's hard to say that the risk hasn't been factored in.
$17.34 (01/27/07)
Agree
Disagree
