So much doom and gloom. What if it really was one small customer?
I know the shorts are chomping-at-the-bit excited about tomorrow but what if RS comes out and explains that there was a minor error that is leading to the restatement? Do we really think he would make such a statement if he wasn't sure about it? How would he benefit from that? And if it is all negative tomorrow, why wouldn't they come out with this on Friday? Is RS really so inept as to give the worst possible news on Tuesday morning?
Am I worried? Yup. But I'm not convinced that RS is a bumbling idiot.
And one small customer's accounting errors can't extend over several quarters? Hey, I know this isn't great news and I'm sure you'll make a lot of money tomorrow if you're short but I like looking at the bright side.
RS isn't a bungling idiot! none of the CEO's are, they trained how to lie though. would you agree knapp is a idiot? since he is sill employed and he is the one who signs off on all the auditing???
you wont get the worst tomorrow, he will say as little as he needs to, weird part is the stock action today. seems the leak still in place? to bad they got the wrong info about what be said after hours.
Unless the news tomorrow really isn't that bad. And honestly, do you think he would lie at this point? In the middle of an SEC investigation? In the middle of an internal audit? I don't know... I guess we'll see tomorrow.