Overdue for new Leadership (or at least some leadership)
Clearly Bob and Joe are not capable of leading this company to success, it is time to bring in someone who brings more to the organization than smoke and mirrors (blame Europe, rogue executives, deals that slipped, but never their fault).
There was some hope that the sale of Covisint might add some value to this stock, but word is that they only plan to sell a small percentage of it, with CPWR retaining a controlling share. Does not sound like a wise purchase for anyone looking for a profitable investment.
Declining mainframe revenue is a given, but making up a billion dollars of revenue through subscription revenue from APM and Covisint is an incredibly steep incline.
Downgrades today for EPS accuracy for both Mike Lattimore of Northland Securities and Kirk Materne of Evercore, both have been following this for years, not a good sign.