Not SMART ! Stock Offering After an Earnings Miss !
Who came up with that idea ? You can bet the offering will be delayed but the damage is already done.
I think stock offerings should be outlawed anyway because the MGMT. Steals value from the shareholder. It would be the same result if the company asked you to send in hard cash instead of the offering the end result is YOU not the company, lose. If they need money go borrow it from the Bank or with bonds or get it from stock buybacks that they could do when times are good.
Not a happy day but I knew it was coming in my 0300hrs post this morning. Another thing, ONLY the company know when those offerings are to take place, but you have no idea ! That is so unfair ! You have no time to prepare but they do.
They didn't miss earnings. Take out your calculator and figure it out.
I'am an Engineer not an accountant. I trust the people that are expert in that field . This very site Yahoo shows a loss of 0.02 from estimates (25%). Bottom line most people say they had a miss and that's really all that counts. Why do you think the stock dropped 3 plus dollars, because they met the estimates ?