several people i know have indicated that cdn will have to announce a ceo at the earnings announcement. some have even suggested that if cdn cannot announce a new ceo, then they will delay their earnings announcement.
i have to agree that announcing earnings with the "interim" executive lineup will certainly not help cdn with the street, customers or employees. but to delay their earnings announcement will also hurt.
so what do people think, or even better, what have people heard??? will cdn announce a new ceo at their quarterly earnings??
Cadence Announces Accounting Review and Postpones Release of Third Quarter 2008 Financial Results and Webcast
well there you go. while the accounting thing is a problem, that added with the fact that they don't have a ceo picked out yet, earnings are delayed. so how LOWWWWWWWWWWWW can we go?? are we talkin' penny stock here??
Gonna be an interesting show today no doubt, but not because of the numbers. Those were already released in Fister's walking papers notice, since Q3 was already closed from a bookings side by then.
Things to look for
- beyond the CFO, who takes the stage in the CC - Shoven ? - what's the plan going forward beyond "find a new CEO" ? - are there any CEO favorites ? Pull in old Cadence favorites like Penny H or Jim H., promote internally, find another EDA retread, or pull in someone from outside EDA (Carly Fiorina is avail) ?
Oh, come on ... there's no way they're postponing the earnings call. Cadence reset guidance to a level they were comfortable could be attained. Mr. Fister and the others either left or were asked to leave, but it doesn't really matter -- while the mass exodus was unconventional, the Street has already assessed and digested it. Cadence might have its problems but life goes on.