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VeriFone Systems, Inc. Message Board

  • tmurphy227@verizon.net tmurphy227 May 24, 2012 7:08 PM Flag

    Heh Vinny!!

    I must be missing something here. These numbers are on track. I see no disappointment. I see no differences re 2 months ago. As for currency, this is minor issue. What's going on?

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    • The devil is in the details, murph.

      Net income came in low.

      They're guiding down for the next two q's.

      Currency isn't as minor an issue as you'd like to believe. FX took about 10 mil off revs and knocked a couple cents off earnings.

      Add in a recession in Europe, a China slowdown, contagion, and who knows what else, there's no basis for near-term bullishness.

      Not to mention the short that's out on this stock. They have a lot of money power.

      You can make an argument that the stock is oversold, but I never argue with the tape. I took my gamble on good earnings, lost, got out. Done.

      I'll tell you something else: I didn't like the fact that they bumped up the earnings schedule, as if earnings were going to be great; and I didn't like that PayPal announcement this a.m., again intimating great earnings. My mistrust of management has grown. I'll trade the stock, but as a long-term investment, I'll watch from the bleachers. Show me a blowout q and reconsider.

      I have yet to regret selling my position at 49+.

      gl