Retay and I, along with a few others, have gone on record about the First Quarter figures which are due to be released on May 13th. By making the CEO switch sooner rather than later, they are hoping to blunt some of the negative impact. Given the way Wall Street has reacted to the appointment of Ullman, I doubt their maneuver will be very successful. Stock will take a hit when the numbers are released. Further potentially looming Joker in The Deck is Ackman. Will Ackman (who ousted Ullman in the first place) take money off the table in a Vornado-like move?
A lot depends on what Ullman will do and how soon he is able to do it. But, IMHO, prospects for the next six months are relatively dim at best.