this stock never really opened after the negatvie announcement. It was halted all afternoon. I would expect that it will be very erratic trading tomorrow morning. It that other people's perception as well?
I was home today and kept checking for news and for any new trading. The stock may be trading after hours ( anybody know, and if so, what results).
I see three negatives coming together at the same time: the old news about nir on sox, the delay in announcing results about the acquisition, and now the accounting problem with Japan results. Hell of a pileup of bad news all at once, and not much to balance it.
But contrarian investors like to take the long view and buy stocks that are depressed, temporarily, they hope. I understand at least some heads will roll over the Japan issue. That ought to make the rest of the company shape up some.
My guess is that it will open lower, maybe a good deal lower, and guys like me will come in and buy. Over the next week it may go lower, but over the next year I see it going back up where it was this summer--65 to 80 or so.
I expect that it will open $4-6 lower than the halt today. I also expect it to rebound but close lower than today. Fear will drive this lower, the question is how long have the revenue recognition issues been going on, is it limited to Japan, how does the change impact reported market share etc. BSX hopes to have answers to these questions within 2wks which will make it a LONG 2wks for the shareholders. I'm waiting for the Stock_Detective to signal all clear to BUY.