These clowns like JP Morgan are actually quite useful. Just do the opposite of whatever the say and you'll make money.
Wow only a few weeks ago:
pSivida Ranked 59th Fastest Growing Company in North America on Deloitte's 2011 Technology Fast 500(TM)
I believe that roughly 5 years ago we entered a golden age of computer-controlled metalcutting machinery. The productivity gains and the job capabilities provided by modern machining centers is so overwhelmingly advantageous, it becomes difficult to argue against purchasing them except in the worst of economic downturns. The ease-of-use of Hurco's WinMax software, the unbelievable power of the embedded computers, the precision of the cutting heads, and the affordability of Hurco's lineup are all contributing to a powerful golden age never before seen in this industry. And this Fall Hurco will introduce their latest and most impressive design for what is arguably the holy grail of CNC machines: an affordable five-axis machining center. There is almost nothing you cannot make with the push of a single button using a five axis machine.
My feeling is that the stars have lined up for this industry, and tremendous growth lies ahead even in spite of broader economic cycles. They are not immune to economic cycles, but they are not the sensitive cyclical butterfly they once were. The capabilities of modern machining centers, particularly Hurco's product line, is too good to douse demand to the degree seen during previous economic cycles. This is a golden age of CNC machines.
From PR, continued growth from large new products:
Of note is our entry into the large machining center category and expansion of our 5-axis lines and multi-tasking machines. The 5-axis machining centers and multi-tasking machines are in demand as customers worldwide require increased productivity to remain competitive. All of these machines will be part of the biggest new product introduction in the company's 40-year history, which will be held at the International Manufacturing Technology Show in September,'' said Doar.
Nice schtick shorty, but the cc was exemplary with professionalism and all appropriate information at their fingertips. I wish all cc's went so well.
You would think management would have something to say when the stock tanks 40% like this on no news - not very considerate to shareholders to say nothing. This has been an unprecedented decline in the stock. Have they really nothing to say?
Disagree. Here's what they said from PR:
"We are currently expecting earnings per share to be in the range of $1.17 to $1.37 for fiscal year 2008." That makes them darn cheap at current price.