Revenue recognition issues are embarrassing, but not unusual. I wouldn't necessarily jump to the conclusion there is more to it. Let's see how it all pans out.
happens all the time. Not good that accounting didn't catch this earlier. But the revenue is still there and will be recognized in a different qtr. So what....
Don't know how many times this has been said for NEWL, but the last 30 minutes of trading has seen a small pop in volume and increase in price. Has NEWL finally found some support? I think the close will be important. A close of .38 or higher will be very positive indicator.
Based on the pre market, it looks more like an upgrade more than a down grade. Oppenheimer changed price target to 31. Also, Needham downgraded to a Buy from strong buy.
I agree. The next quarter revenues are projected 10% lower. That coupled with the acquisition are giving reason for some to bail. But getting x+1 definitely strengthens their position. A little panicking now, but we will have to wait and see what analysts think of the acquisition.
No bounce today. Very disappointing and surprising. Down bad on a down day, with more to go for the markets. What was I thinking buying this? no matter how good it looks.
Today is a pretty steep punishment for an earnings estimate that is a little lower then expectations.
This almost a 4 Billion$ business with positive earnings every quarter. This is a really attractive entry point for a long term position. Buy with both hands on this one!!
Sentiment: Strong Buy
If part of employees severance came in stock, then 30 days is about the time they would be able to sell. The selling started yesterday, 7/30. Small float, a few employees selling...that adds up to me what is happening yesterday and today. If so, this will recover to 30 area.
". The consulting business is expected to be classified as discontinued operations, effective July 1. As a result, the company expects to record a one-time pre-tax cash charge of approximately $840,000 in Q2 resulting from severance to be paid to employees affiliated with the consulting business."
hey Sin, volume steadily increasing and price is stabilizing above $1.05
I was wondering the same. Bashers are claiming "resistance at 1.30", going down, crashing now..."
But what if this holds comfortably above $1??? hmmm
volume is lower than recent days. When this went to grey sheets, I don't everyone is able to trade it. I could not buy shares online, I had to call my broker. Not everyone is aware it went to grey sheets or can trade it there.
It will get better though.
It was inevitable that NEWL would go to .09 and test it again. No big surprise. I am guessing that NEWL is just about satisfied with this latest shakeout. A close between .09 and .10 looks in the cards to me. Then a higher move on momentum next week. (how high next week a bit hard to figure)
Ya think!!??! Of course it is oversold! Knee jerk reaction here. A lot to played out yet