RE: In Defense of SternThe CFO is the quarterback of any business that is publicly listed. He plays a major role in the pricing/bidding process, expense control, revenue recognition, all major business development decisions and most certainly all financial guidance & setting expectations with the analysts & shareholders. Stern has failed miserably lately in many of these areas. Everyone is left confused wondering what to expect next. I think he should be replaced so we can start fresh and rebuild investor confidence.
As for the stock I think the expectations were very low. The balance sheet looks great and they can easily afford to buy back large blocks of shares. If investors can look past the lousy communication from the management and short term challenges and focus on the earnings potential starting in Q3 then they might see the stock is still a good buy here longer term. As for myself I am still overweight, getting hit yet again but looking down the road for better days. I think we should all pressure the company to clean up the erratic issues around the business operations and setting of shareholder expectations. Cheers!!!