OCA disappoints its shareholders today, not by releasing a bad earning release, but by not releasing an earning release. ARound 2:30pm EST, the company announced that it will postpone the earning release to March 15 and the conference call to March 16 to give more time to its independent auditors to finish their work. As recently as this morning, the company still confirms and date and time for the earning release and conference call. It is no wonder investors punished it by a 7.3% decline.
I received the news alert in the first minute and the idea of selling only occupied my mind by a moment. If I had sold, I would be better off $750 by now (the major decline happened around 3.15pm PST). This is the price of indecision.
I'm gradually losing confidence of the company. Although my OCA position is still $1,354 in the black, I dislike a surprise like this. Also, a scheduled release date so late in the earning season is another warning sign that financials are not well in control in this company. I am holding my breath for the Monday earning release now, and if key metrics (revenue, earnings, account receivable) are not encouraging, I will not be hesitate to part with my 1,500 shares.
A Sampler of Good Cash Parking Lots(February 02, 2006)
A while ago I complained about having too much cash at hand. The problem was only partially resolved in the past couple of months when I made some steady purchase of mutual funds and stocks. However, I still expect I will hold on six-figure cash ... Read
After Celebrex Fallout, Is Pfizer A Buy?(December 21, 2004)
First Vioxx, then Celebrex; red flag after red flag in the pharmaceutical industry. Almost three months after Merck (MRK) pulled Vioxx off the shelf, its stock lost almost 30%. And since Pfizer (PFE) brought the news that Celebrex might bring the same cardiovascular risk last ... Read
OCA's Legal Setback(March 07, 2004)
Bad news always come together: two of my portfolio holdings, TALK and OCA, each received an unfavorable legal decision. (I blogged about the TALK case in another post.) Read
TALK Down(March 07, 2004)
My most recently acquired position in TALK took a bloodshed this week after a disastrous court ruling that weakened the fundmentals of FCC's Triennial Review Order, especially the portion regarding UNE-P, the price structure allowing cheap access to regional Bells' network that TALK's business model ... Read
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