Posts for Ticker ‘SCUR’

The 52-Week Low Club (AIG, GAIA, HANS, LORL, PLA, RCL, SCUR)

Today was a larger day on the wall of shame in the 52-week low club.  There were some new names and some old familiar names.

American International Group (NYSE: AIG) was down almost 2% at $38.20 late in the day.  Some funding deals in the billions just aren’t that well received.  This had managed to get just back above the low part of the range of $38.15 to $72.96.

Gaiam Inc. (NASDAQ: GAIA) was down 4% at $14.59 late in the day, which was slightly above the prior 52-week low; range of $14.49 to $30.73.  Not all green lifestyle media stocks are created equally; better get the spin-off soon.

Hansen Natural (NASDAQ: HANS) was down almost another 2% late in the day at $28.00, prior low was $28.20 and high was $68.40.

Loral Space (NASDAQ: LORL) was down over 9% at $19.90 late in the day, prior range was $20.04 to $51.56.  This isn’t regularly on the wall of shame, but the company posted a wider loss Monday.

Playboy (NYSE: PLA) better get the Heff’s doing something.  This one keeps getting worse and shares were at $5.58 late in the day; under the $5.84 to $12.00 range.  How much is that L.A. mansion worth?

Royal Caribbean (NYSE: RCL) was down 6% at $29.31 late in the day; prior range was $30.04 to $45.17.  So much for borrowing against the house to take a cruise.  At least the people can choose who they have dinner with now.

Secure Computing (NASDAQ: SCUR) was down 4% at $4.94 late in the day, not so secure it sounds like.  Prior range $5.05 to $10.54.

Jon C. Ogg
May 20, 2008

Posted on: May 20, 2008 – 2:41 pm in HI/LOW, , , , , , ,

The 52-Week Low Club (LBY)(AHG)(ARGN)(SCUR)

Libbey (LBY) Still falling a few days after lowering guidance. Down to $11,67 from 52-week high of $24.65.

Apria Healthcare (AHG) Slipping with industry. Drops to $16.08 from 52-week high of $31.57.

Amerigon (ARGN) Concern about last week’s modest earnings. Sells off to $10.92 from 52-week high of $22.35.

Secure Computing (SCUR) Lose widened on lawsuit. Still selling off. Falls to $5.22 from 52-week high of $10.54.

Douglas A. McIntyre

Posted on: May 5, 2008 – 2:50 pm in HI/LOW, , , ,

The 52-Week Low Club (FMD)(GRD)(GRMN)(SSCC)(SCUR)

First Marblehead (FMD) Fears about student market loans hit company. Down to $4.62 from 52-week high of $45.70.

Agria (GRD) COO leaves and annual report delayed. Shares down to $4.03 from 52-week high of $17.

Garmin (GRMN) Competition warns on earnings. Drops to $48.02 from 52-wek high of $125.68.

Smurfit-Stone Container  (SSCC) Concerns in the paper industry due to rising costs and and energy prices.. Sells off to $7.02 from 52-week high of  $14.08.

Secure Computing (SCUR) Lowers earnings forecasts. Sells down to $6.01 from 52-week high of $10.54.

Douglas A. McIntyre

Posted on: April 8, 2008 – 3:01 pm in HI/LOW, , , , ,

The 52-Week Low Club (SGP)(MRK)(MO)

Schering-Plough (SGP) Bad news on key cholesterol drug marketed with Merck. Shares fall to $14 from 52-week high of $33.81.

Merck (MRK) Pulled down for the same reason. Sells off to $36.82 from 52-week high of $61.62.

Altria Group (MO) Stock down because of spin-out of international unit. Falls to $21.95 from 52-week high of $87.81.

Ampex Corp (AMPX) Files Chapter 11. Drops to $.38 from 52-week high of $20.83.

Secure Computing (SCUR) Brokerage firm downgrade. Moves off to $6.27 from 52-week high of $10.54.

Citrix (CTXS) Companies like this and VMWare (VMW) suffering from concerns about growth of vitualiztion software busiess.

Douglas A. McIntyre

Posted on: March 31, 2008 – 2:59 pm in HI/LOW, , , , , , ,

Secure Computing Defections Raise Eyebrows (SCUR)

Secure Computing Corp. (NASDAQ:SCUR) has ‘reaffirmed its guidance’ after yesterday’s close.  The press release notes that it expects to meet or slightly exceed its billings, non-GAAP revenue and non-GAAP earnings-per-share guidance ranges, which were provided on July 26th for the third calendar quarter.  But it is the "Other Corporate Matters" that looks suspicious:

The company announced that Vincent M. Schiavo, senior vice president of worldwide sales, and Dr. Paul Judge, chief technology officer, have tendered their resignations from the Company effective in the first half of October 2007. Both Mr. Schiavo and Dr. Judge advised the Company that they were resigning for personal reasons.

John McNulty, chairman and chief executive officer: "On behalf of Secure Computing, I would like to thank Vince and Paul for the hard work and contributions that they made to the company.  We wish them all the best in their future endeavors."  It would be interesting to see what he really thinks about the head of worldwide sales and chief technology officer bailing at the same time after new products and initiative have been launched.

If you have followed this company, you will know that company reaffirmed guidance in mid-September as well.  But it simultaneously announced that one of its directors was resigning his position, also due to personal reasons.  The company did recently name Daniel Ryan, a former Oracle and Stellent executive, as chief operating officer at the end of August and said he’d be responsible for Worldwide Sales, Marketing, and Product Development. 

We received a statement from the company in an inquiry, "Both Vince and Paul have moved on for personal reasons, and we thank them for their many contributions.  With two sizable acquisitions over the past two years the company has undergone tremendous change, and has largely reinvented itself.   Their assistance in the integration of technology, products and people has helped us to achieve a market-leading position, with strong momentum and a rich portfolio of products entering into Q4 and beyond."

I was also told that these were not firings and that it was the "personal reasons" issue.  I have not found anyone on record willing to state that Daniel Ryan, the new COO, is driving on the other side of the road.  This would make one raise some questions.  The company can reaffirm guidance all it wants.  But this is the sort of issue that makes a skeptic look for fire around the smoke. 

Jon C. Ogg
October 4, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he produces the SPECIAL SITUATION INVESTING NEWSLETTER and he does not own securities in the companies he covers.      

Posted on: October 5, 2007 – 7:29 am in Management Change, ,