Ann: Profit Guidance, page-171

Does get much more disappointing than this does it? An incredibly hard hold for sure.

They are overspending to remediate the PFS mess, which is having a compounding impact of programs and growth being delayed. Add to this the optics of the Chair selling more stock pre-downgrade, and a the Bain story being leaked immediately after the escrow window opened, management are not covering themselves in glory. Finally, global tech is going through the worst rout since the dot.com crash, so it's the perfect storm for a fairly gutting drawdown.

IMO, unless you really believe the model is completely broken, I think you'd be a bit crazy to crystallise losses down here. There's still groth happening here, and at this price it's basically a value stock. Add to that, someone has got to be looking at it for a takeover. On the flip side, if it doesn't look like CBI issues has been fully resolved by June 30, it might be worth just moving on.