Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
It goes from bad to worse for Filtronic plc (FTC) – with the shares, already down from more than 80p less than two years ago, today falling a further near 20%, to a current circa 14p, on an announcement that “it is now clear to the board that the revenues from Wireless in the latter months of the second half will not build up as quickly as expected”, that “the board is investigating a number of measures to strengthen the balance sheet with permanent capital” and that CFO “Rob Smith… has replaced Alan Needle as CEO with immediate effect”. The following reviews…
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