I have thought for some time now that Wall Street badly wants to believe that VeriFone (PAY)
can turn around its business, and the reaction to the company's third
quarter earnings backs that up. VeriFone went out of its way to lower
the hurdle for this quarter - to a point where a gopher could clear it -
but pre-market indications on the stock seem to suggest that this was a
meaningful beat for the company. Suffice it to say, I'm not a VeriFone
bull. I believe the right CEO hire could make a real difference here,
but even a 10% growth estimate doesn't point to much value.
Please click this link for the full article at Seeking Alpha:
Wall Street Too Eager To Believe In VeriFone's Turnaround
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