“Novell today announced that it had received a staff determination notice from the NASDAQ Stock Market stating that the company’s common stock is subject to delisting from the NASDAQ Stock Market. The notice was issued in accordance with standard NASDAQ procedures as a result of the delayed filing of Novell’s quarterly report on Form 10-Q for the period ended July 31, 2006.”
If I got into this much trouble with my poor paperwork I’d never run late again!
I guess everyone in novell has been busy in product development including the finance guys so they miss the filing deadline?
Nah, they’re doing a “voluntary audit” of the accounts before filing.
since The SCO Group is still listed on NASDAQ. :@)
Didn’t everyone say that “now that Novell has Linux, business is going sooooo well”.
Interesting, for some reason I have a feeling that is not true… Is Novell SGI the next generation?
I dare you to show a quote that says something to that effect, one that isn’t from an idiot.
Novell’s business situation is complex. It’s trying to react to its declining Netware business, which still makes most of its revenues, by building up its Linux business. This business is just a few years old, in a market where product cycles are 3-5 years, and the first “Novell-developed” SuSE came out just last year (previous releases built on SuSE 9, which was developed before the Novell acquisition). Their Linux business is growing, but it’ll take awhile before its big enough to take over for their Netware business.
As for the delisting, it has nothing to do with the finances of the company. I’d presume its the result of the internal audit, which is spurred by the investigation into the granting of stock options to employees. Their stock price is nowhere near de-listing (over $6 a share), and its over twice what it was in 2003, before the Linux push.
Their Linux business is growing, but it’ll take awhile before its big enough to take over for their Netware business.
It’s going to have to grow by a few thousand percent to do that, and there’s no evidence that the market is going to accommodate Novell there. Do the maths.
Someone from the top, actually familiar with what they do, is going to have to think long and hard about what market they’re in.
Well, Jim Clark doesn’t have anything to do with Novell, so they have that going for them.
Well..Novell IS doing better…but the “markets” are full of fickleness…so there isn’t always a complete connection between the two. They aren’t in GREAT shape, but yet, Wall Street tends to be impatient and the markets are reflecting that…
If they make the right moves…Novell will get through this. They are starting to make money again, even if only a little…
..Nothing to see here, move on..This is SOP for NASDAQ. Dozens of companies get these every quarter.
It’s just an official notice to get off their ass and file the required paperwork.
Major compnaies get them all the time and no one ever hears about it..it’s nothing exciting
Whether it is ‘nothing’ or not…I’d still take notice if I were a shareholder.
If they’re delaying because of a voluntary audit…there could be a surprise in store for shareholders, such as a restatement of results for previous quarters.
Wall Street doesn’t react well to such surprises, nor should it.
Which is of course why Novell announced the internal audit at it’s last quarterly reports.
Hopefully most shareholders are more informed than you are.
Hopefully most shareholders are more informed than you are.
Oh, what rapier wit!
Pfffftttt…considering Novell’s past and present…informed Novell shareholders is an oxymoron
)))