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SCO Shares Plunge, Canopy Management Change

Posted by samzenpus on from the that's-a-shame dept.

bretberger writes "Shares in Utah's SCO Group went into a tailspin late Tuesday as news spread of both deepening losses and an apparent coup at the software company's corporate parent, the Canopy Group."

9 of 400 comments (clear)

  1. SCO Insider Trades by Anonymous Coward · · Score: 5, Informative
    Here it is- the regular SCOX insider trades report! Sell, sell, sell- even while it was going up.

    12/07/04 BAYSTAR CAPITAL II L P Beneficial Owner of more than 10% of a Class of Security 10,000 Open Market Sale proceeds of $45,870.00

    12/07/04 BAYSTAR CAPITAL II L P Beneficial Owner of more than 10% of a Class of Security 6,100 Open Market Sale proceeds of $28,745.00

    12/01/04 BAYSTAR CAPITAL II L P Beneficial Owner of more than 10% of a Class of Security 15,000 Open Market Sale proceeds of $61,767.00

    11/30/04 BAYSTAR CAPITAL II L P Beneficial Owner of more than 10% of a Class of Security 70,500 Open Market Sale proceeds of $273,550.00

    11/24/04 BAYSTAR CAPITAL II L P Beneficial Owner of more than 10% of a Class of Security 60,000 Open Market Sale proceeds of $216,181.50

    11/22/04 BAYSTAR CAPITAL II L P Beneficial Owner of more than 10% of a Class of Security 37,500 Open Market Sale proceeds of $131,250.00

    11/19/04 BAYSTAR CAPITAL II L P Beneficial Owner of more than 10% of a Class of Security 10,000 Open Market Sale proceeds of $35,000.00

    11/17/04 BAYSTAR CAPITAL II L P Beneficial Owner of more than 10% of a Class of Security 10,000 Open Market Sale proceeds of $35,465.00

    11/08/04 BAYSTAR CAPITAL II L P Beneficial Owner of more than 10% of a Class of Security 100,000 Open Market Sale proceeds of $372,615.00

    11/05/04 BAYSTAR CAPITAL II L P Beneficial Owner of more than 10% of a Class of Security 22,000 Open Market Sale proceeds of $80,900.00

  2. Re:WOW! Now it's cheap! by pclminion · · Score: 4, Informative
    This isn't funny, it's lame.

    Anybody who "bought low" today (around 10:00 AM) and sold at market close made a cool 14%. The price started its correction near the market close, and will probably return to close to its Monday levels.

    I mean dude, look at the charts. Notice the volume spike at around 10:00 AM. It was this sudden accumulation move that caused the prices to turn back around. The whole game is purely psychological. Today was certainly a good day to buy SCOX.

  3. 5 year trend by Skiron · · Score: 3, Informative

    As seen here:

    http://finance.yahoo.com/q/bc?s=SCOX&t=5y

    SCO started the attack on Linux first (early 2003) when their stock was at the lowest point, and it paid off a bit - until now - and they are back where they started, except now everybody hates them :)

  4. don't forget... by ecalkin · · Score: 5, Informative

    The state of California putting an end to sneakwrap EULAs!

    eric

  5. Re:How will this affect Trolltech ??? by mcc · · Score: 5, Informative

    Canopy's investment in Trolltech is absolutely tiny. As far as I am aware nothing that could possibly happen to Canopy would affect Trolltech at all.

    --
    Irritable, left-wing and possibly humorous bumper stickers and t-shirts
  6. Re:News? by bckrispi · · Score: 4, Informative

    Reading the article, It looks like the "cap" just means that $31 mil will be the most Boies & co. can charge when this fiasco is finished. This was in exchange for more lucrative terms should SCO win a settlement/be bought out. It doesn't mean "as soon as we spend $31 million, we're dropping the suit".

    --
    Xenon, where's my money? -Borno
  7. Re:"Plunged?" by Megane · · Score: 4, Informative
    I'd hardly call a drop of 7.5% a "plunge."

    Especially when the stock was 25% lower less than two months ago.

    I do have to thank SCOX for one thing, though. They got one of the Groklaw readers to pester UCal for a copy of the secret AT&T/BSD agreement under a Freedom of Information request. As it turns out, there wasn't any thing scary in there after all.

    --
    #naabhaprzrag, #sverubfr-000, #agi-fcbafberq, negvpyr[pynff*=' negvpyr-ary-'] { qvfcynl: abar !vzcbegnag; }
  8. Another number: 99% drop by Embedded+Geek · · Score: 3, Informative
    I love numbers. You can look at them any way you want and make up nearly any story you want to go with them. While some posters are talking about "only a 7%" drop in SCO shares and say this is nothing, you can look at another number and become tingly with delight at a 99% drop in SCO's licensing revenues, from $10.3M 20034Q to $120,000 this 4Q (Forbes story with ads here). This was the big contibuting factor in a total revenue drop of about 60% (and resulting stock drop).

    Naturally, the truth is somewhere in between. This is bad news for SCO's strategies. That does not mean McBride won't be able to convince his minders to hold the course and continue with litigation. Strictly speaking, at this moment, they're still convinced. Neverhteless, it's obviously a bumpy road ahead for them.

    So, don't throw a victory party yet, but I think we're all entitled to spend a few minutes smirking.

    --

    "Prepare for the worst - hope for the best."

  9. Re:but the real question is... by Ohreally_factor · · Score: 3, Informative

    Then there were a series of mergers and renamings that I didn't really follow. And there they are now.

    They sold their Unix licensing business (which they had bought from Novell) and their name to Caldera. Caldera changed it's name to SCO, and (old) SCO changed their name to Tarentella.

    So, that's not them that are there now.

    --
    It's not offtopic, dumbass. It's orthogonal.