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Investors Bailing On SCO Stock, SCOX Plummets
HailDorothy writes "SCO's stock price is plummeting in the aftermath of Judge Kimball's ruling that Novell owns the UNIX copyrights, as we discussed earlier. '[W]e will continue to explore our options with respect to how we move forward from here,' SCO said in a public statement issued in a futile attempt to calm investors. SCO's stock price has fallen 70 percent during trading today, reaching a 52-week low. It looks like the end is near for SCO, which still owes Novell 95 percent of the SVRX UNIX royalties it collected from Microsoft and Sun through the SCOsource program. As Judge Kimbell noted in his ruling, it's unlikely that Novell will ever be able to collect on those royalties."
*opens champagne*
Ah the sweet smell of victory!
Now bring on Microsoft!
Wait... um....
Damn... this ain't gonna be so easy.
Where's the Tylenol?
Another consultant who stuck it out.
"We are the Priests, of the Temples of Syrinx..."
When are we going to get to see Darl McBride's head on the end of a stick? Or is that asshat not going to be accountable?
The most surprising thing here to me is that this implies some share holders actually believed SCO had a case here.
Beware: In C++, your friends can see your privates!
If a naked Morgan Webb giving away free Wii systems, then we'll know our time has come.
" looks like the end is near for SCO, which still owes Novell 95 percent of the SVRX UNIX royalties it collected from Microsoft and Sun through the SCOsource program."
Actually, the deal was that SCO remits 100% to Novell, then Novell pays them a 5% commission. Kimball ruled that SCO broke their fiduciary duty to Novell; SCO is no longer able to claim the 5% commission.
The only question left is how much of the Sun and Microsoft licenses were for Novell's stuff?
Fake Steve Jobs scooped it: he claims SCO has filed a new lawsuit--it's suing itself and its executives for incompetence in bringing about and losing the UNIX lawsuits. He's kidding, but I'll bet they thought about it a least for a minute or two ;-)
It really makes you wonder just how dumb some people are. Who throws money at a company making outrageous claims like that with out doing some homework to see if they even have a shred of proof to stand on?
I would be really interested to see how many people, besides people that work for SCO, invested more that $10,000 in their stock. If you're dumb enough to invest in SCO how did you make money in the first place?
"There are four boxes to be used in defense of liberty: soap, ballot, jury, and ammo. Please use in that order." -Ed H
I think this whole thing was
A) Pump and Dump SCO stock
B) A Microsoft Trial Balloon
The pump and dump worked pretty well. A bunch of SCO execs sold stock and made money at the expense of the future of the company Microsoft funded part of this lawsuit to harass linux users and see what would happen if they started suing linux users and distros as well.
You'll notice they won't even tell you which patents of theirs linux infringes now. SCO got bad PR instead of them and IBM got good PR for defending linux.
Contrary to popular belief, Unix is user friendly. It just happens to be particular about who it makes friends with.
If I'm reading Google's finance page correctly, almost 6 million shares changed hands today.
http://finance.google.com/finance?q=scox
Stock cannot sell if someone isn't buying. Who's buying?
Now I know about "short" and "long". But that's more easily described as a bet where you bet the stock will go one way and someone else bets the stock will go the opposite way. I understand about people having to buy stock to cover a mistake in a short/long. But that's an awful lot of shares being purchased.
I don't believe that there were than many people betting that it would go up again. Not with the approximately $9 million dollars it would take to have that stock last Friday.
Who's buying the stock and why are they buying it?
I can understand everyone wanting to sell it. I don't understand anyone buying almost 6 millions shares of it today.
Unless it's another scan by SCO to buy stock options from their executives. Trying to empty the company's coffers before Novell gets its cut or IBM beats them.
I prefer to call them SCOX, 'cause that rhymes with... what they are.
What I want to know is: who is still stupid enough to buy the stock at 50 cents? Haven't they figured out yet that the next step for SCO is bankruptcy liquidation in which the stockholders get -zilch-?
Moderating "-1, Disagree" is simple censorship. Have the guts to post your opinion.
If my parents used retirement funds to invest in SCO I would cry inside. I raised them better than that.
"There are four boxes to be used in defense of liberty: soap, ballot, jury, and ammo. Please use in that order." -Ed H
As of April 30, 2007, SCO had $19.847 million in total assets (which includes no intangibles), and $12.654 million in total liabilities, according to the Reuters data
The ruling on the Microsoft/Sun royalties owed to Novell adds roughly $25 million to the liabilities, making SCO worth roughly -18 million dollars, book value.
None of SCO's copyight claims involve their own code. They involve "Original AT&T code." The only SCO code demonstrated to be in Linux is the stuff labeled "Copyright Caldera" immediately followed by a GPL-2 license.
No, Sco basically said that they retain ownership on the parts they added to unixware( which don't affect IBM's code which predates that). It is relevant in its on going trial against Novell. part of the deal was that novell agreed to non compete with Sco as part of the deal. Sco's arguing that distributing linux ( that does have unix code in it, according to Sco ) unfairly violated the non-compete clause in their contract.
Well.. maybe. Or Maybe not. But Definitely not sort of.
We are fucked, and are desperating trying to think of something to save our selfs.
If you mod me down, I will become more powerful than you can imagine....
You mean a scorpse? scorpsicle?
Infuriate left and right
Based on the misery that is in store for them personally, Darl, Yarro and the lawyers all have to figure out how to save their hides. They might be able to do that if they can point to any evidence that points at Microsoft. That would direct IBM's attention away from them and IBM might be grateful. Otherwise, they will probably lose all the ill-gotten gains they have accumulated so far.
I'm just looking at this as a stock trading opportunity. Anything dropping like this just has to bounce!
Hot-St0ck in the c0mput3r Industry!! Current Profile The SCO group, Inc.'s (OTCBB: SCOX) Symbol: SCOX Current Price: $0.37 3 day Target: $0.70 2 week Target: $1.25 Watch this one trade starting Wednesday Morning and Especially all this week. A huge PR Campaign just started and the price is expected to rise quite nicely. Its only trading at .37 with big increases possible! Judge to
rule on possession of huge part of UnIX market!
* Act Fast and Early! *
Weaselmancer
rediculous.
I don't believe any of this FUD about Novell owning Unix and SCO going down, and I won't until I hear about it directly from Laura DiDio. She's always right, isn't she?
Please stand clear of the doors, por favor mantenganse alejado de las puertas
The immediate problem is that, with this ruling, Novell stands to collect a lot of money from SCO... by some accounts, double their cash on hand. They effectively own SCO, and between them and IBM, will probably take the company, its products, and its cash during the bankruptcy proceedings. Darl will be given a tin cup with which to entice the residents of Salt Lake City to charity.
Anyone who loves or hates any language, platform, or manufacturer, doesn't know what they're talking about.
> Anything dropping like this just has to bounce!
Looking to cash in on the 'ol dead cat bounce? Considering SCOX has always managed to bouce back over the $1 mark to avoid delisting I suspect you might be right. Not going to bet money on it though, this time even former cheerleaders like Daniel Lyons at Forbes say they are dead. Darl has a big ol fork sticking out of his forehead.
Yes they will file a desperate appeal with every court that might possibly have jurisdiction. No it isn't going to help them do anything other than drag this thing out to the end of the year, January at the best. Then it is over and the patent wars will move from saber rattling and into the shooting phase.
Democrat delenda est
Don't get me wrong, these guys deserve everything that they get for their cheesy actions in the last several years against Linux. However, now, looking at their demise, I can't stop thinking how did they get there, when they were once "the rebels" against "the establishment" back in the day.
I started my career as a technical support engineer for SCO Xenix in the late 80s, back in the time where Larry Michaels was there. They had the vision and an excellent code base. I had customers running up to 16 Wyse terminals on a 286 system under Xenix running COBOL applications, and even more could be achieved with SCO UNIX on the 386...
I know this is just a nostalgic thought and that the SCO I'm referring to has nothing to do with its current incarnation. I hope this can be used as a lesson for Canonical and other very successful ventures that can really become the next best thing: don't become arrogant and forget your values and where you came from. Companies change, but at the end of the day, it's all about the people and how you contribute to make your and our lives better.
Anything dropping like this just has to bounce!
It may make a splash, but most people just flush it.
Friends don't help friends install M$ junk.