“Riddle me this: Why is it that Apple Computer and other Nasdaq companies are getting delisting notices after missing a single quarter’s earnings, yet the likes of Krispy Kreme and American Italian Pasta remain listed after not filing for multiple quarters? Answer: The New York Stock Exchange is far more lenient,” Herb Greenberg reports for MarketWatch.
“Will any of these companies caught in the options dragnet, including Apple, be delisted? Unlikely, and Apple isn’t alone,” Greenberg reports.
Full article here.
Related articles:
Apple CEO Steve Jobs drawn into stock options scandal – August 15, 2006
Apple announces update regarding stock option grants – August 11, 2006
As expected, Apple delays quarterly results due to stock-options grants review – August 11, 2006
Some stock options grant decisions were made by Apple board, and potentially, CEO Steve Jobs – August 10, 2006
Disney: no material impact from Pixar options – August 09, 2006
Pixar options draw scrutiny – August 08, 2006
Apple stock options scandal? What scandal? – August 07, 2006
Class action lawsuit over stock options filed against Apple Computer, Inc. – August 04, 2006
Wall Street forgiving of Apple’s stock option irregularities; CEO Jobs unlikely to be terminated – August 04, 2006
Apple’s stock option irregularities escalate into a scandal as world awaits Steve Jobs’ WWDC keynote – August 04, 2006
Apple warns of profit restatement dating back to 2002 – August 04, 2006
Apple loses 3.5% to $67.15 in premarket trading – August 04, 2006
Apple announces update regarding stock option grants – August 03, 2006
Shareholder’s options suit against Apple alleges ‘striking pattern that could not have been chance’ – July 11, 2006
Apple announces update regarding stock option grants – July 05, 2006
UBS: stock options probe unlikely to hurt Apple – June 30, 2006
Apple joins growing list of companies entangled in stock option ‘irregularities’ – June 29, 2006
Apple to investigate stock option grant ‘irregularities’ made between 1997 and 2001 – June 29, 2006
Not going to happen, and why am I getting errors posting?
NASDAQ need AAPL and it’s growth to improve performance VS. DJI!
That helped. Third time lucky I guess
hmmm…let’s see now…
1. Dell recalls fire starter…cost: estimated $400 million…
2. Apple has great quarter…
3. Apple taking lap top market share…
4. Apple Mac’s sales taking off…
5. NASDAQ threatens de-listing…
Hell, if I were Steve, I would delist myself and get the hell out of the US markets and go register on the FTSE or the DAX…get out of “Da Game” on Wall Street…or start paying off analysts and Wall Street Journal geke speakers who are and have demonstrated their conflicted (read bought and paid for) opinions…
Greenberg knows whereof he speaks. In situations like this, his inside track and insight are almost always right. He’s saved my sorry butt more than a few times.
The whole options story will make lots of noise. (Let’s face it: most of the stories on MDN are mostly noise – with all due respect to the first website I look at each day, little of what I see here is REAL news of any substance. That’s not a critique – it’s simply reality.) But if you look at the price of Apple stock, you can see that the smart money has discounted any possibility that this issue is going anywhere. It’s great canon fodder for blathering pundits. But Wall Street is deadly serious about its money. If you want to see how the Street has placed its bets, just look at the price of Apple stock. It’s not cratering, and that should tell you what you need to know.
Reality: Volatility is absolutely required for the denizens of Wall Street to make money.
Reality: Wall Street ‘pundits’ (read: scribes) make money by reversing themselves in their articles every other day, i.e., it sells newsprint and pays their checks…the supposed ‘technical traders’…what a laugh…
Reality: Analysts are in the same boat, but they get to update their story every other week…their chutzpah is fabulous…and bs…the supposed ‘fundamental’ view…what a laugh…
Reality: “If you like the product, buy the stock” Warren Buffett
Reality: Kramer is the only scribe worth anyone’s time; all the rest are conflicted, except the Financial Times and the Economist, all the rest are hack bs artists with a monthly dole…with a mantra: volatility, volatility, volatility…bs, bs, bs…
Reality: Get rid of the Federal Reserve and the WSJ, and all things will be good…even my Apple stock…
It’s just a formality to show that they are still playing by their own rules. They are not going to delist a strong performer like AAPL.
Hey, where’s Stockboy been lately? Stocking shelves, no doubt. What happened to his $50 AAPL guess? I hope he shorted big time and is now being hunted down by his shifty broker.
Jeff,
Are you kidding? Get rid of the Federal Reserver? Are you a proponent of floating interest rates at market without any oversight? You forget that the policies of the Fed for the last ten years largely have resulted in the shifting of interest rates to other countries, making us more profitable.
Monetary policy is key to keeping a stable economy. Otherwise your cash would be worth nothing, and your house would be of third world archetecture.
“Hey, where’s Stockboy been lately? Stocking shelves, no doubt.”
No, that requires the ability to read.
Two words: Fry Guy
This ‘scandal’ is overblown. This has been known for years and a source of debate over whether or not companies should include options in their earnigns reports. Apple refused to do it unilaterally because it would make them seem at a disadvantage compared to other companies who also refused to do it. Make this an across the board rule and there are no problems.
1. Dell recalls fire starter…cost: estimated $400 million…
2. Apple has great quarter…
3. Apple taking lap top market share…
4. Apple Mac’s sales taking off…
5. NASDAQ threatens de-listing…
The threatened de-listing has nothing to do with these.
On Wall Street, missing a SEC filing deadline is considered a Very Bad Thing. And that’s as it should be: how can a company be considered healthy (or worthy of investment) when they don’t even know their own numbers?
Apple, Wall Street doesn’t screw around. They’ll gleefully kick out ANYone who doesn’t follow their procedure. You had better be taking the de-listing specter very seriously.
Personally I hope Apple’s doing great. With any luck they’re kicking serious ass & having their best quarter ever. But looking down the barrels of your stock being made worthless kinda ruins the fun.
This is my guess is why.
The new SEC guy was appointed by Bush, and since steve jobs is a major democrat supporter, and is well known to host dinners for clinton and kerry, Bush would not mind to fuck with steve jobs because of those things.
Uh, Jeff, if not for the Fed, there would be no liquidity. Remember the crash of ’87? The largest single day loss in the history of the New York Stock Exchange? If the Fed had not stepped in and flooded the financial markets with billions of dollars in response to the crash, the Chicago Futures Market would not have stabilized things in New York. The Fed stepped in again in 1997 when Long Term Capital guessed wrong on their hedge trading. We are lucky to have a central bank that helps to keep volitility from getting completely out of hand.
For insight, I recommend that you read Stocks for the Long Run by Jeremy Siegel. It will give you a lot of insight on the great crashes and bull markets, and will help you understand the role the Fed plays to make our financial markets stable, liquid and the standard for the world.
Wall Street is not an easy place. Little guys like us can get gamed. But don’t blame the Fed. They’ve saved your bacon more than you will ever understand.
Krispy Kreme is mentioned in MDN’s excerpt, and not one mention of Rob Glaser yet…?