Cadence stock fell some 30% today after Michael Fister talked about lower sales and earnings than expected according to an article in the Oregonian . Here’s my favorite analyst quote:
Terence Whalen, a Citigroup analyst, asked Fister whether he was the right person to continue leading Cadence, given the company’s “deterioration,” its sudden switch to a new contracting system and its “risky” acquisition attempt.
Most of us EDA bloggers and old-timers have been questioning Fister’s fitness for the past five weeks so it’s refreshing to see that analysts have some big-time doubts as well.
Cadence trying to acquire Mentor at this point reminds me of the Black Knight trying to defeat King Arthur with no arms or legs.
“I’ll bite your legs off!”
Fister is clearly not steering his ship correctly. He should step down or be replaced with someone who understands innovative EDA culture and business. The Mentor acquisition was tactical and a reaction to his poor leadership.
“I’ll bite yor leg off indeed!”.
Let’s just hope that the Board of Cadence comes to their senses and stops this ill-fated, hostile merger bid for Mentor.
“… come back here … it’s only a flesh wound!”
– response to Harry
“What are you going to do, bleed on me?”
– response to Harry and John
– response to Karen, Harry & John
[I suspect this could go on a while…]