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CALX - Calix: Drifting At The Mercy Of Market Tides
Calix Inc
Calix's (CALX) 2Q19 report was, characteristically, a mismatch between over-hyped expectations and underwhelming guidance. The stock ran up to as high as $7.50 in advance of earnings. CALX dropped 13% to $6.35 (at market close) on the actual results.
As best as I can tell, the CEO had stoked the fires of expectations at a recent investor conference. Taking his cue from the CEO's tone, an analyst published a recent note calling out 3Q as the likely “inflection point” for the stock (I also expected an inflection point recovery after the 1Q19 production