A Three card monte kind of day…

Given everything else that is going on in the financial markets, today’s an absolutey perfect day for a company to slip something into their filings, figuring that few people are likely to be paying attention. Last night, the SEC sent out one of its’ rare Sunday night press releases and followed up this morning with another one to reflect the new reality for Lehman (LEH).

As they do each morning, filings started trickling into my in-box at 6 this morning and already there’s a few interesting ones from companies that figure it’s a great day to play a little three-card monte. Among the more interesting ones were this 8-K from Qwest Communications (Q) — a footnoted favorite — announcing a new CFO, Joseph Euteneuer, the former CFO of XM Satellite, which recently completed its deal with Sirius (SIRI). Eutneneur replaces John Richardson, who announced back in April that he would be leaving after only a year in the job.

There was also Cisco’s (CSCO) 10-K (filed at 6:17 am). I’ve only done a quick skim of the filing, but one of the things that caught my eye was a new disclosure about sales to the service provider network with a new warning about materiality: “We have seen a slowdown in capital expenditures in orders by a few of our service provider customers, and believe there may be potential for a broader slowdown in the global service provider market in the next few quarters.” And there’s also a problem with an investigation in Brazil.

No doubt, there will be a few more companies engaging in lively game of three-card monte today.

Image source: Three Card