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DAC holding and on low volume. The day will come and this will breakout with buying. IMO
DAC this will run all at once in my opinion. When that big contract hits 10.00 plus.
DAC very good consolidation here and when the big volume hits it will run huge.
Still holding patiently for the gold.
DAC I still think the 10.00 price target comes here with patience.
DAC I still like 8-10.00 on this one though.
DAC I am still in this one and I will give it another month.
DAC COME on lets get rolling here. I want the $10.00 range.
DAC The day will come when this one takes a run over 10.00.
DAC Waiting patiently and the rewards will come here. IMO
DAC 10.00 Plus here when it takes off. We have a very bullish chart.
DAC One of my large positions and would like to see $10.00 plus.
DAC One of my top holdings right now. $10.00 soon IMO
Well lets see what we get today on this long holiday weekend.
Holding well and after the holidays maybe we see a nice move.
DAC I like this as a hold 6-8 months for the big gains but do your own DD.
DAC strong indeed!
DAC is looking strong for now! Maybe I should have held on :)
Grabbed a few more on the dip today
Grabbed a few more on the dip today
I like this at the 3.25-3.50 level and if we get a dip I will average down.
There's some talk on the yahoo boards about how their ships' values are overstated on the books and there will be refinancing difficulties in 2017 or 2018.
If Trump follows through on protectionism that could keep containership rates depressed.
I suspect there could be another swing below $3 sometime, if that happens I'd probably re-enter.
Very good volume and $10.00 near. A couple month but a strong investment I think.
Still moving onward and upward
grabbed a few for a small position
I averaged in a few weeks ago at about $2.50 and i just sold out at an average of about $3.35
Yes I gave up on the entire shipping sector back in 2010. Best of luck to you and DAC stockholders.
Did you give up on this?
In my opinion I think the global market is self-correcting. Low prices = BKs = reduced supply = prices going back up again.
My gut tells me anything under $3 is a safe buy in the medium term. This is about the same low DAC hit in the darkest part of ~2009.
Glad I snagged some at ~$3.30 a few months ago!
~ $DAC ~ Earnings posted, pending or coming soon! In Charts and Links Below!
~ $DAC ~ Earnings expected on Tuesday *
This Week In Earnings: Earnings are coming or are already posted! This is what the charts look like! If you play the earnings these posts can be very helpful to you!
Want more like this? Search Keyword: MACMONEY >>> http://tinyurl.com/MACMONEY <<<
One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.
http://stockcharts.com/h-sc/ui?s=DAC&p=D&b=3&g=0&id=p88783918276&a=237480049
http://stockcharts.com/h-sc/ui?s=DAC&p=W&b=3&g=0&id=p54550695994
~ Barchart: http://barchart.com/quotes/stocks/DAC?
~ OTC Markets: http://www.otcmarkets.com/stock/DAC/company-info
~ Google Finance: http://www.google.com/finance?q=DAC
~ Google Fin Options: hhttp://www.google.com/finance/option_chain?q=DAC#
~ Yahoo! Finance ~ Stats: http://finance.yahoo.com/q/ks?s=DAC+Key+Statistics
~ Yahoo! Finance ~ Profile: http://finance.yahoo.com/q/pr?s=DAC
Finviz: http://finviz.com/quote.ashx?t=DAC
~ BusyStock: http://busystock.com/i.php?s=DAC&v=2
~ CandlestickChart: http://www.candlestickchart.com/cgi/chart.cgi?symbol=DAC&exchange=US
~ Investorshub Trades: http://ih.advfn.com/p.php?pid=trades&symbol=DAC
~ Investorshub Board Search: http://investorshub.advfn.com/boards/getboards.aspx?searchstr=DAC
~ Investorshub PostStream Search: http://investorshub.advfn.com/boards/poststream.aspx?ticker=DAC
~ Investorshub Goodies Search: http://investorshub.advfn.com/boards/msgsearchbyboard.aspx?boardID=18582&srchyr=2011&SearchStr=DAC
~ Investorshub Message Search: http://investorshub.advfn.com/boards/msgsearch.aspx?SearchStr=DAC
~ MarketWatch: http://www.marketwatch.com/investing/stock/DAC/profile
~ E-Zone Chart: http://www.windchart.com/ezone/signals/?symbol=DAC
~ 5-Min Wind: http://www.windchart.com/stockta/analysis?symbol=DAC
~ 10-Min Wind: http://www.windchart.com/stockta/analysis?symbol=DAC&size=l&frequency=10&color=g
~ 30-Min Wind: http://www.windchart.com/stockta/analysis?symbol=DAC&size=l&frequency=30&color=g
~ 60-Min Wind: http://www.windchart.com/stockta/analysis?symbol=DAC&size=l&frequency=60&color=g
http://investorshub.advfn.com/boards/post_prvt.aspx?user=251916
*If the earnings date is in error please ignore error. I do my best.
This could be heading up now.
I held this stock for nearly a year in 2009, and finally gave up on it, now it finally moves up. Wondering now how high it might go? But I see Horizon, a competitor in the Container ship business crashing and burning, as its fleet sinks, and wonder if this is a real rally here, or a few days of glory, before reality sets back in here?
What am I not seeing here???? I have gotten burned the last 2 years playing shipping companies.
This stock is up 50% in the last 3 months!!! It may have a lot higher to go, based on where it came from 3 years ago, but I have not kept up. DD under way now, wondering why it has finally rallied?
Very interesting news!
Merge in the future with DRYS?
Does anyone have the last quarters, and last 12 months PE?
Danaos Corporation Announces Bank Restructuring, New Debt Financing and Sale of $200 Million of New Common Stock
Monday , August 09, 2010 08:30ET
ATHENS, GREECE -- (Marketwire) -- 08/09/10 -- Danaos Corporation (NYSE: DAC), a leading international owner of containerships, announced today that it received written commitments from all 14 of its bank lenders agreeing to the terms of Danaos' previously announced arrangement with its lenders to modify its existing debt obligations and provide new credit facilities. Under the agreed terms, which are subject to final documentation and other conditions, Danaos will receive $426.0 million of new debt financing from existing bank lenders as funding toward its current newbuilding orderbook. Additionally, under Danaos' existing bank debt facilities, representing approximately $3.0 billion of indebtedness, the amortization and maturities will be rescheduled, the interest rate margin will be reduced, and the financial covenants, events of default, and guarantee and security packages will be revised.
Danaos also announced that it has entered into agreements with several investors, including its largest stockholder, to sell to them 54.054 million shares of its Common Stock for an aggregate purchase price of $200.0 million in cash. The shares will be issued at $3.70 per share, which represents a 5.9% discount to the 30-day volume weighted average share price of $3.93 per share and a 6.6% discount to the 60-day volume weighted average share price of $3.96 per share.
This equity investment satisfies a key condition to the aforementioned arrangement with Danaos' lenders and, together with the new debt financing and existing loan modifications contemplated by such arrangement, will be used toward the completion of Danaos' current newbuilding program, comprised of 18 additional containerships aggregating 159,150 TEUs with scheduled deliveries up to 2012, as described in greater detail in the Company's Annual Report on Form 20-F filed with the Securities and Exchange Commission on June 18, 2010.
The purchasers of the Common Stock include the Company's largest stockholder, a family trust of Dr. John Coustas, and members of his family which together will be investing over $100.0 million. Additional investors include a private company affiliated with George Economou, the chief executive officer of DryShips, Inc.(NASDAQ: DRYS), members of the executive management of Danaos, as well as other investors. Following completion of the transaction, Mr. Economou will own 10.6% of the pro forma outstanding Common Stock and will join the Board of Directors of the Company as an independent director.
Danaos' CEO, Dr. John Coustas, stated:
"We are very pleased to announce the successful execution of the previously outlined restructuring of the Company's existing bank debt obligations and the new debt financing, as well as the signing of agreements with investors to purchase new Common Stock of Danaos for an aggregate amount of $200.0 million in cash. The support of our bank lenders, as demonstrated by their commitments to the restructuring of existing credit facilities and providing $426.0 million of new financing, as well as the Company's largest stockholder and family, with a new cash investment exceeding $100.0 million, represents a very positive indication of our continued commitment to Danaos Corporation. I would also like to welcome Mr. George Economou to the Board of Directors of the Company and truly believe he is a great addition to Danaos' Board, as we will benefit from his significant and successful experience in the shipping industry."
Evercore Partners acted as exclusive financial advisor to Danaos on all transactions associated with this restructuring.
About Danaos Corporation
Danaos Corporation is an international owner of containerships, chartering its vessels to many of the world's largest liner companies. Our current fleet of 47 containerships aggregating 203,529 TEUs, and contracted fleet of 18 additional newbuild containerships described above, ranks Danaos among the largest containership charter owners in the world based on total TEU capacity. Danaos is one of the largest US listed containership companies based on fleet size. The Company's shares trade on the New York Stock Exchange under the symbol "DAC".
Visit our website at www.danaos.com
Was it because Josh Kocses is the moderator? LOL!!!!
Why did the SEC think there was suspicious activity? It's not like the investigate when the stock goes down, why do they always get their shorts in a bunch when it goes up?
Earnings come out tomorrow.
buy more at $3.45
You're correct, but for one other reason as well. Rapid inflation globally will mean that debt is worth more than cash. THe proof was in what I called an inflation-debt-GOLD PLAY". Senator McCain touched on this in his SNL skit. The fact is that we could have taken a loan for $850,000.00 12 months ago for 1 year at 10% (8,500.00) interest, bought gold for AU$850/oz and sold that gold last week for AU@$1070/oz. That is $220,000.00 revenue and after taxes and interest of $120,000.00 paid off that's about $100,000.00 profit. That's a year's salary. Even better, if you took out student loans and didn't pay them, the $85,000.00 you borrowed may be greatly insignificant in 10 years because a pack of gum will cost $85,000.00 like 50,000 Peso's for a Snickers bar or 12,212 Yen for a #2 pencil with a no smudge eraser.
I am long here, have been for about 6 months. I have some done DD on this one and I have found some interesting things. They have a high debt to equity but most of that debt is backed up by hard assets, ships, many other competitors in there market have ships parked sitting around according to many wire services, but DAC is still making record earnings as all their ships are on long term leases out as far as 10 years! Their biggest issue is the need to come up with more cash as their new order ships arrive over the next 2-3 years. In order to come up with more cash, they may need to issue new shares, which means dilution, which is a fear keeping the stock price down, plus the unfounded fear of loosing leases. I have noticed that other stocks seem to rocket up and stay up for a while this year just before a big issue of new stock hits the news wires (EXM is a good example). Since DAC has not made such a move in price, and the other issues are already discounted in the current stock price, I think DAC is a good buy right here for a move up 50 to 100%, perhaps right after or just before earnings are announced this quarter. The PE is real low, about 2:1 last time checked.
One other note of interest, it seems the CEOs family owns 80% of the DAC common stock in a trust, so the float is very small compared to what you would think.
Wow, ok, this is a great discussion. We just keep getting more boats. It's like Monopoly and we have all the hotels....I mean why isn't Kramer talking about this on Mad Money.
Looks like we're gonna see that $4.58 buy back point tommorow or Friday morning. Then back up next week.
I think a point to buy back into this is $4.58. Then we'll see another climb to $7.59, dip to $6.34, and a rise to $8.43 in the next 34 days.
Joshua
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Danaos Corporation is an international owner of containerships, chartering its vessels to many of the world's largest liner companies. Our current fleet of 41 containerships aggregating 165,933 TEUs ranks Danaos among the largest containership charter owners in the world based on total TEU capacity. Danaos is the largest US listed containership company based on fleet size. Furthermore, the company has a contracted fleet of 28 additional containerships aggregating 217,950 TEU with scheduled deliveries up to 2012. The company's shares trade on the New York Stock Exchange under the symbol "DAC".
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