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rich....i think the trail leads back to qcom or csco...always has....good luck my fellow warriors!!!
IMO opinion, that BOA analyst is merely a puppet for a greater interest in BOA. I have a position in IDCC and 3 times during this auction period they contacted me to discuss the auction and suggested discussion on this opportunity. I never responded. There is more to this BOA on stage action and I hope it will be revealed, soon.
leon....i know i make fun w/ the 5 o clock charlie MASH reference...but go back to the last time i referenced him...was just before the tender was announced...i do not pretend to be him or to know him....but when he has shown up for the last 15 years....SHIT HAS HAPPENED!!!!....
Then again someone may be trying to close out a short position. By the way I would never do business with certain banks.
TC, I like 5 o’clock Charlie. Maybe they will raise the auction price again.
why we up 2.5 pts in after hrs?...5 o clock charlie again!!!!
A new high despite the BofA analyst doubling down on his wrong analysis and thus attempting to add a plastic turd to the party punch bowl.
A evection job for the bouncers!!
Tomcat
Revised Question: When is settlement date for those that actually chose to participate in the Dutch Auction as defined by InterDigital? I forgot that Banks are closed for President's Day on Monday, February 20th. So I have revised my assumption that settlement date will be Wednesday, February 22nd. Can anyone confirm that this is correct?
Previously posted:
Question: When is settlement date for those that actually chose to participate in the Dutch Auction as defined by InterDigital? I assume that it is Tuesday, February 21st.
Settlement could be any time after. But what happens if IDCC did not accept any offers. Or no offers were made. Hmmm
The auction closes 11:59 pm New York time on Friday, February 17th.
Question: When is settlement date for those that actually chose to participate in the Dutch Auction as defined by InterDigital? I assume that it is Tuesday, February 21st.
IMO...the company IDCC has successfully flushed out B of A for what they really are regarding “coverage” of the company. And for some time I might add. There is an alternative motive here. Again all IMO. Not hard to figure why some companies elect to go private.
InterDigital (IDCC) Gets a Sell from Bank of America Securities
Catie Powers
Feb 16, 2023, 05:45 AM
In a report released yesterday, Tal Liani from Bank of America Securities reiterated a Sell rating on InterDigital (IDCC – Research Report), with a price target of $55.00. The company’s shares closed yesterday at $74.53.
Liani covers the Technology sector, focusing on stocks such as Amdocs, Cisco Systems, and F5 Networks. According to TipRanks, Liani has an average return of 6.9% and a 53.14% success rate on recommended stocks.
InterDigital has an analyst consensus of Moderate Buy, with a price target consensus of $80.00.
The company has a one-year high of $74.60 and a one-year low of $39.69. Currently, InterDigital has an average volume of 323.4K.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
InterDigital, Inc. engages in the design and development of technologies that enable and enhance wireless communications, and capabilities. It focuses on mobile technology and devices, which includes cellular wireless technology, Internet of Things, technology, video coding & transmission, sensor and sensor fusion technology. It also offers digital cellular and wireless products and networks, including 2G, 3G, 4G and IEEE 802-related products and networks. The company was founded by Seligsohn I. Sherwin in 1972 and is headquartered in Wilmington, DE.
https://www.tipranks.com/news/blurbs/interdigital-idcc-gets-a-sell-from-bank-of-america-securities?utm_source=webullapp.com&utm_medium=referral
Possible some are working to keep the price down.
Any firm updating their coverage before knowing the new amount of outstanding shares remaining after the Dutch Auction is doing a disservice to their audience and their firm's reputation. Totally self serving on their behalf.
Paullee. expect the B of A people to short into the Dutch Auction today. I am excited to hear how many shares that they bought. The B of A analyst never takes into account that they have over $40 per share cash and if you take his $55 target price that is only $1.631B will they have over $1.2 B in cash now. Plus there is a good possibility that they could exceed his total with Lenovo's arrears and new license.
No mention of what the auction will do to share count, and therefore effect the P/E.
BofA report out Underperform target 55
and this is after they start their question off with Great Qtr
Strong 4Q, yet long-term growth remains a concern
Solid 4Q results with revenues up 5% YoY to $117mn, above our $114mn, driven by
strength in recurring revenues, which reached $104mn and beat our expectations by
~$2mn. Gross and operating margins of 61%/33% came in above our 59%/31% from
lower-than-expected licensing and research and portfolio development costs. The margin
outperformance also drove EPS of $1.08c to beat our 93c estimates. Management
provided 1Q23 guidance for recurring revenues to decline -3% YoY to $96mn due to a
$15mn impact from expired agreements and an assumption of flat contribution from
Samsung, which is now in arbitration. We note that InterDigital’s stock is up ~50% YTD,
largely from the recent share buyback plan and the Dutch auction mechanism. Despite
the solid results, we reiterate our Underperform as we believe the long-term growth
outlook remains challenged. Even if smartphone recurring revenues reach management’s
$500mn target, the growth rate would then decline to low-single digits, as smartphones
account for 77% of total revenues. Higher estimates prompt a higher PO, up from $50
to $55, based on 16x 2024E EPS, vs. 16x 2023 EPS previously, as we roll our model
forward.
Weak smartphone revenues offset by non-handsets
Recurring revenues from smartphones fell -3% YoY to $89mn due to tough comps from
elevated revenue recognition in the final year of the prior Apple agreement. Ex-handsets,
IDCC is performing well, with Consumer Electronics (CE) and IoT/autos revenue up 50%
YoY in 4Q to $15mn and benefitting from new long-term agreements with Panasonic
and LG. Management also highlighted that 80% of all connected cars are currently
licensed under InterDigital’s 3G/4G portfolio, which contributed to CE and IoT/autos
reaching +$100mn in total FY22 revenues (recurring and non-recurring). However,
Smartphones account for the majority of recurring revenues, at 87% of total in FY22,
and while this segment grew 12% YoY in 2022, the growth could decline materially once
the company reaches 80-85% penetration after reaching licensing deals with Chinese
vendors Lenovo, Oppo, and Vivo. Lastly, InterDigital is in the process of reaching a new
agreement with Samsung through binding arbitration and management expects the
process to conclude around mid-2024.
glen....dont you love it when a guy sends his underling to do his dirty work....cause he's too chicken to do it himself....stupid is as stupid does!!!
Bank of America was represented this morning by Jonathan
Eisenson on the Conference call rather than Tai Liani. EOM
Hopefully we'll see an increase in dividend in the future.. AMHO...From the call this am:
Since we announced our first dividend in December 2010, we have returned nearly $1.4 billion to shareholders through buybacks and dividends. In that time, we've reduced our outstanding share count for more than 45 million to fewer than 30 million shares. At current prices, our $400 million authorization would further reduce our share count below 25 million shares. With lots of opportunity to drive our cash flow even higher, capital allocation, and specifically returning cash to shareholders, will continue to be among the foremost topics for the management team and our Board.
https://seekingalpha.com/article/4578629-interdigital-inc-idcc-q4-2022-earnings-call-transcript
Vegas Options - I need to wait to see the transcript from this mornings presentation, but I don't think that was Tai Liani from Bank of America that was asking those questions.
teecee56, I believe that if the stock stays under $75 today that IDCC will get a couple Million shares as they have to be submitted today. We will know by Tuesday. Then look for the short interest report that covers these dates. The company clearly stated that at today's levels they would take the share count to under 25M.
ive seen a lot of funky stuff in my time....but this guy makes no sense to me....he's an analyst for a bulge bracket firm....it makes zero sense to even cover this firm....even if you liked the stock....there isnt even enough shares outstanding to justify your efforts on a monetary basis to the firm that you work for....to put your reputation on the line on the short side of what essentially is a deep value stock...is really really not too smart
Gamco. I am also surprised as they had $83M left in the buyback and they added $333M to make it $400M. I am going to go through the accounting to find where it went.
teecee56, every question that he asked he started with you missed on this... IDCC then answered as to how it was not a miss. He kept trying to get them to say that Samsung is not going to pay anything until the arb is over. They said that Samsung is paying at the old rate until the arb is over then there will be a true up. You could hear his voice quivering as he spoke. I hope he tells his clients to short into the Dutch auction.
i have to admit....i have no idea what is going to happen to the price during the tender period...i do know that if i was willing to tender a significant portion of my shares at even the max price....i would just tender them to the market right now
Something else that I have been mistaken about is a possible sale of some patents. From the recent 10-K:
During 2022, we determined patent sales are no longer a part of the company’s on-going central operations and therefore will no longer be accounted for as revenue. We had no patent sales during 2022 or 2021 and $0.6 million of patent revenues during 2020.
Vegas Options - I am surprised to see that no stock was repurchased during the fourth quarter.
vegas....what did he have to say?
B of A analyst did not sound Happy.... I believe that he wants to issue a new short when the Dutch Auction ends.
Correct then I assume a true-up when the arbitration is over.
So they will recognize Samsung at a conservative amount.
Of course, briefing.com is spinning this as a miss by .02 compared to Capital IQ Consensus expectations. I suppose the "IQ" is capitalized to make it seem smarter than it is.
They also decided that earnings for the next quarter have been guided "lower" without realizing that Sammy is still out there.
And I wasn't paying attention to the Wednesday earnings release - that's a new one.
The company expects recurring revenue for first quarter 2023 will be between $94 and $98 million. This range covers existing agreements and includes a conservative estimate that the company will recognize under its binding arbitration agreement with Samsung. It does not include the potential impact of any new agreements that may be signed during the balance of first quarter 2023.
InterDigital (NASDAQ:IDCC) reported quarterly earnings of $1.08 per share which beat the analyst consensus estimate of $0.73 by 47.95 percent. This is a 54.29 percent increase over earnings of $0.70 per share from the same period last year. The company reported quarterly sales of $117.06 million which beat the analyst consensus estimate of $109.94 million by 6.47 percent. This is a 4.69 percent increase over sales of $111.81 million the same period last year.
No wonder they want our shares back! Let's roll, baby! I've changed my mind about selling a few at $80, by the way.
InterDigital Reports Fourth Quarter And Full Year 2022 Financial Results
Source: GlobeNewswire Inc.
InterDigital, Inc. (Nasdaq: IDCC), a mobile and video technology research and development company, today announced results for the fourth quarter and full year ended December 31, 2022.
“We are thrilled to have delivered another excellent performance in 2022, highlighted by record setting level of recurring revenue of almost $404 million, Samsung’s recent agreement for binding arbitration to take a new license following Apple’s renewal in third quarter, and outstanding performance in consumer electronics, IoT/Auto licensing,” commented Liren Chen, President and CEO, InterDigital. “Building on the strength of last year and looking ahead to 2023 and beyond, I believe we are well positioned to deliver further growth in our smartphone core, build on our increasing momentum in consumer electronics and IoT/Auto, and capitalize on new opportunities in services that are built on our foundational innovations.”
Fourth Quarter 2022 Financial Highlights, as compared to Fourth Quarter 2021:
Total revenue was $117.1 million and increased 5%.
Recurring revenue was $103.6 million and increased 2%.
Operating expenses were $78.5 million and decreased 9%. The decrease was primarily driven by a reduction of non-recurring costs from restructuring activities.
Net income1 was $32.4 million and increased 48%.
Diluted earnings per share was $1.08 and increased 54%.
Adjusted EBITDA2 was $64.9 million and increased 8%.
Full Year 2022 Financial Highlights, as compared to Full Year 2021:
Total revenue was $457.8 million and increased 8%. Total Smartphone revenue of $353.2 million was flat, while CE, IoT/Auto revenue was $103.5 million and increased 51%.
Recurring revenue was $403.9 million and increased 15%. Smartphone recurring revenue was $351.1 million, and increased 11%, and CE, IoT/Auto recurring revenue was $51.7 million and increased 63%.
Operating expenses were $307.3 million and decreased 13%. The decrease was primarily driven by cost-savings actions the company initiated in 2021 and reduction of the related non-recurring costs.
Net income1 was $93.7 million and increased 69%.
Diluted earnings per share was $3.07 and increased 73%.
Adjusted EBITDA2 was $254.5 million and increased 22%.
Near-Term Outlook
The company expects recurring revenue for first quarter 2023 will be between $94 and $98 million. This range covers existing agreements and includes a conservative estimate that the company will recognize under its binding arbitration agreement with Samsung. It does not include the potential impact of any new agreements that may be signed during the balance of first quarter 2023.
The company expects first quarter 2023 operating expenses will be in the range of $75 to $79 million. In addition, the company expects non-operating expenses, comprised of interest expense and other income (expense), will be in the range of $1 to $3 million and the effective tax rate will be approximately 25%.
Conference Call Information
InterDigital will host a conference call on Wednesday, February 15, 2023 at 10:00 a.m. ET to discuss its fourth quarter and full year 2022 financial performance and other company matters.
For a live Internet webcast of the conference call, visit www.interdigital.com and click on the “Webcast” link on the Investors page. The company encourages participants to take advantage of the Internet option.
For telephone access to the conference call, visit www.interdigital.com and click on the “Dial In Registration” link on the Investors page. Registration is necessary to obtain a dial in phone number and PIN to join.
An Internet replay of the conference call will be available on InterDigital’s website under Events in the Investor’s section. The replay will be available for one year.
About InterDigital®
InterDigital develops mobile and video technologies that are at the core of devices, networks, and services worldwide. We solve many of the industry’s most critical and complex technical challenges, inventing solutions for more efficient broadband networks, better video delivery, and richer multimedia experiences years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world’s leading technology companies. Founded in 1972, InterDigital is listed on Nasdaq.
InterDigital is a registered trademark of InterDigital, Inc.
For more information, visit the InterDigital website: www.interdigital.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include information regarding our current beliefs, plans and expectations, including, without limitation, our belief that we will continue to be able to execute strongly on our business during the ongoing COVID-19 pandemic. Words such as “believe,” “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “forecast,” “goal,” “could,” "would," "should," "if," "may," "might," "future," "target," "trend," "seek to," "will continue," "predict," "likely," "in the event," and variations of any such words or similar expressions are intended to identify such forward-looking statements.
Forward-looking statements are made on the basis of management’s current views and assumptions and are not guarantees of future performance. Forward-looking statements are inherently subject to risks and uncertainties that could cause actual results, and actual events that occur, to differ materially from results contemplated by the forward-looking statements. These risks and uncertainties include, but are not limited to: (i) unanticipated delays, difficulties or accelerations in the execution of patent license agreements; (ii) our ability to leverage our strategic relationships and secure new patent license agreements on acceptable terms; (iii) our ability to enter into sales and/or licensing partnering arrangements for certain of our patent assets; (iv) our ability to enter into partnerships with leading inventors and research organizations and identify and acquire technology and patent portfolios that align with our roadmap; (v) our ability to commercialize our technologies and enter into customer agreements; (vi) the failure of the markets for our current or new technologies to materialize to the extent or at the rate that we expect; (vii) unexpected delays or difficulties related to the development of our technologies; (viii) changes in our interpretations of, and assumptions and calculations with respect to the impact on us of, the 2017 Tax Cuts and Jobs Act, as well as further guidance that may be issued regarding such act; (ix) risks related to the potential impact of new accounting standards on our financial position, results of operations or cash flows; (x) failure to accurately forecast the impact of our restructuring activities on our financial statements and our business; (xi) the resolution of current legal proceedings, including any awards or judgments relating to such proceedings, additional legal or regulatory proceedings, changes in the schedules or costs associated with legal proceedings or adverse rulings in such proceedings; (xii) the timing and impact of potential administrative and legislative matters; (xiii) changes or inaccuracies in market projections; (xiv) our ability to obtain liquidity though debt and equity financings; (xv) the potential effects that macroeconomic uncertainty could have on our financial position, results of operations and cash flows; (xvi) changes in our business strategy; (vii) changes or inaccuracies in our expectations with respect to royalty payments by our customers and (xviii) risks related to our assumptions and application of relevant accounting standards, including with respect to revenue being recognized under our binding arbitration agreement with Samsung.
We undertake no duty to revise or update publicly any forward-looking statement for any reason, except as otherwise required by law.
Footnotes
1 Throughout this press release, net income and diluted earnings per share (“EPS”) are attributable to InterDigital, Inc. (e.g., after adjustments for non-controlling interests), unless otherwise stated.
2 Adjusted EBITDA is a supplemental non-GAAP financial measure that InterDigital believes provides investors with important insight into the company's ongoing business performance. InterDigital defines Adjusted EBITDA as net income attributable to InterDigital, Inc. plus net loss attributable to non-controlling interest, income tax (provision) benefit, other income (expense) & interest expense, depreciation and amortization, share-based compensation, and other items. Other items may include restructuring costs, impairment charges and other non-recurring items. InterDigital’s computation of Adjusted EBITDA might not be comparable to Adjusted EBITDA reported by other companies. The presentation of Adjusted EBITDA, which is not prepared under any comprehensive set of accounting rules or principles, is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. A reconciliation of Adjusted EBITDA to net income attributable to InterDigital, Inc., the most directly comparable GAAP financial measure, is provided below.
3 Free cash flow is a supplemental non-GAAP financial measure that InterDigital believes is helpful in evaluating the company’s ability to invest in its business, make strategic acquisitions and fund share repurchases, among other things. A limitation of the utility of free cash flow as a measure of financial performance is that it does not represent the total increase or decrease in the company’s cash balance for the period. InterDigital defines free cash flow as net cash used in operating activities less purchases of property and equipment and capitalized patent costs. InterDigital’s computation of free cash flow might not be comparable to free cash flow reported by other companies. The presentation of free cash flow, which is not prepared under any comprehensive set of accounting rules or principles, is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. A reconciliation of free cash flow to net cash used in operating activities, the most directly comparable GAAP financial measure, is provided below.
SUMMARY CONSOLIDATED STATEMENTS OF INCOME
(in thousands except per share data)
(unaudited)
For the Three Months
Ended December 31, For the Twelve Months
Ended December 31, 2022 2021 2022 2021 REVENUES: Recurring revenues: Smartphone$88,742 $91,397 $351,064 $315,098 CE, IoT/Auto 14,677 9,770 51,717 31,721 Other 197 414 1,107 4,881 Total recurring revenues 103,616 101,581 403,888 351,700 Non-recurring revenues 13,439 10,234 53,906 73,709 Total revenues$117,055 $111,815 $457,794 $425,409 OPERATING EXPENSES: Research and portfolio development 45,732 48,704 185,202 200,484 Licensing 20,170 15,712 71,419 64,625 General and administrative 12,559 14,223 47,377 61,217 Restructuring activities — 7,587 3,280 27,877 Total Operating expenses 78,461 86,226 307,278 354,203 Income from operations 38,594 25,589 150,516 71,206 INTEREST EXPENSE (10,050) (5,796) (29,496) (25,225)OTHER INCOME (EXPENSE), NET 11,652 9,349 (3,457) 11,575 Income before income taxes 40,196 29,142 117,563 57,556 INCOME TAX PROVISION (8,190) (9,329) (25,502) (15,368)NET INCOME$32,006 $19,813 $92,061 $42,188 Net loss attributable to noncontrolling interest (402) (2,065) (1,632) (13,107)NET INCOME ATTRIBUTABLE TO INTERDIGITAL, INC.$32,408 $21,878 $93,693 $55,295 NET INCOME PER COMMON SHARE — BASIC$1.09 $0.71 $3.11 $1.80 WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING — BASIC 29,664 30,682 30,106 30,764 NET INCOME PER COMMON SHARE — DILUTED$1.08 $0.70 $3.07 $1.77 WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING — DILUTED 30,031 31,196 30,485 31,253 CASH DIVIDENDS DECLARED PER COMMON SHARE$0.35 $0.35 $1.40 $1.40
SUMMARY CONSOLIDATED CASH FLOWS
(in thousands)
(unaudited)
For the Three Months
Ended December 31, For the Twelve Months
Ended December 31, 2022 2021 2022 2021 Income before income taxes$40,196 $29,142 $117,563 $57,556 Taxes paid (2,220) (13,256) (6,805) (23,091)Non-cash expenses 27,333 24,103 117,646 119,375 Change in deferred revenue (60,931) (80,912) 85,403 (16,868)Change in operating working capital, deferred charges and other 352,130 112,152 (27,768) (6,580)Purchases of property and equipment and capitalized patent costs (11,614) (5,905) (42,753) (35,927)FREE CASH FLOW 3 344,894 65,324 243,286 94,465 Net proceeds from debt refinancing (307) — 138,886 — Dividends paid (10,382) (10,739) (42,306) (43,058)Repurchase of common stock — (7,000) (74,445) (30,000)Other 4,497 (2,203) (2,531) (3,674)NET INCREASE IN CASH, CASH EQUIVALENTS, RESTRICTED CASH AND SHORT-TERM INVESTMENTS$338,702 $45,382 $262,890 $17,733
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
(unaudited)
DECEMBER 31,
2022 DECEMBER 31,
2021ASSETS Cash, cash equivalents and short-term investments$1,201,777 $941,627Accounts receivable, net 53,182 31,113Prepaid and other current assets 89,716 77,545Property & equipment and patents, net 365,337 376,962Other long-term assets, net 190,093 200,909TOTAL ASSETS$1,900,105 $1,628,156LIABILITIES AND SHAREHOLDERS’ EQUITY Accounts payable, accrued liabilities, taxes payable & dividends payable$82,287 $79,888Current deferred revenue 189,059 291,673Long-term deferred revenue 237,580 19,463Long-term debt & other long-term liabilities 660,666 484,215TOTAL LIABILITIES 1,169,592 875,239TOTAL INTERDIGITAL, INC. SHAREHOLDERS' EQUITY 724,895 745,239Noncontrolling interest 5,618 7,678TOTAL EQUITY 730,513 752,917TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY$1,900,105 $1,628,156
RECONCILIATION OF NON-GAAP MEASURES
The table below presents a reconciliation of Adjusted EBITDA to net income attributable to InterDigital, Inc., the most directly comparable GAAP financial measure (in thousands):
For the Three Months
Ended December 31, For the Twelve Months
Ended December 31, 2022 2021 2022 2021 Net income attributable to InterDigital, Inc.$32,408 $21,878 $93,693 $55,295 Net loss attributable to non-controlling interest (402) (2,065) (1,632) (13,107)Income tax provision 8,190 9,329 25,502 15,368 Other income (expense), net & interest expense (1,602) (3,553) 32,953 13,650 Depreciation and amortization 19,422 19,222 78,571 78,193 Share-based compensation 6,918 7,726 22,127 28,736 Other items(a) — 7,587 3,280 29,877 Adjusted EBITDA2$64,934 $60,124 $254,494 $208,012
(a) Other items in the above table includes $7.6 million of restructuring costs during the three months ended December 30, 2021 and restructuring costs of $3.3 million and $27.9 million during the twelve months ended December 30, 2022 and 2021, respectively. The twelve months ended December 30, 2021 also includes $2.0 million of additional non-recurring personnel-related costs expenses related to new employee agreements.
The table below presents a reconciliation of free cash flow to net cash provided by operating activities, the most directly comparable GAAP financial measure (in thousands):
For the Three Months
Ended December 31, For the Twelve Months
Ended December 31, 2022 2021 2022 2021 Net cash provided by operating activities $356,508 $71,229 $286,039 $130,392 Purchases of property and equipment (2,284) (634) (3,156) (2,511)Capitalized patent costs (9,330) (5,271) (39,597) (33,416)Free cash flow3 $344,894 $65,324 $243,286 $94,465
CONTACT:InterDigital, Inc.: investor.relations@interdigital.com +1 (302) 300-1857
Nice to see old faces. The amended offer now expires as copied below.
The Tender Offer will expire at 11:59 p.m., New York City time, on February 17, 2023, unless extended or terminated.
Good luck to all of us senior citizens.
MO
loop
I’m still here! Today should be fun! With a big beat I see 80 pp real soon.
Teecee we shall see what tomorrow brings.
Fish, seeking alpha's usual hatchet job as the company estimated 93 cents so they put $1.09
leon......tommorrow is the tender....im surprised there wasnt more volume.....im watching from the cheap seats...taking notes...cause this is a "one of a kind event"....as least as far as im concerned......good luck men...anybody still here after 25 years...has got what it takes!!!
Rokky57, I really depends on how much stock that they bought in the 4th Q (300K). Their current outlook. How all the cases are progressing. Who did the $400 M come from. Should everything be positive, the stock will go over $75 and the company will get very few shares. If it is so so or bad all the shares from the last week will be tendered. In either case I win.
@Vegas ... Thanks and understood.
They obviously paid a lot more for the Puts in the money and are hedging for an upside surprise with the short term ( March ) Calls..
Any expectations for tomorrow action from your own personal experience with options?
Over 1.11 million shares traded today. Earnings tomorrow should be interesting, and the auction closes at 11:59 pm New York time on Friday night.
Huge volume day. Tomorrow will be interesting.
Rokky57, the RSI and all charts are meaningless when a company is looking to buy back up to 20% of their stock which will bring the share count to less than what the institutions own...
Rokky57, Whoever did it spent $2.4M for the puts and $180K for the calls. It clearly is an institution that is short. The reason they spent so much on the puts is their bias is for the stock to fall, but in either case they created 300,00 shares.
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