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Hope you all bought over the last couple of weeks. This thing could short squeeze big time.
news today? after hours trades are fired up!
i dont understand, how does this affect KFN. so there will be a
separate KKR ticker, & KFN? or will KFN become the KKR ticker?
.A Changed KKR Comes Public, Finally .ArticleCommentsmore in Markets Main ».EmailPrinter
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Text .By PETER LATTMAN
Shares with a "KKR" ticker symbol begin trading Friday, bringing an end to the iconic private-equity firm's relentless two-year quest for a public listing.
But the event also marks the beginning of a new chapter, and an uncertain future, for Kohlberg Kravis Roberts & Co. Though the firm has benefited from the market rebound over the past six months, it still finds itself struggling with soured takeover bets, damaged lending markets and a skittish investor base.
KKR's business prospects look very different from when it filed for an initial public offering in July 2007. Back then, the firm was in the midst of a historic buyout binge, executing $250 billion of transactions over an 18-month stretch. Its filing came just weeks after the IPO of rival Blackstone Group LP, an event that now symbolizes the peak of the buyout boom. Then the credit crisis struck, stalling KKR's IPO.
Bloomberg News
GOLDEN ERA, PART 2? The second 'K' of KKR, Henry Kravis, won't be selling shares as part of the buyout shop's IPO. Here, Mr. Kravis in May.
.Undaunted, in 2008 KKR concocted a "back-door" IPO to combine with its Amsterdam-listed affiliate fund that invests in the firm's funds and deals. Shareholders of the Euronext-listed affiliate, KKR Private Equity, approved the deal and will receive 30% of the combined company. The new KKR shares will trade on Euronext with plans to move to the New York Stock Exchange as early as spring 2010.
KKR, which has roughly $50 billion of assets under management, says a public listing will give it a large capital base to fuel its growth and provide a currency to make acquisitions. And though firm founders Henry Kravis and George Roberts, 65 and 66 years old, respectively, aren't selling shares as part of this listing, a public float allows them to cash out their stakes over time.
As a public company, KKR will continue efforts to extend its brand and diversify away from leveraged buyouts. So far those initiatives have had spotty results. The firm has another publicly traded entity, KKR Financial Holdings LLC, which invests in corporate debt. Its stock has dropped more than 80% since it listed in 2005, losing billions of dollars in market value amid the drop in the debt markets. It suspended its dividend payment last November amid a liquidity crunch, but has recently improved its balance sheet.
"There is a brand value to KKR and synergies to being in multiple business lines," said Frank Angella, a general partner at Grove Street Advisors, a firm that invests in a range of private-equity funds. "But investors in this environment are going to scrutinize any commitment and won't invest in a new product just because it's KKR."
But an investment in KKR shares is still largely a bet on the firm's core private-equity business. A wrong-way bet on real estate caused the firm lose its entire investments in Masonite International, the door maker, and Capmark, the former commercial real-estate arm of GMAC LLC.
As the buyout business has stabilized over the past two quarters, KKR has used an opening in the capital markets to take public several of its better-performing companies, including Avago Technologies and a pending-listing of discount retailer Dollar General Corp. It also has used a thaw in the credit markets to restructure its companies' heavy debt loads, including a new equity investment and refinancing of mattress maker Sealy Corp.
A problem facing KKR -- albeit a high-class one -- is how it will deploy the billions of dollars it has raised from investors in its funds. KKR, which aggressively raised funds at the market peak, has about $15 billion of cash available to invest at a time when LBO activity has stalled.
KKR hasn't struck an LBO in the U.S. in more than two years, and its largest deal internationally was its $1.8 billion acquisition this summer of Oriental Brewery from Anheuser-Busch InBev. That is puny compared to its 2007 purchases of Texas utility TXU for $44 billion and a takeover of First Data for $27 billion.
Instead, KKR has been taking highly structured minority stakes in capital-starved companies. Last week, for example, the firm invested $300 million in a Kodak debt security as a part of a refinancing of the camera company.
Write to Peter Lattman at peter.lattman@wsj.com
I am in at 1.04-1.26, but I think the 5.00 mark it a mental crossover one for a lot of buyers. time will tell!
good luck trading!
maybe 5.15 or pull back some. i am in @.80 so i am ridding high. lol
so what you guess for tomorrow?
mine 5.50
i love this stock
we broke $5!!! its a beautiful thing people!
how do you feel about KFN after the upgrade? its been churning around $4 the last couple days. you think it can hold, & turn higher?
ya..today was nice up 14%...
And it caused a nice little run up this afternoon..
Ran into that pesky 3.14 resistance again. One month and can't get over it... Maybe if we can find 14M volume one day soon.
KKR presses the IPO button on Dollar General
Posted Aug 21st 2009 10:10AM by Tom Taulli (RSS feed)
Filed under: Deals, KKR
Over the past few years, it's been hard to find successes in private equity. But, in the case of KKR, there is no doubt that it made a good deal in the leveraged buyout of Dollar General in July 2007 (the company had been public since 1968). The price tag was $7.2 billion.
Now, the company has filed to go public. And, in light of KKR's recent success with the Avago (NASDAQ: AVGO) public offering -- as well as the resurgence in the equities markets -- there's a good chance that Dollar General will also get a nice reception.
Founded in 1939, Dollar General has become a power in the retail industry, with 8,577 stores located across 35 states. The typical store, which is about 7,000 square feet (known as a "small box"), is packed with a broad selection of merchandise. What's more, the low-price strategy has certainly been attractive for customers.
Keep in mind that the company has posted annual same-store sales growth for the past 20 years. In other words, Dollar General is more than just a play on the recession.
Under the ownership of KKR, there was been a continued focus on improving operations. For example, in early 2008, Dollar General hired Richard Dreiling as the CEO, who has 39 years of retail experience. There have also been other key hires.
Some of the improvements include optimized product assortment, better markdown strategies, higher inventory turns, customized store hours to enhance demand, improved real estate vetting, aggressive store remodeling and relocations, and better analytics.
So far, things are working out. Sales increased by 10.1% last year, with same-store sales growth of 9%. In fact, in Q1 of this year, sales growth was 15.7% and same-store sales growth was 13.3%.
At the same time, there has been a strong improvement in margins, which have gone from 27.3% in 2007 to 29.3% in 2008. Last year, net income was $108.2 million. As for Q1 of this year, net income came to $83 million.
True, Dollar General has a heavy debt load because of the leveraged buyout. Yet, the company has been able to reduce long-term obligations by $540.9 million to $4.1 billion.
The underwriters on the IPO include Citigroup (NYSE: C), Goldman Sachs (NYSE: GS) and yes, KKR.
Tom Taulli is the author of various books, including The IPO Primer and The Complete M&A Handbook.
Tags: Dollar General, IPO, KKR
KKR Financial Holdings LLC to increase by as much as 48%?
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Report August 14, 2009 – Comments (0) | RELATED TICKERS: KFN
KKR Financial Holdings LLC (KFN - $2.90) 50 day SMA crossed above the 200 day SMA at $2.82. This is known as a "golden cross" to institutional traders (market movers). When the 50 day crosses below the 200 day this is called a "death cross". A stock trading above its 200 day SMA is looked at as healthy with an upward projection, the opposite is true for the inverse. These moving averages are also used for support and resistance levels. Many times when a 50 day SMA meets the 200 day SMA the stock heads back where it came from meeting its resistance or support level.
Most recently FBR Capital Markets upgraded KKR to outperform with a PT of $4.00. Since March 31 following the improvement in the credit markets, management was able to enter into deals that alleviated certain CLO triggers that were trapping cash flow. These CLO's (Collateralized Loan Obligations) are special purpose vehicles with securitization payments in the form of different tranches. All this means is that these payments are pooled together and passed on to the owners of these tranches similar to collateralized mortgage obligations. Although the current price might seem cheap compared to its book value, investors should consider the significant risks in the capital/credit markets prior to investing. KKR continues to make investments in the same vehicles that caused its stock price to drop to .40 : commercial real esate loans, debt securities, asset-backed securities, corporate loand and debt securities. Sounds to me a 48% drop is in the cards just as much as a 48% increase.
KKR Financial Holdings LLC Announces Second Quarter 2009 Financial Results
4:07p ET August 6, 2009 (PR NewsWire)
KKR Financial Holdings LLC (NYSE: KFN) ("KFN" or the "Company") today announced its results for the second quarter ended June 30, 2009.
Second Quarter 2009 Results
For the three and six months ended June 30, 2009, KFN reported net income of $20.6 million, or $0.14 per diluted common share, and $7.6 million, or $0.05 per diluted common share, respectively. For the three and six months ended June 30, 2008, net income totaled $37.6 million, or $0.25 per diluted common share and $51.5 million, or $0.39 per diluted common share, respectively. KFN's second quarter 2009 results reflect net investment income before provision for loan losses of $67.5 million, which is offset by non-investment expenses of $17.4 million, a provision for loan losses of $12.8 million and other losses totaling $16.5 million. Other losses totaling $16.5 million primarily consist of the following: (i) net losses on asset dispositions from KKR Financial CLO 2009-1, Ltd. ("CLO 2009-1") totaling $27.2 million (see discussion below); (ii) net losses on asset sales and lower of cost or market adjustments for loans transferred to held for sale for assets not held in CLO 2009-1 totaling $13.2 million; (iii) other-than-temporary impairment charges on certain securities classified as available-for-sale totaling $6.2 million; (iv) net realized and unrealized losses on investments in residential mortgage-backed securities totaling $7.4 million; (v) net realized and unrealized gains from derivative positions that primarily consist of credit default swaps and total rate of return swaps totaling $26.5 million; (vi) gain on retirement of convertible notes totaling $6.9 million; and (vii) net realized and unrealized gains on short positions totaling $2.5 million.
Convertible Senior Notes
During June 2009, the Company completed two transactions to exchange a total of $15.7 million par value of convertible notes for 7.2 million of the Company's common shares. These transactions resulted in the Company recording a gain of $6.9 million, or approximately $0.05 per diluted common share, which was partially offset by a write-off of $0.1 million of unamortized debt issuance costs and $0.4 million of other associated costs.
Book Value Per Common Share
The Company's book value per common share outstanding was $5.69 and $4.40 as of June 30, 2009 and December 31, 2008, respectively.
Actions Taken to Improve KFN's Liquidity Profile
Actions Taken Relative to the Company's Senior Secured Asset-Based Revolving Credit Facility
On August 5, 2009, the Company amended the credit agreement related to its $300.0 million senior secured asset-based revolving credit facility (the "Credit Facility") due November 2010 to reflect the following:
-- Reduction in Credit Facility size from $300.0 million to $200.0 million with additional $12.5 million quarterly reductions in facility size occurring on September 30, 2009, December 31, 2009, March 31, 2010 and June 30, 2010; -- Final maturity of Credit Facility extended from November 10, 2010 to November 10, 2011; -- Increase in interest rate from LIBOR plus 3.00% to LIBOR plus 4.00%; -- Reduction in the adjusted tangible net worth covenant from $1 billion to $700 million; -- Ability to utilize up to $50 million of unrestricted cash to repurchase outstanding debt; -- Ability to pay dividends up to 50% of the Company's estimated taxable income; and -- Ability to issue debt secured by a second lien on the Company's assets.
The Credit Facility is an asset-based facility and borrowings outstanding under the facility are based on the market value of the investments pledged to the Credit Facility. The amendment to the Credit Facility provides the Company with increased flexibility in meeting its debt maturity obligations.
Actions Taken Relative to CLO 2009-1
In response to both improvements in the credit market and increases in leveraged loan prices during the second quarter of 2009, the Company sold certain of its investments financed in CLO 2009-1 in order to generate proceeds to repay the entire amount of senior notes outstanding, which amount totaled approximately $560.8 million as of March 31, 2009. The Company focused such sales on assets which had the highest prices relative to par with a weighted average price of the assets sold of 88% of par value and a cash yield of 3.90% compared to CLO 2009-1's senior notes cost of capital of LIBOR plus 4.25%. On July 24, 2009, the Company retired the remaining outstanding senior notes of CLO 2009-1. Prior to the retirement of the senior notes, an affiliate of the Company held a 20% interest in the subordinated notes issued by CLO 2009-1. As part of the deleveraging of CLO 2009-1, the subordinated notes held by the Company's affiliate were retired in exchange for a 20% interest in each of CLO 2009-1's assets which remained following the deleveraging.
Following the deleveraging transaction and the pro rata distribution of 20% of the remaining assets to the Company's affiliate, the Company now holds the residual assets of CLO 2009-1, which consist of approximately $317.4 million par amount of corporate debt investments with an estimated fair value of $242.4 million and approximately $14.9 million in cash and receivables. The Company believes that based on current interest rates these assets will generate approximately $11.4 million of annualized cash interest income for the Company that would have otherwise been used to amortize and pay interest on the senior notes issued by CLO 2009-1, which had a coupon of three-month LIBOR plus 4.25%. The retirement of the senior notes issued by CLO 2009-1 included the payment of a $28.8 million placement fee to the senior note holders that was paid from the cash held by CLO 2009-1. The placement fee was structured to be paid by CLO 2009-1 on a quarterly basis over the life of the transaction and the $28.8 million amount reflects the present value of the future quarterly fee payments. As we consolidate CLO 2009-1 under GAAP, this fee will be reflected as an expense during the third quarter of 2009 that will be partially offset by a gain that will be recognized from the retirement of the subordinated notes issued by CLO 2009-1 to an affiliate.
Actions Taken Relative to KKR Financial CLO 2005-1, Ltd. ("CLO 2005-1"), KKR Financial CLO 2005-2, Ltd. ("CLO 2005-2"), and KKR Financial CLO 2006-1, Ltd. ("CLO 2006-1")
Subsequent to the quarter ended June 30, 2009, the Company surrendered for cancellation, without consideration, approximately $298.4 million in aggregate principal amount of mezzanine notes and junior notes ("Surrendered Notes") issued to the Company by the issuers of CLO 2005-1, CLO 2005-2 and CLO 2006-1. The Surrendered Notes were promptly cancelled upon receipt by the trustee of each transaction and the related debt was extinguished by the issuers thereof. The Company believes that this transaction brings the over-collateralization ("OC") tests for these three CLOs into compliance, enabling the mezzanine noteholders and the Company as sole holder of the subordinated notes of these three CLOs, to resume receiving cash flows from these transactions during the period when the OC tests are maintained. The details of the mechanics of the CLOs and the OC tests are described in further detail in the Sources of Funds section of the MD&A in the Company's Form 10-Q for the quarter ended June 30, 2009 that was filed today with the Securities and Exchange Commission.
In accordance with accounting principles generally accepted in the United States of America, the Company consolidates its CLO subsidiaries and therefore does not expect this transaction to have an impact on its condensed consolidated financial statements. Similarly, as CLO 2005-1, CLO 2005-2 and CLO 2006-1 are treated as disregarded entities for tax purposes, this transaction is not expected to have any tax implications for the Company or its shareholders.
Information for Investors: Conference Call and Webcast
The Company will host a conference call and audio webcast to review its second quarter 2009 results on Thursday, August 6, 2009, at 5:00 p.m. EST. The conference call may be accessed by dialing (877) 548-7903 (Domestic) or (719) 325-4851 (International); a pass code is not required. A telephonic replay of the call will be available through Thursday, August 20, 2009 by dialing (888) 203-1112 (Domestic) and (719) 457-0820 (International) / pass code 4301621. Supplemental materials that will be discussed during the call and the live audio web cast will be available in the Investor Relations section of the Company's website at http://www.kkr.com/kfi/kfn_webcasts_presentations_and_important_documents.cfm. An audio replay of the web cast will be archived in the Investor Relations section of the Company's website.
About KKR Financial Holdings LLC
KKR Financial Holdings LLC is a publicly traded specialty finance company that invests in multiple asset classes. KKR Financial Holdings LLC is externally managed by KKR Financial Advisors LLC, a wholly-owned subsidiary of Kohlberg Kravis Roberts & Co. (Fixed Income) LLC, which is a wholly-owned subsidiary of Kohlberg Kravis Roberts & Co. L.P. Additional information regarding KKR Financial Holdings LLC is available at http://www.kkr.com.
Statements in this press release which are not historical fact may be deemed forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although KKR Financial Holdings LLC believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, the Company can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from the Company's expectations include completion of pending investments, continued ability to source new investments, the availability and cost of capital for future investments, competition within the specialty finance sector, economic conditions, credit loss experience, availability of financing, maintenance of sufficient liquidity, and other risks disclosed from time to time in the Company's filings with the SEC.
Schedule I KKR Financial Holdings LLC CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (Amounts in thousands, except per share information) For the For the For the For the three three six six months months months months ended ended ended ended June 30, June 30, June 30, June 30, 2009 2008 2009 2008 ---- ---- ---- ---- Net investment income: Securities interest income $23,252 $34,788 $52,104 $74,597 Loan interest income 121,919 184,550 251,123 401,087 Dividend income 26 1,092 287 1,908 Other interest income 106 4,998 462 16,074 --- ----- --- ------ Total investment income 145,303 225,428 303,976 493,666 Interest expense (72,403) (128,037) (162,285) (282,102) Interest expense to affiliates (5,379) (19,707) (11,184) (47,525) Provision for loan losses (12,808) (10,000) (39,795) (10,000) ------- ------- ------- ------- Net investment income 54,713 67,684 90,712 154,039 ------ ------ ------ ------- Other loss: Net realized and unrealized gain (loss) on derivatives and foreign exchange 26,505 (5,918) 38,901 (52,934) Net realized and unrealized loss on investments (46,553) (17,217) (106,757) (30,976) Net realized and unrealized loss on residential mortgage-backed securities, residential mortgage loans, and residential mortgage-backed securities issued, carried at estimated fair value (7,445) (5,594) (26,864) (14,772) Net realized and unrealized gain on securities sold, not yet purchased 2,479 1,664 3,916 8,650 Gain on restructuring and extinguishment of debt 6,892 17,225 41,463 17,225 Other income 1,578 513 2,911 5,469 ----- --- ----- ----- Total other loss (16,544) (9,327) (46,430) (67,338) ------- ------ ------- ------- Non-investment expenses: Related party management compensation 10,304 10,387 21,516 19,546 General, administrative and directors expenses 2,975 5,752 5,378 10,274 Professional services 2,090 1,071 5,475 2,928 Loan servicing 2,056 2,391 4,192 4,960 ----- ----- ----- ----- Total non-investment expenses 17,425 19,601 36,561 37,708 ------ ------ ------ ------ Income from continuing operations before income tax expense 20,744 38,756 7,721 48,993 Income tax expense (135) (116) (88) (116) ---- ---- --- ---- Income from continuing operations 20,609 38,640 7,633 48,877 (Loss) income from discontinued operations - (1,079) - 2,668 --- ------ --- ----- Net income $20,609 $37,561 $7,633 $51,545 ======= ======= ====== ======= Net income per common share: Basic Income per share from continuing operations $0.14 $0.25 $0.05 $0.38 ===== ===== ===== ===== Income per share from discontinued operations $- $- $- $0.02 === === === ===== Net income per share $0.14 $0.25 $0.05 $0.40 ===== ===== ===== ===== Diluted Income per share from continuing operations $0.14 $0.25 $0.05 $0.37 ===== ===== ===== ===== Income per share from discontinued operations $- $- $- $0.02 === === === ===== Net income per share $0.14 $0.25 $0.05 $0.39 ===== ===== ===== ===== Weighted-average number of common shares outstanding: Basic 151,202 146,025 150,462 130,289 ======= ======= ======= ======= Diluted 151,202 146,025 150,462 130,289 ======= ======= ======= =======
Schedule II KKR Financial Holdings LLC CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Amounts in thousands, except share information) June 30, December 31, 2009 2008 ---- ---- Assets Cash and cash equivalents $114,353 $41,430 Restricted cash and cash equivalents 288,944 1,233,585 Securities available-for-sale, $603,979 and $553,441 pledged as collateral as of June 30, 2009 and December 31, 2008, respectively 604,916 555,965 Corporate loans, net of allowance for loan losses of $473,202 and $480,775 as of June 30, 2009 and December 31, 2008, respectively 6,646,440 7,246,797 Residential mortgage-backed securities, at estimated fair value, $76,572 and $102,814 pledged as collateral as of June 30, 2009 and December 31, 2008, respectively 76,572 102,814 Residential mortgage loans, at estimated fair value 2,218,319 2,620,021 Corporate loans held for sale 168,547 324,649 Private equity investments, at estimated fair value 54,016 5,287 Derivative assets 11,562 73,869 Interest and principal receivable 83,395 116,788 Reverse repurchase agreements 80,344 88,252 Other assets 98,186 105,625 ------ ------- Total assets $10,445,594 $12,515,082 =========== =========== Liabilities Collateralized loan obligation senior secured notes $5,793,906 $7,487,611 Collateralized loan obligation junior secured notes to affiliates 632,542 655,313 Secured revolving credit facility 256,597 275,633 Convertible senior notes 275,800 291,500 Junior subordinated notes 288,671 288,671 Residential mortgage-backed securities issued, at estimated fair value 2,080,592 2,462,882 Accounts payable, accrued expenses and other liabilities 37,694 60,124 Accrued interest payable 34,602 61,119 Accrued interest payable to affiliates 3,245 3,987 Related party payable 5,960 2,876 Securities sold, not yet purchased 77,637 90,809 Derivative liabilities 58,734 171,212 ------ ------- Total liabilities 9,545,980 11,851,737 --------- ---------- Shareholders' Equity Preferred shares, no par value, 50,000,000 shares authorized and none issued and outstanding at June 30, 2009 and December 31, 2008 - - Common shares, no par value, 500,000,000 shares authorized, and 158,139,238 and 150,881,500 shares issued and outstanding at June 30, 2009 and December 31, 2008, respectively - - Paid-in-capital 2,559,898 2,550,849 Accumulated other comprehensive loss (49,195) (268,782) Accumulated deficit (1,611,089) (1,618,722) ---------- ---------- Total shareholders' equity 899,614 663,345 ------- ------- Total liabilities and shareholders' equity $10,445,594 $12,515,082 =========== ===========
Investor Contact Laurie Poggi Kohlberg Kravis Roberts & Co. L.P. 415-315-3718 Media Contact Peter McKillop/Kristi Huller media@kkr.com 212-750-8300
SOURCE KKR Financial Holdings LLC
http://www.kkr.com
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July 28, 2009
5:31p Updates, advisories and surprises MarketWatch 11:57a KKR Financial delevers CLOs, sees quarterly profit MarketWatch 11:50a Strong bond sale lifts Citi in down market MarketWatch 9:00a KKR Financial predicts second-quarter profit MarketWatch 8:36a KKR Financial Holdings LLC Takes Steps to Improve Liquidity Profile and Expects to Announce Positive EPS for Second Quarter PR NewsWire June 1, 2009
6:49a KKR swings to $1.2 billion loss for 2008 MarketWatch May 8, 2009
2:21p S&P KEEPS HOLD OPINION ON SHARES OF KKR FINANCIAL HOLDINGS March 2, 2009
3:10p S&P MAINTAINS HOLD RECOMMENDATION ON SHARES OF KKR FINANCIAL HOLDINGS LLC S&P January 5, 2009
4:20p Financial sector mixed as investors mull data, credit picture MarketWatch December 16, 2008
9:45a S&P MAINTAINS HOLD RECOMMENDATION ON SHARES OF KKR FINANCIAL HOLDINGS LLC S&P
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CMTP earnings PR out. Big gapper tomorrow. Hope KFN will gap like crazy on Friday and the whole of next week.
so, the real question... what happens in the next day or 2?
thoughts / opinions?
On Wednesday, Duh,,,
my only concern is how low intraday they will take it to load.
Short term KFN looks good. I wouldnt be surprised to see it well over $3 by Friday. It will depend on what they report but early indications are its strong.
Yes, just a little consolidation here today. It's held >50% of yesterdays candle, which is strong. It got as low as 2.48 but come on back if you wish...
Some folks don't like to hold thru earnings, but I'm not one of them.
Im thinking of maybe a re-entry. Holding up well. Thursday should be big here.
This will be the third attempt to hold above the 2.50 resistance area, which has been sitting there all year.
What is the saying, "Third time is the charm"? Bring IT
.01 gap up...still a bullish trend in theory. :)
Yes it certainly was. Sold yesterday and bought in at the close. All out today at 2.79. You will get the next one. I have a feeling we are going to see some real runners over the next few weeks. KFN daily RSI looking toppy if it has a sell off today tomorrow i may re-enter.
This has been a nice ride -- I sold too soon!
im thinking so. With positive earnings on Thursday this will fly imo
anyone else think we will gap up tomm.?
wwwwwwwwwwwwwwwwwwweeeeeeeeeeeeeeeeeeeeeeeee
a little bit too much too fast. hopefully we'll still see $3 by tomorrow or wednesday. KFN is on fire!
wwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwweeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee
we got the mojo now lol
LoL.... bout time someone weeeeeeee'd today
weeeeeeeeeeeeeeeeeeeeeeeeee
we got a bullish on our tech chart
Nice action for an early Monday. Volume on course for a 5+M day. +10% in the first hour.
that close works. Should see some nice accumulation heading into earnings next week.
Anything is possible, however my gut says accumulation starts this afternoon prior to next week. Then again i been wrong.
Volume and price on the grow.. We'll make it unless there are a lot of folks who dump over the weekend.
I think we close above $2 today for sure. Any loading below $2 is golden. Lets see what the afternoon brings.
It's like a fine wine.. it's gotta breathe for a little while. Just needs to stay at or above 2.
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KKR Financial Holdings LLC
(KFN)
555 California Street
50th Floor
San Francisco, CA 94104
phone 415.315.3620
fax 415.391.3077
BUSINESS SUMMARY
KKR Financial Holdings LLC (NYSE:KFN) — is a publicly traded specialty finance company that focuses on making investments that build long-term value and generate competitive risk-adjusted returns using moderate leverage. KFN's core business strategy focuses on investing in corporate debt, including senior secured loans, mezzanine loans, and high yield securities with a particular emphasis on debt issued by large capitalization firms with broad geographic and product offerings.
KKR Financial Holdings LLC is committed to fundamental and patient investing, disciplined execution, and active portfolio management that enable it to generate competitive, leveraged risk-adjusted returns for its investors.
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