Searching for Ten Baggers
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Good insight and probably true. Sadly.
Speed will only benefit shareholders. Accumulate this stock and we should be rewarded in time.
Stern was CEO? WOW. Great host on the radio but was he qualified to run a company?
Thanks Redux. Glad to be here. I like the upsided in Dryships. I am playing the sector with SEA (NYSE). Does Dryship have a heavy debt load?
If we get good news. The shorts may cover. If no news surfaces, this stock might get crushed under the weight of the huge short already established.
This is unchartered territory right here.
It is always good to take profit. The company has had steady news flow. Let's see what next week brings.
Looking for gold in a wreck is very cost effective I would imagine. Takes away from the guessing you get from putting cash into an exploration outfit.
I am a fan. Last time I was home I went and saw Munster play. Crazy good time.
Any opinion on GE?
I will stop loss it at $2.00 on Monday. Good advice. I really like the upside. Phrama could come in style and that would be big for Ligand
Yes I think it will rally but it should fade quickly if history holds any traction
I hope GE turns out OK because if it doesn't we all have problems. Looks like you like CAT as well
GE just appears to want to go lower. If we get some good news though, the big short could cause a snapback
How long will it take to extract the treasure?
I covered my short on MAS last week and I am short GE
What are your thoughts on GE?
Sad. The result of excess I suppose.
It could
The rising price of gold will do nothing help
Needs and industry partner
Agreed. Let's see what happens next week
Wow. That could be great news for Longs
Nova Chemical posts $214M loss
Incoming CEO Confident It Will Endure Stalling Economy
Posted By THE CANADIAN PRESS
Posted 16 days ago
The incoming chief executive of Nova Chemicals (TSX:NCX) says he's confident Canada's largest plastics maker will survive the recession and could even benefit from the pains of its competitors.
Chris Pappas, the president and soon-to-be CEO of Nova, said Thursday that pressures on the chemical industry have forced other companies to shut down some operations, either temporarily or permanently, causing their customers to switch to Nova.
Those closures included a Flint Hills Resources polymers plant in Odessa, Tex., which closed late last year.
"That capacity happened to be a product line that was very similar to a product line that we make in Alberta on a very low-cost basis," said Pappas, after Nova reported a big quarterly loss.
The company booked a loss of $214 million US in the fourth quarter as writedowns and falling revenues reversed a solid profit the previous year.
The loss for the period ended Dec. 30 was worth $2.56 per share and compared with a profit of $126 million, or $1.51 a share, a year earlier, the company said Thursday.
Nova, which reports in U. S. dollars, said revenue slipped to $1.2 billion from $1.8 billion.
Pappas said weakening oil prices affected revenues generated by Nova's petrochemicals. Inventories were sold at a lower price, causing the company to book $364 million in before-tax losses.
"Some of our customers are under a lot of financial pressure for the same kinds of reasons," he said.
Nova Chemicals wrote down the value of its inventory at the end of the year to reflect market prices, incurring another $129 million loss. The company also logged a $111-million before-tax gain due to the appreciation of the U. S. dollar.
The company, which is headquartered in Pittsburgh but has major operations in Sarnia, Ont., and Alberta, has been focusing on slashing costs and raising $400 million in cash and obtaining loans to comply with its debt covenants with bankers.
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Earlier this month, Nova announced a plan to reduce its fixed costs by $100 million over the first half of the year. That involved the loss of 400 jobs at its worldwide operations, about 15 per cent of the workforce.
On Thursday, Nova said it was complying with debt covenants on its five revolving credit lines -- totalling $683 million -- and had negotiated new terms with bankers to use the money during the first half of the year.
The conditions require the company to secure another $100 million in additional financing by Feb. 28 (which it is "confident" will be in place), and another $100 million by June 1, which is under negotiations.
Pappas, who replaces current CEO Jeff Lipton this spring, said Nova isn't planning any further job cuts at this point.
"While the chemical industry in general is struggling from low demand, and other problems, the business that we're primarily in is not having anywhere close to that same degree of demand-side struggle," Pappas said.
Article ID# 1412286
How did Ireland do?
This would be great. At these prices, TXT could be a real bargain for a healthier competitor
No I don't remember. I made a few dollars on this one and I think this is a good re-entry point.
Maybe the .60-.70 range could be the base for a new move
Getting the treasure out is just a matter of time. This stock should be accumulated
Nice DD TM
Thanks Simple
Thanks pennies
Do yuo think they will stay out of BK?
I like LZB and COT. Why the bounce on both?
I covered my short last week then put it back on the next day. The rally was only one day long
I will be watching for the slide.
How big a position can get for $5000? How much leverage can you control?
Looks like it will need to rebuild here
Maybe the story has not hit the broader public
This one looks interesting. Could it be the next OMEX?