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I agree, it hasn't found bottom yet, I think it may be getting closer though, seems the daily volume is slowing a bit. 5 minute chart is trying to improve but not quite there yet
What's your thoughts on CC this morning?
somewhat, I would call it low floater with NO DEBT, makes it sound a bit better. It has done quite nicely this morning as well considering the markets
RGR running nice, HOD 8.56 so far
ETFC, down in premarket, under 3.00 today?? possible IMO
SWHC down in pre market, good chance it will test 5.00 support today
CC falling in premarket, last print 3.83
Could take another tumble today
RGR (Sturm Ruger & Co.) This hit after hours yesterday
Sturm, Ruger & Co Repurchases 2.2 Mln Shares In Q4 - Quick Facts
(RTTNews) - Sturm, Ruger & Company Inc. (RGR) announced that during the fourth quarter of 2007 it repurchased 2.2 million shares of its common stock, representing 9.7% of the total shares outstanding, for $20 million in the open market.
The average price per share repurchased was $8.99. Currently, 20.6 million shares remain outstanding. These repurchases were funded with cash on hand and today the Company has approximately $35 million of cash on hand and no debt.
For comments and feedback: contact editorial@rttnews.com
Bottom play watchlist from Jan 01 scan
1.00 to 5.00 (Charts posted in messages 273-291)
SOFO
AVII
GTF
IQW
CTIC
MIVA
NAPS
EEE
NRMX
FINL
ACME
IMM
ETFC
PAL
SCA
CC
NBIX
CHINA
5.00 - 10.00 (CHARTS POSTED IN MESSAGES 293-308)
CAO
NAVI
TUES
RVI
ALTU
SWHC
AMD
NG
NWK
ADBL
RUTH
HL
ISSC
RT
CCRT
RGR news out after hours yesterday, looks like I'm not the only one buying shares
Sturm, Ruger & Co Repurchases 2.2 Mln Shares In Q4 - Quick Facts
(RTTNews) - Sturm, Ruger & Company Inc. (RGR) announced that during the fourth quarter of 2007 it repurchased 2.2 million shares of its common stock, representing 9.7% of the total shares outstanding, for $20 million in the open market.
The average price per share repurchased was $8.99. Currently, 20.6 million shares remain outstanding. These repurchases were funded with cash on hand and today the Company has approximately $35 million of cash on hand and no debt.
For comments and feedback: contact editorial@rttnews.com
http://www.nasdaq.com/aspxcontent/NewsStory.aspx?cpath=20080103
RT (Ruby Tuesday) given Outperform rating by Bear Stearns on Jan 3. Could help this one find a bottom and make for a nice bounce
=DJ Stock Rating Reiterations: MDRX ALJ BYI BBBY BIIB
.
Rating reiterations for Jan. 3 from Briefing.com:
Company Symbol Brokerage Firm Reiterations
Allscripts MDRX Jefferies & Co Hold
Alon USA Energy ALJ Caris & Co Buy
Bally Technologies BYI CIBC World Markets Sector Outperform
Bed Bath & Beyond BBBY UBS Neutral
Biogen Idec BIIB RBC Capital Markets Sector Perform
Choice Hotels CHH Jefferies & Co Hold
Clearwire CLWR McAdams, Wright, Ragen Buy
Computer Sciences CSC Jefferies & Co Hold
Cymer CYMI Banc of America Sec Neutral
DISH Network DISH Lehman Brothers Overweight
Marriott MAR Jefferies & Co Buy
National City NCC Punk, Ziegel & Co Mkt Perform
PNM Resources PNM Jefferies & Co Hold
Ruby Tuesday RT Bear Stearns Outperform
Sciele Pharma SCRX RBC Capital Markets Sector Perform
Senior Housing SNH RBC Capital Markets Sector Perform
Sprint Nextel S UBS Neutral
Starwood Hotels HOT Jefferies & Co Buy
Sup Energy Svcs SPN Bear Stearns Outperform
Synovus SNV Lehman Brothers Underweight
Volcom VLCM Wedbush Morgan Buy
Watsco WSO Oppenheimer Buy
Wonder Auto Tech WATG Brean Murray Buy
Zions Bancorp ZION Friedman Billings Mkt Perform
Zions Bancorp ZION RBC Capital Markets Outperform
(END) Dow Jones Newswires
January 03, 2008 10:32 ET (15:32 GMT)
Good looking chart IMO, from a TA standpoint it could make for a nice play. I use EMA 6 with my MA5 and it has already started to turn up. The EMA6 will tell you where the MA5 is going as it breaks a bit quicker. Other thing I like is that it is close to having formed an almost text book double bottom, if it follows through with a run up I don't think testing 3.00 is out of the question.
From a news standpoint be aware of what is out there as news trumps charts. I found this read when looking at SIX and it has some good information in it, only mentions Six Flags briefly and it was put out long enough ago that it shouldn't have a negative effect but it's current enough to keep in the back of your mind.
=DJ Bankruptcies Likely To Rise Again In 2008 - Analysts
.
By Laura Mandaro
Market analysts warn that more U.S. businesses are likely to hang "going bankrupt" signs on their doors next year as the twinned blows of slower economic growth and pricey commodities force the weakest companies to seek refuge from creditors.
In a twist from this year's trends, the pain is likely to spread from mortgage lenders, home builders and consumer-oriented companies - all areas that contributed to a 40% jump in bankruptcy filings in 2007 and are expected to play a role in 2008's misery.
Next year, industries at risk for the biggest increases in Chapter 11 filings include electronics makers, energy miners like coal companies and agriculture companies, according to Global Insight.
Makers of durable goods like machinery are also more at risk and will likely contribute to a 13% rise in bankruptcies in 2008, says the private research firm, which bases its estimates on issuers' credit quality and operating conditions.
Some of the reasons? "Slowing growth, particularly in the United States, increasing supply pressures, increasing production in China," lists Global Insight managing director Mark Killion.
The bond market has been placing its own bets on which companies are more in danger of squelching on their debt. These run the gamut from brokerages singed by the subprime crisis; paper and chemical companies struggling with industry down cycles; and a motley assortment of media and entertainment companies.
Online broker and bank E-Trade Financial Corp. (ETFC), pipe maker Georgia Gulf Corp. (GGC) and newsprint maker Bowater Inc. (now part of AbitibiBowater Inc. (ABH)) - these are some of the companies Standard & Poor's says carry debt that qualifies as "distressed" because the companies have speculative grade ratings and their bonds have been trading at least 1,000 basis points over Treasuries. That spread indicates investors want more payback for taking on higher risk.
The portion of issuers that qualify as distressed, which include Remington shavers and consumer-products conglomerate Spectrum Brands Inc. (SPC), mortgage lender Residential Capital LLC and theme-park operator Six Flags Inc. (SIX), has climbed to about two-year highs. Companies that sell to the consumer make the biggest part.
Slowdown Risk
On the macro front, new bankruptcy risk to makers of such goods as electronics and heavy equipment comes from an expected slowdown, or even recession, in the United States next year. For raw materials producers, say metals makers, that slowdown risk is combined with supply competition from new industrial juggernaut China.
Meanwhile rising raw material prices, from fuel to metals to grains, have raised cost pressures for makers of equipment and even some high-flying commodities producers.
"Outside of oil, whatever the ability there is to raise prices, the fact is that input prices are going up at a similar rate," said Killion.
In the past few months, General Electric Co. (GE), U.S. Steel Corp. (X), Newmont Mining Corp. (NEM) and every major domestic airline have warned that rising raw material prices were cutting into profits.
The U.S. government's wholesale price index in November jumped to its highest level since 1973, as energy prices surged over 14%. Crude-oil futures have risen about 45% in the last year, coal prices have gained 32% and soybeans - the basis for many prepared food products - are up a whopping 80%.
Meanwhile, analysts expect more companies in industries linked to housing will file for bankruptcy or follow the increasingly popular course of opting to sell their assets to a restructuring firm and then declare themselves out of business.
"Home builders will continue to be on the edge," predicted Reginald Jackson, president of the American Bankruptcy Institute and a bankruptcy attorney at Vorys, Sater, Seymour & Pease LLP in Columbus, Ohio.
Of course, most of the large, public companies in vulnerable sectors are far from the bankruptcy brink. But in those same industries, weaker companies might find the dual pressures of slowing revenues and high costs the final straw.
That was the story in 2007.
As mortgage defaults and tight credit soured conditions for many financial firms, and consumer companies struggled against the headwinds of slowing labor markets and high gasoline prices, it was the companies with the shakiest or riskiest business profiles that took the Chapter 11 route to bankruptcy.
Going Bust
Going bust were mortgage lenders like New Century Financial Corp. (NEWCQ) and ResMae Mortgage Corp., loss-making retailers like Tweeter Home Entertainment Group Inc. (TWTRQ) and Bombay Co. (BBAOE) and restaurant chains like Specialty Restaurant Group and The Roadhouse Grill. Not surprisingly, a slew of home builders, including Levitt & Sons, a unit of Levitt Corp. (LEV), also filed for court protection from their debtors.
Those filings lifted the number of U.S. corporate bankruptcies from a record low in 2006 to an estimated 27,499 in 2007.
Foreshadowing of more pain is playing out in the bond market, where ratings agencies are slashing credit outlooks to levels where, historically, the risk of default has been high.
Standard & Poor's counted consumer products as the global sector with the highest risk of a defaulting on their credits, followed by retail/restaurants, and media and entertainment. Most of these are in the United States. Forest products, fourth on the list, had the most defaults in the U.S. during the 12 months until November.
Companies in these sectors have more ratings of B- or lower as well as credit watch negative or negative outlooks assigned by Standard & Poor's.
"We think of those companies as being on a slippery slope with the potential to go into default," said Diane Vazza, head of global fixed income research at Standard & Poor's.
In general, default rates for riskiest borrowers are expected to rise. Standard & Poor's estimates 56 speculative debt issuers will default in the next 12 months, a rate of 3.4% compared with less than 1% this year. The term "speculative" refers to the riskier borrowers whose debt falls below investment grade and is often called junk.
Moody's Investors Service, for its part, estimates the default rate will rise to 4.7% over the next 12 months.
Of course, defaults don't necessarily lead to bankruptcies or liquidations. Some companies manage to get a time-out from bank lenders and bond holders, or refinance their heavy debt loads. But refinancing is increasingly tricky as brokerages find it harder to sell high-risk debt to investors and banks tighten lending standards.
The ability of wobbly borrowers to obtain new financing has become a lot more difficult in the last year, says bankruptcy lawyer Jackson. That credit squeeze means more companies are spending less time in bankruptcy and are instead finding quicker exits via liquidation or sales.
"There's more using Chapter 11 as a way to realize the value of a company and its assets through a sales process," said Jackson.
How To Play The Trend
For retail investors, a pending bankruptcy in an investment usual translates to "sell that stock." Institutional investors, however, have found ways to make money off these corporate crises, and some mutual funds allow individual investors to follow along.
These include Martin Whitman's Third Avenue Value Fund (TAVFX), some of Franklin Templeton's Mutual Series funds and the Wintergreen Fund (WGRNX), managed by value investor David Winters.
Some funds hunt for stocks that managers think are trading at a deep discount. Some buy bonds trading for cents on the dollar before or while the bankrupt company restructures. Since bondholders rank high among parties with claims on the assets of a bankrupt company, those bonds are often worth more when the company exits bankruptcy.
Some fund managers even get involved in the bankruptcy process. Last year, Third Avenue objected to the fees charged by lawyers in the reorganization of auto supplier Collins & Aikman Corp. when it owned bonds in the company.
"We're seeing a lot of companies come under duress," said Russ Kinnel, director of mutual fund research for Morningstar, Inc. "Often when there's a lot of fear, that creates opportunity," he said.
-Laura Mandaro; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
December 28, 2007 08:31 ET (13:31 GMT)
Copyright (c) 2007 Dow Jones & Company, Inc.- - 08 31 AM EST 12-28-07
NG Chart
Gold stocks are hot and this being a bottom play makes it even more attractive, will be watching it closely in the a.m., posted it on watchlist on Tuesday and missed out as I was watching too many other things.
GRS Chart
On watch for the a.m.
BRLC Chart
I'm really liking this chart, be cautious as it has been on a solid run and could be due for a pullback or shakeout but looks like continuance is probable at this point. Should know after the opening bell
not a bad day all, gotta run, will check in later
SVN just broke loose, watch out for EOD run here
chart looks bad on it, looks like it has more to fall
I didn't take a big position so should be fine, can always average down but you're right anything in this area will be fine in coming weeks
I would have swore the news said an order for the Cheetah not the cougar, had that been the case it would have been HUGE
news wasn't what I thought it was or I wouldn't have jumped so fast, pays to slow down sometimes, oh well we'll see where it goes
IN FRPT at 5.20, news out
HOKU has had another nice day, wish I would've listened to myself yesterday morning and threw some coinage in
Thanks, I still think CC is going to be one of the bigger plays of 2008 and it will be a super bounce, just have to wait til it's ready
looks like CC is trying to consolidate a bit, getting better but still not ready for a buy, could still go either way and looking like down is more favorable IMO
CC 3.87
should be interesting when she turns
CC 3.95 and dropping
FRPT is trying but still doesn't have the strength to break 5.00
that's what I'm thinking, if it goes well it could test 10.00 again IMO
I agree, it's coming on quite nicely
bought RGR at 8.04
SVN punched new HOD of 2.14
5 min intraday chart for SVN looking good
FRPT 5 min intraday
Looks like it could go lower as well
FRPT just dipped under 5.00
right now it needs to break 4.06 and hold or gain on that before considering a buy, anything before that is pretty risky at this point IMO
CC (Circuit City) 5 minute Intraday chart
PPS under the bottom BB, not a good sign at all, needs to break middle BB and hold that area before buying, until then it may and most likely will go lower if it doesn't get back above 4.00 which has been support for it
yep, CC 3.98 and should go lower
CC (Circuit City) I'm waiting for dip under 4.00, it is getting much closer to making a move but I don't think it is ready yet
SVN, not bad timing on that call, just popped from 2.04 to 2.10
SVN (Sun Times)
Looks like correction/dip is over, starting to push back up nicely, averaged down this morning
RGR (Sturm Ruger) hit low of 8.06, getting close to buy area here, 8.00 and 7.85 are support for it
AKNS looking to have another great day, I really like how it is looking right now
HOKU will be the solar flipper of the year