So far not worth a darn. Luckily, we sold enough to cover our original position and the warrants are valid until 2014. I can't remember the exact strike price but it is something like $42.00. The warrants closed at .60 per share Friday.
This kind of news will help it out though. At one time, fdml traded at $73.00 per share before the asbestos law suits came in.
Federal-Mogul earned $89.6 million, or 89 cents per share, compared with $3.9 million, or 4 cents per share, for the same quarter in 2007.
This is copied from Friday's news release.
AP
Federal-Mogul 2Q profit soars on sales growth
Friday July 25, 9:50 am ET
Federal-Mogul 2nd-quarter profit skyrockets on jump in sales, lower charges
Sales rose 13 percent to $2 billion from $1.76 billion in the year-ago period and included a $125 million foreign exchange benefit.
The company said that no single customer represents more than 6 percent of its global revenue and over 60 percent of its revenue comes from sales outside North America, Federal-Mogul said.
Charges related to the company's reorganization under bankruptcy protection fell to $3.2 million from $27.6 million in the year-ago period
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