We have to recognize the Q2 report was not good, it was way below estimates. The share price has declined since the report, even yesterday in a roaring market. I am thinking this poor report and some overall market volatility will push down HUN in the next couple of months and may present an excellent buying opportunity in October or there abouts. At present, we have nothing to drive pps higher; no insurance settlement, and no decent earnings. Those among you who are looking for some magical buy-out... well, you need to listen to the conference call because HUN leadership is not expecting that. In short, this stock has become boring.
Now the Moody's downgrade was overkill and probably the work of a "just got an MBA juvenile" who has never been successful in any form of investment. I am not worried about this adverse rating of HUN debt because they are liquid, they don't need more debt or loans or bond offerings.
But on the whole, I think the PPS is at risk of falling lower in the next few weeks. I have trimmed my HUN holdings by about 16% and may trim more shortly.
In short, we are headed lower. This is my honest opinion and I would prefer to be rewarded with a positive surprise and be wrong...
"The market simply cannot continue to climb without taking a breather... or can it?"-SJD
Only the boys at 85 Broad St. know the answer to that question...
Have you seen their batting average for the last quarter???
"Aug. 5 (Bloomberg) -- Goldman Sachs Group Inc. made more than $100 million in trading revenue on a record 46 separate days during the second quarter, or 71 percent of the time, breaking the previous high of 34 days in the prior three months.
Trading losses occurred on two days during April, May and June, down from eight in the first quarter, the New York-based bank said today in a filing with the U.S. Securities and Exchange Commission. The company made at least $50 million on 58 of the 65 trading days in the period, or 89 percent of the time."
It's no wonder why some people think this game is rigged...
i am very skeptical of market and lost lot of upside as i bailed out on my most of stock with good gains but i am not chasing . i have hun which i believe has value , should be protected more on downside but its been baffling me for a while like dropping after settlement so i will not be surprised to see it manipulated more.
The market is a risk now IMO because it has climbed the wall of worry so well investors are numb to the possibility of a correction. This numbness will magnify fearful response when the market declines thus driving a true correction. The market simply cannot continue to climb without taking a breather... or can it?
well if market does not tank majorlly its unlikely it will go below 6 by any means.i am not talking about intraday but on closing basis.
there was big sell off pressure after settlement/shorting but it did not break 5.
it does not matter where it was iike some of you got in 3-4, what matter where it is going?
auto sales are picking if you believe media , housing is bottomed/improving and these events will make chemical stocks go higher.
if market tanks all bets off,may be will give another buying opportunity.
I'm sorry to say you are probably correct. But I'm hoping we can stay flat, meaning todays close is as low as we go. Maybe a trading range between $6.20 and $6.70 while we wait for dividend and third quarter results. Although I don't see much to hang our hat on with the 3rd quarter. We can hope that the economy and stimulus kicking in now and thru the end of year hopefully will bring some good news to chemicals.
If anything like last qtr's. time frame HUN should announce next week the $.10 cent dividend. Peter said the dividend was secure on the CC. That should pop the stock back to a positive note.
Then there is a rumor HUN will buy out the assets of Tronox. If that's the case, this would give HUN 23% of TiO2 market. Tronox was brought up in the Q&A part of the CC but there was no comment from Huntsman.
I don't know or care what Moody is up to but look what happened last qtr. vs. the previous 2 qtrs. The Cash total is now $2.3 billion and the total net debt dropped $921 million.
Below is our outstanding debt:
June 30, March 31 December 31,
In millions 2009 2009 2008
Senior Credit Facilities $ 1,963 $ 1,524 $ 1,540
Secured Notes 295 295 295
Senior Notes 623 198 198
Subordinated Notes 1,281 1,238 1,285
Other Debt 283 284 329
Convertible Notes 236 235 235
Total Debt 4,681 3,774 3,882
Total Cash 2,301 473 662
Net Debt $ 2,380 3,301 $ 3,220
market looks for ahead and if economy uptick is for real hun will be beneficiary, there are not many companies which represent such a huge management stake and this much cash.
high management interest gurantee us dividend and possibly no fraud like accounting gimmic etc.
i think we are near bottom /rather floor will be 6 and upside is easy upto 8-10 based on other chemical stock's movement.
and if market tanks majorly yes it can go to low 5, that's about it.(unlikely before october)
people are complaining about managment regarding cost cutting etc, they dont have to if we pickup demand and its better than cutting and hiring.
all these are wallstreet gimmicks and short term plays.
high equity % owned managment company is much better than highly paid outside managment which just serves to make wallstreet happy and making money for themselves .