regardless what mdr presented or stated at lehman the market is saying sell it. anytime a stock such as mdr does not react to up markets it is time sell it. mdr has had a good three year run upward and now it is reversing that trend.
If the company was experiencing some financial or business crisis I could see the point of the selloff. I have been unable to uncover any such facts and I'd ask anyone who has such evidence to post it for us all to review.
Fear is sweeping the market, this sector, and this company in particular. The market is not always right. Fundamentally this company is in great shape. It is not a bank or financial institution with unmarketable assets. Its order backlog is almost twice is market cap. It services customers that produce an essential resource without which modern society would cease to function.
In time logic will prevail but until then emotion rules the day.....
Good eye Mex - I couldn't see why the drop, especially after listening to the presentation. This is a great company in all the right places, with most of it's locations booming. Any new infastructure development after the election will re-energize US sales....both parties are heavily promoting massive energy based expenditures. Lehman dumped everything cheaply....one big margin call....cash is king. This company has no debt, good cash flow and a GREAT BACKLOG OF BUSINESS with strong customers.