sell off due to deal in the works for bondholders most likely
guys, it makes sense the stock is getting beaten up. the $530M in converts are mostly owned by large institutions, and about 80% of them have been restricted for at least a month. look for some news with earnings about a bond exchange for maybe new bonds, with a haircut to face, and a ton of equity, thus diluting the heck out of existing shareholders. i see this more often than you think. the bonds are trading at 35 cents on the dollar...lets see how they shake out in the next week and where the stock is...cash isn't the major problem on a qtrly to qtrly basis, its the impending maturity of the bonds, and the preferred which comes due in 2016 i believe...stay tuned...the bonds are the buy, not the stock....
So today we're up on lower volume (so far) than the sell-off on Wednesday and yesterday. That makes the sell-off look like it was money managers, whose first loyalty is to their own careers, selling to avoid bad news accompanying the Q4 earnings. Either that, or we had some short selling, which I would regard as very dangerous at this point.
Baloney - enough with the uninformed fear purveying! The only thing pulling USEC earnings down is a voluntary development being aided and probably pushed by D.O.E. They could easily just resell SWU from Tenex and curt most of their costs if this was truly a profit at any copst operation. With such flexibility there is always a price to be negotiated for with D.O.E. and don't forget B&W plus Hitachi in the wings clearly ready and likely to step in and buy the whole thing if needed or allowed.
IMHO this is still an excellent long term investment more likely to return to utility status than to zero.