Futures down 1% and more bad news from BASF, the largest chemical maker will cause sell-off in HUNTSMAN.
The silence from HUNTSMAN is deafening.
The Rohm and Haas 900 job cuts and further articles about Chemical industry's fallen business in 4th quarter and this current quarter wil drive HUN down much further.
Look for this to touch $2 by Friday.
Good call. YOu've been pretty accurate. It appears this will sell off to the $2.50 range or below in a couple of days.
People are just scared to see how deeply the Chemical business has fallen over the cliff.
What silence from Huntsman? These guys have a PR announcement about something or another every week.
First they announce that they will use a portion of the money received to pay down or service debt.
Then they announce that their safety record is getting better and is world in class.
Then they announce that they registered 1900+ chemicals with the EU which now being one of the stronger companies around could help them take market share while their competitors are hurting.
Not to mention the insurance recovery payments they got and announced.
As far as the lawsuit with the banks, the parties involved can not speak about the suit. But I believe that the company spoke it's mind by insiders buying shares.
What more would you like these guys to do? Maybe we can get John Huntsman to come tuck you in at night and read you a night time story. Just kidding. I understand the frustration but people need to be looking a year out on a trade like this. Buy some shares, watch the news for something truly negative but otherwise just forget it and take a look in a year.
I tend to agree. While I would like to hear more from HUN about the use of the funds, etc. They are probably constrained about the lawsuits, if for no other reason they don't want to show their hands. I believe they will get awards for the bank suits in the $2 billion range, no way can the banks let it go to court. It is presumptious to say that we are going to use the $3 billion in awards to pay off debt so thus the silence. Patience is the key, they will win the suits and probably do a mix of debt pay off and stock buy back depending upon the amounts.
"What silence from Huntsman? These guys have a PR announcement about something or another every week."
c5rvette - the guy is obviously an idiot - I suggest you don't even bother wasting your time responding...
More importantly...can you tell me where it will close 6 months from now? Better yet lets go 12 months out and why you're predicting the close...why not 18 months out? I plan on holding the stock for 12-18 months so I need to know how much my 5000+ shares will be worth.