Results from the investigation are coming soon-- my prediction is sometime in the next three weeks, which is anytime before the next earnings release. You can trade this all you want but I think we're semi range bound due to uncertainty of the investigation. Once it's out, we're moving in one direction generally-- so you may have as little as zero time to trade this and as much as three weeks in my estimation.
Full Year Guidance was reduced from $18 million to $16.2 million when second quarter earnings were reported. Two high energy user boilers were pulled from service in July and are to be tested and come back online probably in November. The NEW LINE was also scheduled to be completed for testing and come online in December 2010. As we have had no news from the company, I would expect the brunt of lowered guidance to fall into the third quarter. Without news and today's nice move on higher volume, I am lowering my rating to BUY. This is a totally personal bias.
So what? You buy the stock for next year earnings. Next year ONP with the modern machine and with compliance with environment regulations will take business from small older paper companies who will be shut down.