This stock is drifting lower and I dont see the light at the end of the tunnel...not looking good..be back at 95$ range...people still digesting those bad news..
Mechanical seals are a small part of FLS's sales, and mech seals into the offshore industry is a miniscule % of sales. Again, maybe you should get to know the products a little better and where they are sold. A $500MM sale (x3 phases) to Aramco? That affects their backlog. Billion$ + refinery, heavy oil, and gas plant projects? They affect backlog. Offshore? A blip for the most part.
You see, you still believe that the backlog was significantly affected by the oil spill, and FLS was one of the companies that were little affected.
I get your point that oil companies were resisting investment - but that was in the Gulf, American projects, and those are NOT the major jobs that affect FLS! Jobs that affect FLS the most are refinery, power, oil production, etc. Not the drilling industry.
Anyway - the correlation between FLS and the value of oil is pretty simple. just not much of a correlation between their backlog and the spill.
FLS is still reeling from the lack of capital entering the oil (and every) business since the 2008 meltdown. They did very WELL during the past 12 months, considering the projects that were released. But they need far more projects to be released before they can start to see their results become eye-popping.
Whatever - blame the spill, it doesn't matter.
You really must do more research into the stock to talk about. The truth is this is an outstanding stock with an excellent balance sheet and has and equally good reputation. You should be using this as an opportunity to accumulate as mush as you can. This time in Jan you will be glad you did. Buy all the way to $110
You may be right. Action not too impressive since the decent pop at open.
I'm watching closely if it hits 95 area and will see from there.
I'm really on the fence about the notion of a market sell off. Lots of reasons for this thing to keep chugging, but lordy its been a crazy, non stop run the last few weeks.
You will get a chance to buy it lower as the market will trend into a correction, this is based on the thought that the dollar will find a bid on the buy side which can weaken the equities, since we know what the Fed will spend in QE2 and how much, we cannot expect the same communal effect of 2009. My entry point is around 92.
Looks like I may have missed the chance to double my position. I'm in at 98.50, from a few days ago. Couldn't move on that 96 print ah yesterday as it was getting a little scary. But, I expect the s and p to pull back about five points in the next half hour. May buy more then as from there I think we take off.
I am a Professional engineer who has used their products in my design. I am not sure how the stock will behave but they do have some of the best equipment in the industry,(there are other manufacturers who are equal good). Good chance they will continue doing well if Industrial construction industry picks up (I mean Power plants, refineries, ship building, chemical manufacturing).
I was directing it to raja who has adequately apologized for his earlier posts. As to your inquiry, although it is always tough to pick a bottom, 94.5 looks like an attractive entry point at which, I personally would be a buyer.
I have to give you credit. Not only have you redeemed yourself but you have resuscitated a moribund message board. This is a good company that deserves spirited debate. Let's hope the interest continues and is a harbinger for the months ahead.