keebon, I posted that as a possible explanation as to why GSL had suspended it's common dividend. Since they only have 18 vessels they are a relatively small player and if they had customers coming to them complaining they had to lower rates they may have acceded to some of those requests which will have affected earnings. The article was about SSW but also more in general about the state of the containership industry and it's problems.
bill: You might want to google this headline "Seaspan Corporation Refuses to Throw a Lifeline to a Sinking Customer". I'm thinking this explains why GSL suspended their common dividend and if I'm not mistaken you and jerseyvinny both hold the preferreds. these could be next without any further improvement in the containership rates.
ARCC..........UP 37% (Probably due to the acquisition and how well they will integrate)
FRO........... DOWN 9%
ETP.............UP 23% (probably on ETE/WMB merger and oil prices)
DLNG.........UP 77% (since the position is only 1.2% of float this is insignificant)
mark, you're right on Scotland. They're talking about having another referendum in the fall to re-vote on leaving the UK. After that anything's possible.
that makes it all worthwhile to have the camaraderie of a great message board for support and reinforcement. Thanks to all for comments and positive thoughts to get us all through today's trying times, and it's only 11:30 LOL
take a look back at many stocks we all own at the beginning of the week. Many are trading today near Monday's prices. Kinda puts it all into perspective. Sadly none of my stinkys got triggered this morning and I don't see any great buys right now.
To put it all in perspective:
Monday 6/20 close Current
ETP 38.28 40.50
FRO 8.34 8.12
GLOP 18.71 19.33
NRZ 13.43 13.15
SFL 15.13 14.54
ARCC 14.13 14.15
Doesn't look too bad, does it. Many others approx. the same. Of course there's some down substantially more but I know many here own these stocks.
Ive got 3 stink bids in this morning. SFL, AMID and DLNG. Got enough ETP but it's a great buy at current pre market price. Just mentioned yesterday by Credit Suisse in their 3 top MLP picks:
These three look especially appealing now.
Energy Transfer Partners
This stock is still offering investors a top quality distribution and entry point. Energy Transfer Partners L.P. (NYSE: ETP) currently owns and operates approximately 35,000 miles of natural gas and natural gas liquids (NGLs) pipelines. It also owns 100% of Panhandle Eastern Pipe Line (the successor of Southern Union Company) and a 70% interest in Lone Star NGL, a joint venture that owns and operates natural gas liquids storage, fractionation and transportation assets.
Last November, Energy Transfer Partners and Sunoco announced the dropdown to Sunoco of the remaining 68.42% interest in Sunoco LLC and 100% interest in the legacy Sunoco retail business for approximately $2.226 billion. Sunoco is expected to pay to Energy Transfer Partners approximately $2.2 billion in cash (including the expected value of working capital) and also will issue approximately 5.7 million common units valued at approximately $194 million. This completes the $5.7 billion total retail business dropdown in just over a year.
Energy Transfer shareholders receive a huge 10.48% distribution. The consensus price target is $40.27. Shares closed Wednesday at $40.26.
keebon. You know something about NRZ I don't? Expected their dividend announcement anytime this week but so far nada. If they don't announce today it will be real tight for them to go x/d next week, but still possible. Their history is anywhere from 1 week to 3 weeks for x/d after announcement.
Hey Huff, good morning. As does Bill, I have at the top of my jump in list AMID and buying back DLNG. Oil down big this morning which should exacerbate the sell off in that sector and might make for once in a blue moon opportunity. I note FRO and ETP already down significantly, although only on minor volume. I'm going to throw in some "stink" bids now on some stocks. Never know who may bite. GLTA today.
Did you see Tesla wants to acquire Solar City:
Tesla has offered to buy Solar City, the solar-power company co-founded by Elon Musk, in a bid to bring together two planks of his plan to transform the way humans consume energy.
Musk, who is CEO of Tesla and chairman of Solar City, has said he wants toremake transportation using the electric car while freeing planet Earth from a dependence of fossil fuels using solar power.
"Tesla customers can drive clean cars and they can use our battery packs to help consume energy more efficiently, but they still need access to the most sustainable energy source that’s available: the sun," Tesla said in its statement announcing the offer.
Hope you sold it in the afternoon when it jumped and closed UP $2.25. Since I"m holding for many years the tax implications of selling ETP is not something I'm prepared to deal with currently. I still have a long way to go to reach "0" cost basis so until the distribution becomes taxable I'll hang on.(hopefully).
To tell the truth I don't know how VZ continues to roar ahead with their horrendous customer service. I've had nothing but problems will all my services since last fall. It took them 3 service calls to get that repair right and currently I'll have a 3rd technician here on thursday to find out why all my on demand recordings come out pixilated, along with the sound problems. They are the WORST with their customer service.