I agree with you on all fronts. So does that mean we see a pull back of some sorts in the near future before other news, like earnings, pushes it higher. My guess is we do - we are making lower low each news cycle so, that is a good sign. Thoughts?
The upgrade is the real surprise here. Though their TP only changed by 18% (1 dollar). The contract should've been baked in after last earnings call. This stock most likely found a new bottom at 3.75 and new channel 3.75-4.5 for the time being. Upgrades and earnings will move it higher but the summer lull will most likely keep some topside pressure on it. 40% on just the contract seems like an overreaction but the upgrade - that is what is fuel to this fire.
So, can we assume that though min volumes are higher actually IO costs (margins) will be lower. That is what I suspected but other than inferring from the following statement: "...better aligning raw material costs with pricing conditions in the steel market." there isn't anything that highlights the pricing changes.
I highly doubt it. I could see if the stock climbs to say 20 then issue 150 million shares and wipe out the debt.
Then read my comments and maybe it will put the comments you read into perspective. Let's first be fair...nobody knows for sure what their plan is with respect to issuing shares but based on the CC and the share price, I highly doubt they'd issue shares at such depressed prices. Lastly, despite what the 10Q reads, none of it other than the reporting data should be taken as gospel. Case in point: They've also been cautioning against liquidity problems since 2012.
He never said anything definitely about the issuance of stock - he only responded to an analysts question by saying - he would use all available tools at his disposal to lower debt but that he is "STOCKHOLDER friendly,,,and he owns stock". Please, stop being a a fool. The 10Q statements are created, in part by legal, and don't necessarily or accurately reflect intent. They are cautionary and catch-all in order to prevent litigation if and when they decided to issue more stock. That verbiage, in the 10Q, is not a direct quote nor is it intent.
No, but that wasn't what i was referring to. You said he is a "sell" side analyst, which maybe right, but that doesn't mean he is ALWAYS negative. The service they provide, their job, isn't to be negative or yield a "sell" recommendation for a stock. I originally thought you were joking and being tongue in check about it and just missed the quotes around "sell" but then realized you may actually believe that being a sell side analyst is inherently a negative position, which it is not. It simply differs from buy side in that buy sides look for positions to take or sell and are generally more informed where as sell sides spew out research reports and maybe feeding a client base who pay them for that service. However, you are right, he is a complete MORON.
I hope, for your sake, you are tongue in cheek with this post - but the lack of quotes makes me wonder.
Overrated, the stock is sitting at 2 dollars and change. Hardly, an "overrated" reaction. If anything they are being discounted, and discounted severely. You're a moron.
he United States on Tuesday set final anti-dumping duties of 265.79 percent on imports of cold-rolled flat steel from China and 71.35 percent on imports from Japan, finding that producers from these countries were selling the products at unfair prices.
The Commerce Department also said it levied final anti-subsidy duties of 256.44 percent on imports of Chinese cold-rolled steel.
Cold-rolled steel is primarily used in automotive manufacturing, appliances, containers and construction. The Commerce Department said 2015 imports of the metal were valued at about $272.3 million from China and $138.6 million from Japan.
This stock is spastic and painful and i can't say anything different about the industry. I should've sold when it hit 5.50 - I was up some at that point. I need to remind myself it will always drop within 2 weeks of posting earnings and can always buy it back for cheaper.
Find a truck stop along any major freeway, enter the men's bathroom, to a stall that isn't occupied and begin tapping your feet.
Except he, personally, owns a boat load. I truly think this about business and there was timeline agreed upon to dump shares. If this was just about the bottom line they would've been better off waiting until 3rd quarter earnings when there is a natural bump in basics and the market.