I very much doubt you'll be sorry about becomming a new stockholder at these levels.
No spin needed Dave. A company having over 100 mill in cash ain't a bad thing...that's if they sell the shares in the first place as we don't know that they will...and if they do, it'll be over and done with before we even know....in no way is this the equivalent of the offering last year but as Aany said, some need to take their profits and move on...it's okay either way.
and PSTI have news to give them a boost....If you have SGYP...stay here and be better off.
noticed any tutes or Cerrone and company unloading shares? I see buying but not selling.
good examples are CYTK and IRWD....neither were punished by the market....I doubt SGYP will be either.
It isn't even real news. Just a company building with option to build a treasure load of cash should it decide to see some shares....MM's will make a big deal of it and I guess since it stimulates more trading they're just doing their job.
I would assume 'at the market' price...MM's love the confusion something like this creates for stockholders....kind of sad but never think of a MM as a 'longs' friend...they're paid by the trade and since longs, by definition, hold for a long period of time.....MM's like shorts, momo's and daytraders much more. Won't derail the SGYP train but MM's could not care less if it did..
Like I said Hoosier....you have simply too much anger built up in you...probably a part of it is that joke of a college basketball team...and I came up with your ID in a prior post already....Worm...
I do agree the bad news has been baked in....nothing really to react to in the Moody's article but some will..no doubt.
Nothing commits them to actually selling any stock but it does enable them to do so. I'd rather them have it lined up and ready to go if perceived to be needed to get to the goal line. A sign of a pro-active management and that's a good thing..
pronouncing doom and gloom....short's pull the same crap on every other stock so might as well do it here as well.
Forest's SGL-3 Speculative Grade Liquidity Rating reflects our expectation of adequate liquidity through 2014, notwithstanding the likely need for covenant relief, which we assume will be forthcoming from Forest's banks. We expect Forest's capital budget of $290-$310 million to result in a cash flow deficit approximating $150 million in 2014, a portion of which will be funded by $67 million of residual cash proceeds from the Panhandle asset sale. At December 31, Forest had an undrawn $400 million secured borrowing base revolving credit facility, although we assume the borrowing base will likely be reduced in conjunction with bank negotiations over covenant relief. The revolver includes a leverage covenant limiting debt/EBITDA to 5x through March 2014 before tightening to 4.75x in 2014's second quarter and 4.5x at June 30. While the company's cash balance should be sufficient to fund Forest's negative free cash flow through mid-year, without covenant relief Forest's ability to access the revolver to cover its liquidity needs during the second half of 2014 would be severely restricted. The revolver is secured by a mortgage and security interest in Forest's proved oil and gas properties and related assets; we view Forest's alternate sources of liquidity as weak.
Another operator in the region, Forest Oil Corporation (FST) announced that it has improved well drilling and completion efficiencies in the Eagle Ford shale. As a result, the company will be able to lower well operating cost by 12% this year. The cost of operating a well will be around $5 million, down from $5.6 million incurred in fourth quarter 2013. This development will make drilling more profitable in the region
Furthermore, the article indicates an upgrade is possible within 2014 depending upon production.....
Sentiment: Strong Buy
today's action was definitely healthy..it's consolidated again in the 6.30's so I agree it's firmly ready for the next move up.
you need to learn how to let things go. You harbor such bitterness towards FST that it has nearly destroyed your investing sense to the point where now all you have motivating you to get out of bed each day is hoping to see some of those investments that you failed to get into at the right price fail.....good luck and let me know if you need to get into an Anger Management class and I'll try and find you one.
SGYP had critics and some bashers...the critics aren't really doing so much of that (if any) anymore cause there's just no need to....bashers such as M are just being ridiculous and I absolutely refuse to reply to one of M's posts just in case he/she's being paid for them....the science could still have a glitch somewhere along in the trials being conducted but it is unlikely...welcome to the board....Hawk