Gendalo-Gehem project will eat MDR alive - its a very, very complex job and MDR has lost most of there great engineering staff in the US - if they think that this can be done in their Indian Engineering office, they are in for a real big surprise. Easy projects, the Indian Engineers are fine - complex, they are in trouble. This project will finish off the company.
Sentiment: Strong Sell
Well,based on what I hear, they are abandoning North American (Morgan City closing), Mexico/Brazil are on there death bed and no oil company wants to use those facilities. Mdr have let there good Engineering group in US/Dubai be decimated and are relying on Chennai India which is suspect and needs to be proven which to date they have not. It will be problematic if anyone will take the chance on there skills - Little value bidding has been occurring in the last year or so.
Lets see - sub sea have yet to win a job.
I just don't see any plans or a decent going concern as of yet.
Sentiment: Strong Sell
The issue/problem is the shock after management said they were not going to cut the DIV - It will take a while - maybe a few weeks or more for the selling to stop - I sold a bunch after Cramer/others started questioning the high div -- sold the rest Friday at 7 #$%$ ) and have started buying (different account) at 5.75 and expect to have my large position back in the next few days at a much lower basis - need to make up the loss of 3 dollars a share - will then take the div for the next year (better the MM) and reasses ownership quarterly.
Sorry, it was a classic pump and dump - no source of the rumor, no follow though with the rumor stating who, when, last time this stunt was pulled was late last year with volume maxed at 13 million, this time 6 million an mostly retail. - classic
That was yesterdays rumor, that rumor comes around every few months - No one will buy this company until all the #$%$ settles down - maybe late summer or early fall earliest without chance of value imparement. What will be needed is a validation of sales, midigation of lawsuits and if growth will continue - if not, there will be no buy-out - maybe a take under in a year or two.
Probaaby right - but will not be done for 3-4 years (Court) - settlement will not happen due to other civil suits - SP will drag this out till a new administration then it will go away.
Sentiment: Strong Buy
I don't understand why the panic, most people are using this as a hedge to their portfolio - At least I am. Just a little insurance that if all hell breaks loose, I am covered - other wise, its a cost of a hedge.
With Carl Icahn on board, this is more of a negative then a positive - Mr. Icahn will do what is good for him, not always what is good for the holders or the company
Sorry, just the start - wait till the margin calls hit - when people become scared that it wont come back - Look for 1.25-1.50 late today/early Wensday 100 mill Plus will trade
That is not a true statment - You can rely on the work of other auditor - it is done all the time. I will rely on the work of other auditors all the time. What you need is their permission, you need to verify that there work is reliable, follows either internal standards, FASB,GAAP, ORB, and/or other substantive standards. If you can't follow there documentation, or if it does not meet your standards, you may not want too, but nothing keeps from using it.
You have a fantasy - I hope it works out for you.
Buy, sorry the audit will be complete before the end of June (Maybe earlier) usually 6 weeks after commencement
I doubt, it will be at a reduced amount - should stablize around 4-5 depending on the mood of this sector.