Likes SNDK saw him say that last week which gave SNDK a nice pop to over $83 (allowed me to sell my SNDK) he commented on supply demand for nand flash says it is relatively healthy which flies in the face of what some others say. Meeks is actually a pretty good analyst these days although he was another of a long list a paid pumpers during the tech blowup.
I don't know if it's just coal I believe at this point a big percentage of Walter's problems are this horrible management team. Yeah coal is down and out but these guys are like TNT in a basement of a house fire.
I posted the other day that the markets do have amnesia on a lot of news items. The PBR news appears for now to be a one day hit but the day is very early right now and "everything" seems to following the price of oil. I read an Motley Fool article saying that the PBR hit was about $300 million which possibly can be made up I would think. The article was fear mongering more about the reliability of the rest of their back log but at this point you can say that about almost every energy company.
A lot of the stuff is now in some of these stocks. Most knew they were cutting the dividend and it is still a nice dividend but you probably get a little extra since the CEO left.
Upped from $42 to $45 rating buy. It is an upgrade despite Jefferies being one of the more bullish firms with their calls along with Stiefel, Topeka and a few others. Either way it has the stock up in the early pre-market now. RBC also went from $42 to $44 rating outperform.
I think the cost over run and the delay hit the stock a bit extra the day it was announced. Mississippi Power expects to file for a rehearing. All utilities are in free fall and at this point possibly into the Fed meeting next week the news story seems irrelevant. I put a few of them on my screen today (actually traded some SO today made some money) they traded in tandem today almost an equal amount for each off the day's low all day long. It is all being run by machines and algos along with the markets tied to the move in oil.
were bearish tonight on MU based on the recent performance. However I'm not sure if they noticed the past few days and the very fast $4 move. I still think we see $33 at some point next week.
OK they can eliminate the dividenT but they should still pay out a dividenD to shareholders that's what utilities do. It's now up to 4.51% compared to 2% ten year. Soon the value guys will be buying it may have bottomed today if not it's close. The utilities did bounce off the lows late in the day. We'll see how they act next week especially with the Fed on Wednesday. A lot of the selling is probably in anticipation of their statement. Imagine if the Fed says they will stay on hold then you see a bottom in the sector.
It's what utilities do funnel cash to shareholders. Almost all utilities have rolling debt but they generate consistent cash flow to allow borrowing for dividends,capital projects, etc.
the markets cannot rally without oil. The algos have them attached at the hip and as oil has pulled back more than a buck since lunch time so has the market. Also markets are at highs too.
I think traders take profits since the markets are closed Monday. They will now want to be fully long going into Tuesday before the Wednesday number.
What's amazing is a near $8 drop off the 52 week high in such a short period of time. Now that the ex date has past hedge funds will try to hit them harder. How much have rates really moved? In percentage amounts many of the big regulated utilities are down about the same. It seems that they figure that there is little growth here and they are rotating into tech to try to capture growth. Markets always overshoot in both directions and it appears it may be happening here too. It just seems silly that these stocks go down a buck or more each day at some point the trade will flip when these guys figure it is done.
Shares may correct especially after they report I cannot imagine they have a lot of good news to tell after dropping the hedges and oil plunging. There has to be a big hit to their numbers in their first report since oil bottomed for now however right now every energy stock and the markets are trading off OIL and that's it. I posted days ago that you short near $48 (which seems to be a top) and you buy near $44 (even lower if it breaks $44) for now. Oil will pull back production is not slowing despite rig cuts and they will eventually have no place to put it. These stories about Europe picking up and will consume more I don't buy look at the horrible retail numbers here with cheap gas people are paying debt and their bills not buying diamond rings and driving to malls. Oil has to compete with the nat gas prices and that will affect things going forward right now traders are just piling on after every dip from the Wednesday's inventory numbers then selling on the next Monday into Tuesday after we see the next big build.
and it's only 8am. These guys are buying every inventory number drop and running the price until the following Monday into Tuesday. I have a feeling that will end soon when they run out of boats and places to store oil. SDRL is already recovering off the early lows because these stocks are chasing the oil trade along with the market in general. After yesterday's bad retail numbers and the poor jobs number markets should have been down as much as they were up but the sad reality continues that the algos are tied to the oil trade and that is it. Yeah Greece and the Ukraine are a factor but the market already knew those would be worked out. It's all about oil and S&P estimates and the affects of the oil price drop so as oil grinds higher so will the markets.
I don't understand why oil keeps trying to go higher other than traders following whatever trend is in fashion and I understand the rig numbers but production is still moving forward at very good levels and at some point they will run out of places to store it. The last three inventory builds are being ignored by the traders for now but at some point they will start paying attention when we are asked to store some in our backyards. I do agree with you about it is a good trading stock I have put some away at these very low levels hoping for near $20 by year's end but in between it is a good trade also like LINE and LNCO are.
Time will heal the oil trade in general. If they replace this void with another order all will be forgiven. Markets have short memories in another few days SDRL shares will be following oil like all the energy stocks are right now. The funny thing is people knew this yesterday based on SDRL's price action in an up market and oil trade. Wall Street is not rigged and there is nothing wrong with insider information is there?
It's there now but the market's rally today makes very little sense based on the bad retail numbers and the poor weekly jobs numbers. On a normal day we would be down 100 but it's all about the algos tied to oil the market is following oil....period! This MU move is great I sold some today and looking for $33 or better to sell the rest I hope.