Mose
Footballguy
It has already exceeded it's average daily volume as well.
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My Stock Value Strategy Starts Now (5 Viewers)
- Thread starter David Dodds
- Start date
NYG Endzone
Footballguy
Anyone looking for a good buy dip? I'm in at $5.09 and considering getting in for more around $5.30
Cavalier
Footballguy
After PRGN there is no way I am selling before tomorrow morning.
Otis
Footballguy
I think I may be in this boat too.
The Z Machine
Footballguy
Man I wish I had monies to invest in SBLK today. I'm in deep for PRGN and DRYS though.
Mose
Footballguy
yea, after what happened with PRGN, it is hard to sell now. I will have a quick trigger finger in the A.M. though!I'm in with 2000 shares at $5.05 here.
Can one of you HEB guys explain why this stock is trading so flat on such a heavy vloume day? Did this yesterday for most of the day too. 15% of the outstanding shares are changing hands at the same price. WTF...are people thinking $1.70 isn't good enough after their moring dump but figure it's OK before heading out to lunch???
KGB
Footballguy
Yea. I can't figure it out either? Why would people be selling at 170? Its like they don't want the price above that???
Mose
Footballguy
slight dip happening...
Das Boot
Footballguy
KGB
Footballguy
That offering is long gone. Its gone up 30% since that.
bigfishboy
Footballguy
I too, sold half my PRGN before earnings becasue I was worried. I won't do that again without good information that the company will miss.I am in it for earnings. I am still holding that half of PRGN, and wished I sold that day. I will get out of SBLK tomorrow if it reports good earnings and takes a jump.
Just bought my 1000 shares back of DRYS at 6.75
I waited too long and it already moved a dime.
David Dodds
Administrator
OK, did a little digging into the SEC documents regarding PARAGON and they dilluted 10 Million shares at these prices:
http://finance.aol.com/company/peregrine-s...pdf/sec-filings (page 9)
6.2435 M @ 3.65
3.57565 M @ 4.74
meaning Cantor Fitzgerald investments got 10M shares at an average of $4.06. Just like what happened at OCNF, these shares are being leaked into the market (and based on the volume I think all right now). These guys are not looking to invest and hold these shares so they dump them at whatever price thy can get (since it's way above $4.06 their cost). And the more they dump, the lower PRGN goes.
I do think though that Cantor Fitzgerald should be coming close to being out of their shares based on the volume on the days after earnings.
I contend this stock is still way undervalued even with the dilution (37 Million shares now) and like the fact that PRGN themselves still has $20M to spend adding shares. I am just going to wait this craziness out for a bit here. It sucks to see the price go lower, but I believe it will be temporary. I am not going to add addditional shares though unless it goes below $5. I am going to watch this closely to see when it looks like PRGN is buying shares. That will be the buy signal that this thing is headed much higher.
http://finance.aol.com/company/peregrine-s...pdf/sec-filings (page 9)
6.2435 M @ 3.65
3.57565 M @ 4.74
meaning Cantor Fitzgerald investments got 10M shares at an average of $4.06. Just like what happened at OCNF, these shares are being leaked into the market (and based on the volume I think all right now). These guys are not looking to invest and hold these shares so they dump them at whatever price thy can get (since it's way above $4.06 their cost). And the more they dump, the lower PRGN goes.
I do think though that Cantor Fitzgerald should be coming close to being out of their shares based on the volume on the days after earnings.
I contend this stock is still way undervalued even with the dilution (37 Million shares now) and like the fact that PRGN themselves still has $20M to spend adding shares. I am just going to wait this craziness out for a bit here. It sucks to see the price go lower, but I believe it will be temporary. I am not going to add addditional shares though unless it goes below $5. I am going to watch this closely to see when it looks like PRGN is buying shares. That will be the buy signal that this thing is headed much higher.
#@%&$!?
Footballguy
BDI up another 5.6% to 2,942. Currently upside down with 1k shares at $5.50, but being patient & holding.
bigfishboy
Footballguy
Congratulations winner! Now flip it over to FAS at 3:55, and see if you can ride it up 10% tomorrow for a double gain!Forgive me for I have sinned.FAZ
Done.$148 profit on the day.Just bought 200 FAS.Also added 500 more SBLK but I'm not feeling great about it.Congratulations winner! Now flip it over to FAS at 3:55, and see if you can ride it up 10% tomorrow for a double gain!Forgive me for I have sinned.FAZ
bigfishboy
Footballguy
Not as many FBG's in SBLK and not nearly as much FBG money in it. A few of us are and are eagerly awaiting. Though your right, not much posting. The market taking a pooh today doesn't help our motivation.It also looks like FREE (up 10%) might have been the earnings report play here instead of SBLK.A good report and a positve market tomorrow would get the posters out.Good luck to all!
bigfishboy
Footballguy
Excellent, hope that makes up for some FAZ misfortunes.I am in FAS at 9.58, and was hopeful after yesterday. I wish GM would just blow up so people wouldn't have to worry about whati is next for them.Done.$148 profit on the day.Just bought 200 FAS.Also added 500 more SBLK but I'm not feeling great about it.Congratulations winner! Now flip it over to FAS at 3:55, and see if you can ride it up 10% tomorrow for a double gain!Forgive me for I have sinned.FAZ
Random
Footballguy
Good sign that it took off right before the close. When is the report?And while we're at it, whats a dry bulk shipper?
Otis
Footballguy
Very well done. Every time FAZ goes below 5 it's good for 10% quickly. I keep getting tempted but I'm too scared. Weak.Congratulations winner! Now flip it over to FAS at 3:55, and see if you can ride it up 10% tomorrow for a double gain!Forgive me for I have sinned.FAZ
Otis
Footballguy
You mean After Hours: 5.44 +0.07 (1.30%)I don't see anything on earnings yet. Can someone post here when it's out?
-- For the first quarter of 2009, net income was $22.5 million versus net
income of $16.7 million for the first quarter of 2008, an increase of
approximately 34%.
-- For the first quarter of 2009, total revenue was $45.1 million versus
total revenue of $41.7 million for the first quarter of 2008, an increase
of approximately 8%.
-- Earnings per share, basic and diluted for the first quarter of 2009
were $0.37 based on a weighted average of 60,390,219 shares outstanding,
basic and diluted.
-- Earnings per share, basic and diluted for the first quarter of 2009
were $0.16, excluding non-cash items.
-- EBITDA for the first quarter of 2009 was $40.8 million. Adjusted
EBITDA for the same period excluding all the above was $27.8 million.
income of $16.7 million for the first quarter of 2008, an increase of
approximately 34%.
-- For the first quarter of 2009, total revenue was $45.1 million versus
total revenue of $41.7 million for the first quarter of 2008, an increase
of approximately 8%.
-- Earnings per share, basic and diluted for the first quarter of 2009
were $0.37 based on a weighted average of 60,390,219 shares outstanding,
basic and diluted.
-- Earnings per share, basic and diluted for the first quarter of 2009
were $0.16, excluding non-cash items.
-- EBITDA for the first quarter of 2009 was $40.8 million. Adjusted
EBITDA for the same period excluding all the above was $27.8 million.
First Quarter 2009 Highlights
For the first quarter of 2009, net income was $22.5 million versus net income of $16.7 million for the first quarter of 2008, an increase of approximately 34%.
For the first quarter of 2009, total revenue was $45.1 million versus total revenue of $41.7 million for the first quarter of 2008, an increase of approximately 8%.
Earnings per share, basic and diluted for the first quarter of 2009 were $0.37 based on a weighted average of 60,390,219 shares outstanding, basic and diluted.
Earnings per share, basic and diluted for the first quarter of 2009 were $0.16, excluding non-cash items.
EBITDA for the first quarter of 2009 was $40.8 million. Adjusted EBITDA for the same period excluding all the above was $27.8 million.
Akis Tsirigakis, President and CEO of Star Bulk, commented: "We are pleased to report our sixth consecutive profitable quarter. We are also satisfied that with the consistent implementation of our strategy we have achieved, what we believe is the most balanced business model within our peer group, in terms of balance sheet strength, debt level, contract coverage, first-year growth and revenue per dollar invested while steering clear of newbuilding orders. With a current cash position in excess of $73 million, coupled with the Shelf Registration we filed earlier in 2009 for up to $250 million and our relatively modest debt level, we are well positioned to take advantage of opportunities.
"Since the beginning of the year, we have been able to further enhance the revenue visibility of our fleet by entering into new or amended employment agreements for ten of our vessels as well as into index-based profit sharing arrangements for three of our vessels enabling us to share into the potential market upside. As of today, we have secured over $425 million in contracted revenue with 100% of our fleet operating days for 2009 contracted, 71% for 2010 and 42% for 2011.
Finally, I would like to mention that we have closed all of our FFA positions which in the past we utilized as a hedge given that presently all of our vessels are under time charter contract."
George Syllantavos, Chief Financial Offer of Star Bulk, commented: "As of March 31, 2009, our senior debt stands at $284.5 million; the remaining principal debt repayments in 2009 are about $35 million and for 2010, $59 million. With 100% of our fleet locked in on long term contracts for the remainder of 2009 we expect our cash position to grow further enhancing our solid balance sheet. We generate in excess of $9,000 per vessel per day over the daily breakeven of $23,350 which translates into an average of $108,000 per day for our fleet of twelve vessels indicative of our strong cash flow generation and profitability.
"We recently announced that we have commenced in-house technical management of our fleet which will improve our cost structure going forward and aligns the company's financial, commercial and operational matters under our management."
For the first quarter of 2009, net income was $22.5 million versus net income of $16.7 million for the first quarter of 2008, an increase of approximately 34%.
For the first quarter of 2009, total revenue was $45.1 million versus total revenue of $41.7 million for the first quarter of 2008, an increase of approximately 8%.
Earnings per share, basic and diluted for the first quarter of 2009 were $0.37 based on a weighted average of 60,390,219 shares outstanding, basic and diluted.
Earnings per share, basic and diluted for the first quarter of 2009 were $0.16, excluding non-cash items.
EBITDA for the first quarter of 2009 was $40.8 million. Adjusted EBITDA for the same period excluding all the above was $27.8 million.
Akis Tsirigakis, President and CEO of Star Bulk, commented: "We are pleased to report our sixth consecutive profitable quarter. We are also satisfied that with the consistent implementation of our strategy we have achieved, what we believe is the most balanced business model within our peer group, in terms of balance sheet strength, debt level, contract coverage, first-year growth and revenue per dollar invested while steering clear of newbuilding orders. With a current cash position in excess of $73 million, coupled with the Shelf Registration we filed earlier in 2009 for up to $250 million and our relatively modest debt level, we are well positioned to take advantage of opportunities.
"Since the beginning of the year, we have been able to further enhance the revenue visibility of our fleet by entering into new or amended employment agreements for ten of our vessels as well as into index-based profit sharing arrangements for three of our vessels enabling us to share into the potential market upside. As of today, we have secured over $425 million in contracted revenue with 100% of our fleet operating days for 2009 contracted, 71% for 2010 and 42% for 2011.
Finally, I would like to mention that we have closed all of our FFA positions which in the past we utilized as a hedge given that presently all of our vessels are under time charter contract."
George Syllantavos, Chief Financial Offer of Star Bulk, commented: "As of March 31, 2009, our senior debt stands at $284.5 million; the remaining principal debt repayments in 2009 are about $35 million and for 2010, $59 million. With 100% of our fleet locked in on long term contracts for the remainder of 2009 we expect our cash position to grow further enhancing our solid balance sheet. We generate in excess of $9,000 per vessel per day over the daily breakeven of $23,350 which translates into an average of $108,000 per day for our fleet of twelve vessels indicative of our strong cash flow generation and profitability.
"We recently announced that we have commenced in-house technical management of our fleet which will improve our cost structure going forward and aligns the company's financial, commercial and operational matters under our management."
needanap
Footballguy
From Etrade account I can only see the headlines...Star Bulk Carriers 1Q Non-GAAP EPS 16c...4:05 PM ET | Dow Jones Star Bulk Carriers 1Q Rev $45.1M...4:05 PM ET | Dow Jones Star Bulk Carriers 1Q Net $22.5M...4:05 PM ET | Dow Jones Star Bulk Carriers 1Q EPS 37c >SBLK4:05 PM ET | Dow Jones
bigfishboy
Footballguy
In case anyone wants the webcast info:STAR BULK ANNOUNCES DATE FOR THE RELEASE OF FIRST QUARTER 2009 RESULTS, CONFERENCE CALL AND WEBCAST Earnings Release: Wednesday May 27, 2009, After Market Close Conference Call and Webcast: Thursday May 28, 2009, at 9:00 a.m. EDT Athens, Greece, May 22, 2009 - Star Bulk Carriers Corp. (the "Company" or "Star Bulk") (Nasdaq: SBLK), announced today that it will release its results for the first quarter ending March 31, 2009 after the market closes in New York on Wednesday, May 27th, 2009. Star Bulk's management team will host a conference call to discuss the Company's financial results on Thursday, May 28th, 2009, at 9:00 a.m., Eastern Daylight Time (EDT). Conference Call details
articipants should dial into the call 10 minutes before the scheduled time using the following numbers: 1(866) 819-7111 (from the US), 0(800) 953-0329 (from the UK) or +(44) (0) 1452 542 301 (from outside the US). Please quote "Star Bulk." A replay of the conference call will be available until June 4, 2009. The United States replay number is 1(866) 247-4222; from the UK 0(800) 953-1533; the standard international replay number is (+44) (0) 1452 550 000 and the access code required for the replay is: 3128607#. Slides and audio webcast:There will also be a simultaneous live webcast over the Internet, through the Star Bulk website (www.starbulk.com). Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast.
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None_More_Black
Footballguy
You have to remember that SBLK went up big the same day prgn did. The stock closed around 5.40 today. When Paragon reported they were in the mid four range. SBLK earnings should be fine as they are 100% chartered for the year and list the rates on their website. I just don't think it will trade that much above six with good earnings. We will see. If SBLK trades above six tomorrow it will be an incredible run. The stock would have doubled in two weeks.
Otis
Footballguy
Give it time to settle.Really? Then why are we seeing this?After Hours: 5.00 -0.37 (-6.89%)
David Dodds
Administrator
How does this company with minimal debt earn so little per share? Their P/E is going to look pretty bad here I think even though this will likely be their worst quarter.
iowa clubbers
Footballguy
DD thanks for info on Cantor Fitzgerald 10 million shares. That along with gap theory explains a lot. I'm now sitting with 7,000 shares of PRGN with ave cost of $5.39 and not worried.
Can't hurt to have bullish news on dry shippers...
SmarTrend® News Watch: Morgan Stanley Bullish on Dry Bulk Carriers and Tankers
Wednesday 05/27/2009 1:59 PM ET - Comtex Smartrend®
In a research note to clients, Morgan Stanley believes that improved credit conditions and positive GDP revisions should drive a steady recovery in the commodity shipping sector over the coming years. In the near term, the firm favors dry bulk names and suggested Diana Shipping (NYSE
SX), Eagle Bulk Shipping (NASDAQ:EGLE), Genco Shipping (NYSE:GNK), and Paragon Shipping (NASDAQRGN) as top picks in the sector. Morgan Stanley said that it remained cautious on DryShips (NASDAQRYS) given the recent share dilution. The firm also believes that improving oil fundamentals should result in an increase in cross trades and a modest rebound in freight rates into the second half of 2009, which should cause tanker fundamentals to also improve. Morgan Stanley selected Nordic American Tanker Shipping (NYSE:NAT) as its top pick in the tanker sector. The firm noted that improving credit markets have led them to upwardly revise their ship value projections. Morgan Stanley believes that while Nordic American should continue to capitalize n its ability to generate accretive acquisition growth, Teekay (NYSE:TK) should benefit from an improved financing market.
Can't hurt to have bullish news on dry shippers...
SmarTrend® News Watch: Morgan Stanley Bullish on Dry Bulk Carriers and Tankers
Wednesday 05/27/2009 1:59 PM ET - Comtex Smartrend®
In a research note to clients, Morgan Stanley believes that improved credit conditions and positive GDP revisions should drive a steady recovery in the commodity shipping sector over the coming years. In the near term, the firm favors dry bulk names and suggested Diana Shipping (NYSE
SX), Eagle Bulk Shipping (NASDAQ:EGLE), Genco Shipping (NYSE:GNK), and Paragon Shipping (NASDAQRGN) as top picks in the sector. Morgan Stanley said that it remained cautious on DryShips (NASDAQRYS) given the recent share dilution. The firm also believes that improving oil fundamentals should result in an increase in cross trades and a modest rebound in freight rates into the second half of 2009, which should cause tanker fundamentals to also improve. Morgan Stanley selected Nordic American Tanker Shipping (NYSE:NAT) as its top pick in the tanker sector. The firm noted that improving credit markets have led them to upwardly revise their ship value projections. Morgan Stanley believes that while Nordic American should continue to capitalize n its ability to generate accretive acquisition growth, Teekay (NYSE:TK) should benefit from an improved financing market.
Otis
Footballguy
Well this was ugly. Per my buddy:
they missed
light on revenue
missed earnings consensus
eps of .16 per share vs. .25 estimate
45.1 mil revenue vs. estimates of 54+ mil
although it looks like they issued like 30% more shares at some point
not sure when that was
i presume that was factored into the estimates
that's some serious dilution though
they missed
light on revenue
missed earnings consensus
eps of .16 per share vs. .25 estimate
45.1 mil revenue vs. estimates of 54+ mil
although it looks like they issued like 30% more shares at some point
not sure when that was
i presume that was factored into the estimates
that's some serious dilution though
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James Daulton
Footballguy
What's going on with FREE?
