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Stock Thread (18 Viewers)

stbugs said:
Got mine with $0 commissions on Fidelity. I may have to check but I don’t recall seeing any. That said, I’ve got almost every account including my current 401k there so I might get some extra benefits. I keep getting emails from a wealth advisor, but I kind of like buying stocks instead of funds.
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I do see anything extra on mine from TD Ameritrade 

 
Todem said:
OK this restaurant stock just caught my attention.

BLMN

Who thinks Outback, Carabas, Bonefish Grill are going under? 

If you don’t this stock just suspended it’s dividend (who cares....we are buying it for a massive turnaround pop trade) and drew down it’s entire credit facility to sit on 400MM in cash.

They will get through this. I can’t see this huge chain brand just going under. The first thing people are doing.....once this is past us is going back out to eat. Big time.

Thoughts?
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Do they own their stores? Do any corp restaurants? Its a lot easier to meet just payroll for a longer period (>3mos?), than payroll plus rent.

 
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I'm watching the futures, looking at the hourly chart... Let's see how good I can get, but it to me it is screaming to buy at 3:28 and sell at close. 

 
cosjobs said:
Do they own their stores? Do corp restaurants? Its a lot easier to meet just payroll for a longer period (>3mos?), than payroll plus rent.
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I can't speak for all locations but many are leased.  I've seen many of them listed for sale with the lease attached over time listed on a commercial real estate site I use.

 
Heading upwards as we near close.  Just doesn’t make sense with what’s going on in the world to buy into the weekend.  
 

Is it possible that the Fed and their “limitless asset purchases” has the weight to strategically build market momentum at key times?  

 
Todem said:
We are in BLMN at $6.42

This will be a glorious trade.
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I see they took a poison pill. Great article about that process:

Coronavirus-stricken U.S. companies pop poison pills
BY Reuters
— 2:25 PM ET 03/25/2020
By Svea Herbst-Bayliss

(Reuters) - More U.S. companies are rushing to adopt so-called poison pills, dusting off a nearly 40-year-old takeover defense tool to ward off hostile bidders and activist shareholders eager to exploit the coronavirus-induced market sell-off.

The S&P 500 Index has lost about a quarter of its value in the last month, as large swathes of the U.S. economy shut down and people stay at home to prevent the spread of the virus. This has made the shares of many companies cheaper and more vulnerable to approaches by corporate rivals and hedge funds.

Ten U.S. companies have announced poison pills in March, setting a record, according to FactSet Research Systems Inc and Deal Point Data LLC. Over the last 12 months through March 25, 44 poison pills have been adopted, double the number during the previous 12-month period, according to FactSet.

Poison pills prevent other companies and investors from amassing ownership stakes above a certain threshold, by authorizing the targeted company to sell new stock to its shareholders at a discount. Pioneered by corporate lawyer Martin Lipton in the early 1980s, their use can make amassing a stake in a company much more expensive.

Poison pills are often criticized by shareholders, as well as proxy advisers such as Institutional Shareholder Services and Glass, Lewis & Co, for their dilutive effect on ownership. As a result, they have been deployed sparingly by most companies in recent years, and are regarded as an emergency measure that enables the boards of targeted companies to remain in control.

Most poison pills, which are also referred to as shareholder rights plans, are adopted for a limited time, until the takeover threat subsides. Only rarely are they exercised once announced. Nevertheless, the spike in their adoption in the wake of the coronavirus outbreak highlights how vulnerable many U.S. companies feel to hostile bids and corporate agitators after their shares nosedived, corporate governance experts said.

"Companies have been adopting poison pills at a faster pace than we have ever seen in recent years. We expect more will be coming, many more," said Lawrence Elbaum, co-head of law firm Vinson & Elkins LLP's shareholder activism practice.

Oil and gas exploration and production company Occidental Petroleum (OXY) , entertainment and restaurant company Dave & Buster's Entertainment Inc (PLAY) , petroleum refiner Delek US Holdings Inc (DK) , natural gas pipeline operator Williams Companies (WMB) , in-flight video content company Global Eagle Entertainment (ENT) and gourmet food and restaurant supply company Chefs' Warehouse (CHEF) are companies that announced the adoption of poison pills in the last 10 days.

Occidental and Delek adopted poison pills to defend against billionaire investor Carl Icahn, while the other four companies unveiled poison pills following a plunge in their stock price, without disclosing a specific threat. All of them declined to comment or did not respond to requests for comment by Reuters.

Many companies have mobilized following warnings from their advisers. Goldman Sachs Group Inc warned clients in a memo last week that cash-rich hedge funds were buying stocks in the downturn with an eye to making demands on companies later, according to one of the memo's recipients. The investment bank urged companies to discuss adopting poison pills with their lawyers.

Law firm Davis Polk & Wardwell LLP told clients in a memo last week that, while most poison pills cap ownership of any shareholders to around 15%, "a meaningfully lower threshold may be appropriate now."

HEDGE FUNDS SEEKING TO CUT LOSSES

To be sure, many activist hedge funds that had significant stakes in companies suffered losses when the stock market plunged. Yet many bought more shares following the market sell-off, lowering their cost basis in hope of offsetting or reversing earlier losses when the stocks recover. This unnerved the companies they have been targeting.

"Unlike the bedrock American companies drained by the (coronavirus) crisis, there is ample dry powder in the coffers of some funds and companies to support the continuance of activist attacks and takeover raids," Lipton, who is the founding partner of law firm Wachtell, Lipton, Rosen & Katz LLP, wrote in a note to clients on Wednesday.

Among the recent examples, Jana Partners raised its stake in restaurant chain Bloomin' Brands (BLMN) two weeks ago to 9.2% from 7.4%. ValueAct Capital last week disclosed it increased its ownership of adventure cruises company Lindblad Expeditions Holdings (LIND) to 9.8% from 7.4%. Pershing Square Capital Holdings bought Starbucks Corp (SBUX) shares after having sold a previous stake earlier in the year, fund manager William Ackman told Reuters earlier this month.

"Hedge funds don't see an economic crisis of epic proportions, they see an opportunity," said Kai Liekefett, co-chair of law firm Sidley Austin's shareholder activism practice.

 
MGM looks interesting, but I'm going to wait until next week and look at selling a bunch of January 2021 puts, maybe even as low as a 5 buck strike price.

 
Big League Chew said:
that BRZU went from 1.89 to 1.62 pretty quick
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It's crazy. I felt dumb for bailing at 1.75 when I could have had 1.89 but it's so hard to hit a homer on those. Just glad I made some scraps. I'll be eyeing it up Monday morning as well. If it's a bloodbath like  everyone thinks, we could be seeing an open around 1.30 or so - I'll be looking to perhaps jump in for another quick ride. 

 
Carly Fiorina of get this Carly Fiorina Eneterprises on CNBC. What a loser. So toxic, no one will hire her so she has to create her own company.  Probably created in 3 weeks ago and is looking for a bailout.

 
lod001 said:
Carly Fiorina of get this Carly Fiorina Eneterprises on CNBC. What a loser. So toxic, no one will hire her so she has to create her own company.  Probably created in 3 weeks ago and is looking for a bailout.
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That call was so choppy I could only hear every fourth word or so

 
Todem said:
We are in BLMN at $6.42

This will be a glorious trade.
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So you're saying I shouldn't have sold out at the close? 

Not a bad gain overall, half in at 6.59, another half at 6.41, 2.5% gain.

I'll probably buy back in Monday.

 
welp ...guess I shouldn't have taken that walk.  I gave up on a sell off and left the house.  I don't trade by phone so SOL.  I just wanted to buy for longer term so it's no great loss, but still frustrating.  

ETA:  not trying to "time" it, so trying to buy a little for the next few weeks so I don't miss "it" if we don't go lower

...while thinking we are going to go lower.

 
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Things are looking great in China right now with Coronavirus infections.  I think that is why the market rebounded this week.  The US is going to get hit really hard over the next few weeks with Coronavirus deaths but that could be the end of it.  I'm keyed in on whether a second wave of infections happens in China, Iran, or Italy.  That would bring the markets tumbling down again.

 
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McBokonon said:
MGM looks interesting, but I'm going to wait until next week and look at selling a bunch of January 2021 puts, maybe even as low as a 5 buck strike price.
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Selling cash-secured puts? I wouldn’t want to commit to tying up cash in this environment. On margin, sounds like a smart trade. 

 
Don Hutson said:
Things are looking great in China right now with Coronavirus infections.  I think that is why the market rebounded this week.  The US is going to get hit really hard over the next few weeks with Coronavirus deaths but that could be the end of it.  I'm keyed in on whether a second wave of infections happens in China, Iran, or Italy.  That would bring the markets tumbling down again.
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I actually agree with you but when you got unlimited fund propping it up, how can it get much lower.  I don't know what we are dealing with but it is nothing close to a free market.

 
Don Hutson said:
Things are looking great in China right now with Coronavirus infections.  I think that is why the market rebounded this week.  The US is going to get hit really hard over the next few weeks with Coronavirus deaths but that could be the end of it.  I'm keyed in on whether a second wave of infections happens in China, Iran, or Italy.  That would bring the markets tumbling down again.
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I think once any restrictions on self-isolation or quarantine are lifted, a second wave is inevitable. 

 
The Lost One said:
I anticipate, like others have experienced already, that I, as a teacher, will be doing remote teaching for the remainder of the school year.  I don't think we make it back to our classrooms. Standardized testing is toast. 
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My wife's district went to virtual as of yesterday.

 
NajehHejan said:
It's crazy. I felt dumb for bailing at 1.75 when I could have had 1.89 but it's so hard to hit a homer on those. Just glad I made some scraps. I'll be eyeing it up Monday morning as well. If it's a bloodbath like  everyone thinks, we could be seeing an open around 1.30 or so - I'll be looking to perhaps jump in for another quick ride. 
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I saw your post, bought at 1.72, and sold for 1.84. I bought it back right before close at 1.62. I'll  be following Monday morning. 

 
Todem said:
OK this restaurant stock just caught my attention.

BLMN

Who thinks Outback, Carabas, Bonefish Grill are going under? 

If you don’t this stock just suspended it’s dividend (who cares....we are buying it for a massive turnaround pop trade) and drew down it’s entire credit facility to sit on 400MM in cash.

They will get through this. I can’t see this huge chain brand just going under. The first thing people are doing.....once this is past us is going back out to eat. Big time.

Thoughts?
Click to expand...
Don’t they carry a ton of debt (~2 billion)?

 
How do some of you buy and dump multiple stocks in a day? Is there some day trader thing that you have to be approved for? Or do you have an account that you trade with in. 

Sorry if it’s a dumb question. 

 
Wooderson said:
How do some of you buy and dump multiple stocks in a day? Is there some day trader thing that you have to be approved for? Or do you have an account that you trade with in. 

Sorry if it’s a dumb question. 
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I’m a noob. Let me answer your question with pure confidence.  If you have more than 25k in your account you can make unlimited moves.   If not your stuck with 5 per week

 
Wooderson said:
How do some of you buy and dump multiple stocks in a day? Is there some day trader thing that you have to be approved for? Or do you have an account that you trade with in. 

Sorry if it’s a dumb question. 
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Online brokerage account.  I use TD Ameritrade.  Fidelity is another popular choice. 

 
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