Speculating in Takeover Targets Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Speculating in Takeover Targets

ULBI 9.520

+1.7%

Sep 13 3:59 PM EDT

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: richardred who wrote (1795)	2/7/2008 10:56:07 AM
From: richardred	Read Replies (4) of 7120

GFF- new low -added at 9.67 to dollar cost average. Clinton Group or other big holders might have to sell shares to raise capital for their exposure to high risk instruments. I expect passive longer term holders like Mario Gabelli to pick up the slack. Directors have been buying at higher prices small to mid range purchases as recently as December. Risk here is much higher now, however I expect the credit facility to be amended without a major glitch. Just maybe it's time to sell the defense unit. GFF- new low -added at 9.67 to dollar cost average. Clinton Group or other big holders might have to sell shares to raise capital for their exposure to high risk instruments. I expect passive longer term holders like Mario Gabelli to pick up the slack. Directors have been buying small to mid range purchases as recently as December. DJ Griffon Swings To 1Q Loss, Rev Drops 21% On Housing Mkt >GFF Source: DJ Date: 02/06/08 02/06 17:18 DJ Griffon Swings To 1Q Loss, Rev Drops 21% On Housing Mkt >GFF DOW JONES NEWSWIRES Griffon Corp. (GFF) swung to a fiscal first-quarter loss, hit by the struggling housing market and the resale of existing houses in particular. The Jericho, N.Y., building product provider posted a loss of $1.36 million, or 5 cents a share, compared with a profit of $8.47 million, or 27 cents a share, a year earlier. Net sales for the quarter ended Dec. 31 declined 21% to $341.4 million from $ 434.3 million a year ago. Griffon said it expects to record a 2008 charge of $12 million to $15 million related to a reduction of its work force, plant consolidation and other restructuring activities. Griffon also reclassified its $62.5 million long-term debt as current debt, anticipating that it won't be in compliance with its credit facilities. The company also initiated talks with lenders to amend current credit agreements.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next