Potential Value play...with Carl Icahn on board,,,,and a great book value....might be something worth buying for those with patience.
FMO--$ 9 11/16, as of close on 6/6/00
Book Value of 27.78
PE 3.26
PS 0.12
PB 0.35
Last analyst...Bear Stearns downgrade from Buy to Neutral.
last earnings news from thestreet.com
Federal-Mogul (FMO:NYSE - news - boards), an auto parts maker, warned investors that its second-quarter and fiscal-2000 results would miss consensus estimates. The company said it would report second-quarter earnings of about 65 cents a share, below the nine-analyst estimate of a $1.12 profit, while fiscal-2000 earnings should come in at $3.00, which is also short of the 10-analyst estimate of $3.87. Federal-Mogul blamed the shortfall on softness in North American aftermarket results and negative currency fluctuations. Federal-Mogul staggered 2 3/8, or 20.1%, to 9 7/16.
News from 3/29----
The Southfield, Mich.-based auto-parts supplier (FMO: news, msgs) advanced 3 3/16 to close at 15 7/16 following Tuesday's disclosure that a group controlled by investor Icahn acquired 5.2 percent of Federal's outstanding stock, according to documents filed with the SEC.
Icahn, through High River LP and Riverdale LLC, purchased 3.6 million shares for more than $63.6 million for "investment purposes," according to documents filed late Tuesday. |
