S&P Midcap 400 Portfolio (^MID, MDY) Message Board

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Non-Tech : S&P Midcap 400 Portfolio (^MID, MDY)

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To: Londo who started this subject	5/16/2001 4:51:14 PM
From: Londo	of 181

Place an order to buy 35 shares of Valero Energy (VLO) for a limit of $50/share, order expires after close of May 17. This company recently announced that it will buy out Ultramar Diamond Shamrock Corp, which is its largest rival when it comes to refining oil. This is a good acquisition. I am also buying a rather large stake in the company for the portfolio, as I think energy stocks will continue to rise as the situation simply gets worse and worse. This company is still listed on the S&P 400 - it is a shoe in for the S&P 500 whenever that occurs. Financials: Balance sheet is strong, although they are taking a bit of debt with their new acqusition. Cash flows remain excellent, as the company pulled in $276M in the first quarter in operating cash flow. Interest charges are 21 million a quarter, which is easily paid with existing cash flows. Options were given to buy 3% of the company at 28-29 dollars a share for the year 2000. CEO/Chair owns nearly 5% of the company.

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