SPIN-OFFS "secret hiding places of stock market profits" Message Board

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Non-Tech : SPIN-OFFS "secret hiding places of stock market profits"

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To: 249443 who wrote (970)	8/4/2006 10:29:21 AM
From: Spekulatius	Read Replies (2) of 1185

CD spinoff - for every former CD share the investor has received: 0.2 shares of WYN (29.7$) 0.25 shares of H (24.2$) 1.0 share of stub CD (2.3$) Total value of CD's fragment is around 14.3$. So far the spinoff was a dud. Off the CD fragments, H has the lowest PE (around 10) but it looks like those earnings may be shrinking for a couple of years (real estate weakness and pressure on commissions). WYN PE is around 13-14 and earnings are increasing 10%+ - this looks like the best part of CD business and i bought a small starter position today, I might buy more once i have time dig in the numbers more. Earnings for the CD stub (Avis) also are shrinking but at least revenues are rising. Valuation is somewhat unclear to me and there is quite a bit of debt

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