Harbinger, HRBC:
Yes, the shareholders meeting is in Atlanta. Still looking for someone in Atlanta who is going.
If you're not sure about buying, waiting until after earnings come out would at least take that variable out of the formula. What I mean is that they have announced $20 to $30 million in one time charges in the fourth quarter, and we can expect additional one time charges in 1998, probably 1st quarter, as a result of integration of the operations. This may already be reflected in the price today.
Also, I expect news out Friday or Monday, as a result of tomorrows shareholders meetings for both Harbinger and Premenos. Tomorrow will mark the end of the acquisition period, during which current shareholders were under pressure from a combination of falling stock price and "Risk" wording in the prospectus for the shares they are voting to issue tomorrow. The news is likely to have a positive tone announcing that the merger has been approved and will contain the companys spin on the synergies of the merger. Its possible that this "news" will stimulate buying and thus this weeks low could be a bottom, and a base for an upward move. If so, there is some indication that the move would be back into the 30's, since that is where the market makers placed it right after the announcement of the merger.
You decide where to get in, I just wanted to give you my thinking, for what its worth. I've been buying from the low 30's to the low 20's and am a long term holder. I also will write some cautious covered calls while I hold Harbinger.
Let us know what you decide and lets keep some acivity on the thread. |
