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Non-Tech : Secret Squirrels hit!
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To: Trumptown who wrote (1969)11/4/1998 8:11:00 AM
From: Wayne Rumball  Read Replies (2) of 12872
 
Got a couple stocks I like this morning. Probably will buy both of them. Like to see how the market opens on them though.

One I can't figure out is CGR, not sure if I should be buying or shorting here.

Bought back 4 million shares at 10.50 = $42 million, have 91 million in equity and a few million in cash. So I guess they borrowed the money to do it. not good.

Then they said they'd buy another 1 million when the stock was around $7

So now they must have added about 50 million in debt to the books and wiped out 19 million in equity (or 50 million, depending on how they account for the share purchases) and added about 4 million/year minimum in interest payments or 0.40 cents/share. EPS this year looks like it's running below last year (0.57/share) before the buyback.

Sure looks like it should be shorted, they made a big booboo, should have stayed in the kitchen and out of the stock market. Just can't bring myself to do it with the thing sitting at it's 52 week low.
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