More here, spamming low priced shady BB stock:
siliconinvestor.com
Roger, I beg to differ.
In times when big caps are up a lot, and the NDX is up a lot, measured by the September lows, it is natural that smaller investors (and the touting brokers) turn to more speculative issues (Mama Bear called it correctly shill-o-meter which also ticked up after the 1998 correction and in the late bull of 2000).
I notice it every day, people are buying stock, not selling stock (in general, other than the energy sector). People are buying dips in tech issues, or sectors which lagged the market...Don't overlook that the current development meets the definition of bullish in some (not all) aspects, most prominently the 20%+ move from the lows.
It may have to do something with Phase 1 in the dow theory (namely that people buy in expectation of the economic recovery while the general opinion was very negative), or it may still be a bear rallye (like the Japanese market had a 20% bear rallye after its spectacular crash in the 90s).
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FYI ENE filed for bankruptcy, sues Dynegy for $10B,...
biz.yahoo.com
biz.yahoo.com
ENEs effect is firsthand rippling through issues like EOT (not involved in the ENE ch.11 filings), definitely DYN, and some financials with higher exposures.
marketwatch.com
NEW YORK (CBS.MW) -- The following is a list of companies who have said they are exposed to Enron's collapse as well as the amounts they stand to lose and details on any other links to the former energy merchant leader.
Principal Financial Group (PFG: news, chart, profile): $171 million, plus another $50 million from investments in Enron-related entities. The company expects to take a charge in the fourth quarter due its exposure.
KCS Energy (KCS: news, chart, profile): around $3.8 million from hedges in the fourth quarter and the year 2002 and oil and gas sold through Enron entities.
Nicor Inc. (GAS: news, chart, profile): under $5 million.
Westport Resources (WRC: news, chart, profile): less than $3.2 million in commodity sales contracts with Enron affiliates, taking into account the $800,000 it owes under an early contract termination provision.
Aegon (AEG: news, chart, profile): gross loan exposure of $300 million.
PPL Corp. (PPL: news, chart, profile): less than $10 million, plus a possible $6 million annually through 2006 under long-term contracts.
Allegheny Energy (AYE: news, chart, profile): less than $5 million.
American Electric Power (AEP: news, chart, profile): less than $50 million.
Abbey National (UK:ANL: news, chart, profile): $164 million (115 million British pounds). Second-half earnings will be hit by $136 million (95 million British pounds) for loan exposure.
ABM Amro (ABN: news, chart, profile): may have to take $98 million (110 million euro) provision in the fourth-quarter, according to Dow Jones.
ING Group (ING: news, chart, profile): $195 million, according to Reuters.
Credit Lyonnais (FR:012529: news, chart, profile): owed $250 million with half the amount guaranteed by assets, according to Dow Jones.
The Royal Bank of Scotland (UK:RBOS: news, chart, profile): likely below $100 million, according to HSBC.
Barclays (UK:BARC: news, chart, profile): likely below $100 million, according to HSBC.
Wiser Oil (WZR: news, chart, profile): has $6.1 million in 2001 and 2002 hedges with Enron.
Energen (EGN: news, chart, profile): sees 2002 earnings-per-share 20 cents to 25 cents lower than expected if Enron doesn't fulfill its contractual obligations.
FPL Group (FPL: news, chart, profile): "minimal" at $2 million.
National Fuel Gas (NFG: news, chart, profile): $10.4 million.
KeySpan (KSE: news, chart, profile): less than $4 million.
TC PipeLines (TCLPZ: news, chart, profile): "no material adverse impact" its financial conditions, but it holds a 30 percent general partner interest Northern Border Pipeline Co., a company that has relationships with Enron.
Range Resources (RRC: news, chart, profile): no material impact on its business, but can't estimate exposure its various counter parties may have with Enron.
NRG Energy (NRG: news, chart, profile): less than $10 million.
Plains Resources (PLX: news, chart, profile): if Enron fails to comply with contractual obligations, Plains sees total fall of $638,000 in 2001 and 2002 revenue.
Encore Acquisition (EAC: news, chart, profile): no material adverse affect on its financial condition, but future hedge settlements through 2003 due for payment from Enron total $4.1 million.
Reliant Resources (RRI: news, chart, profile): about $80 million.
Williams Cos. (WMB: news, chart, profile): less than $100 million.
Duke Energy (DUK: news, chart, profile): about $100 million in unsecured exposure. Company still sees 10 percent to 15 percent in compound annual earnings-per-share growth from a base of $2.10 in 2000 and will likely exceed 15 percent earnings growth for 2001.
Dominion (D: news, chart, profile): $11 million, plus forward commodity sales contracts representing exposure of less than 5 percent of earnings.
Exelon (EXC: news, chart, profile): net exposure less than $10 million, but direct gross exposure for current energy sales is less than $20 million.
Sempra Energy (SRE: news, chart, profile): less than $15 million.
El Paso Corp. (EPG: news, chart, profile): $50 million.
Mirant (MIR: news, chart, profile): $50 million to $60 million.
Denbury Resources (DNR: news, chart, profile): about $26 million under hedge contracts. |
