Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: waverider who wrote (26605)	7/27/1998 6:57:00 PM
From: Mike from La.	Read Replies (1) \| Respond to of 95453

First Call also had FGII at .28. Has them at .42 next quarter.

To: waverider who wrote (26605)	7/27/1998 9:12:00 PM
From: pt	Read Replies (3) \| Respond to of 95453

I predicted this sort of problem the other day on the FGII thread. See exchange2000.com And Briefing couldn't resist doing the dirty deed, composing their "short story" to read: "Friede Goldman International (FGII) 23 7/8 +3/8. Oil drilling services company reports second quarter earnings per share of $0.31, 3 cents ahead of First Call consensus, but down from yar [sic] ago $0.46 per share profits." At least Business Wire services didn't blow the headline on this one. Paul

To: waverider who wrote (26605)	7/27/1998 9:31:00 PM
From: P.Prazeres	Read Replies (2) \| Respond to of 95453

Diamond, <<Can that happen????? No, not in this market!>> Look, for example, at RIG. This morning it comes out with 0.69, 0.03 ahead of estimates. These estimate, haven't really been reduced very much. As a matter of fact, it was only 0.01 cent below the absolute highest estimate. The company also said that 1998 was 99% booked at higher dayrates. 1999 is 75% booked at higher dayrates. Two of the new rigs will be going to work before the year is out (actually, I think one will be ready in a few weeks). YET, it only goes up 3/8 and actually was trading down for a part of the day. whatever! Paulo

To: waverider who wrote (26605)	7/28/1998 7:47:00 AM
From: marc chatman	Respond to of 95453

Of course there will be some selling in FGII today. As with several of the other plays in the sector, some traders have probably accumulated FGII as an earnings play. If FGII goes up, they take profits. If not, they cut and run. Where will FGII end up today? Who the hell knows? A few people seem to feel yesterday was a positive for the sector. I still don't see it. The DJIA was up big. The NASDAQ made a huge recovery. Yet the OSX saw almost no rebound after tanking 10% in the previous 2 days. I wouldn't even call yesterday a deadcat bounce. The only things interesting about yesterday are, first, that we did not see the liquidation-type drops which we saw last week, and second, that some of the trading was on the long side. Obviously many traders didn't have the courage (or the death wish) to hold overnight, which is why we saw a last minute pullback. One final point. You've got to love that Cramer. He actually gets paid for something which looks as though it was written during a taxi ride downtown. OK, he may be right that the sector won't recover for a year (heck, it may be 3 years). And he is almost certainly correct that there will be tax loss selling (probably has been already). But Cosmo -- really -- predicting that a recovery next summer will be fostered by a favorable environment for earnings comparisons?!! Have you been reading the same earnings reports as I have? Most of the stocks I follow have just reported record earnings. And yes, I must complement you on your call that the death spiral last week was due to fund liquidation. But didn't CNBC report that at least twice last week?