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.

Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: Bucky Katt who wrote (2743)	2/3/1999 6:24:00 PM
From: Rande Is	Respond to of 57584

You got that right, William. Only reasons I liked SIEB 5 months ago was because of the 600k float and the ad campaign on CNBC. It was an open gas can in a Tennessee honky-tonk. But JBOH, SIEB and MHMY look like the 3 prime targets for organized short gangsters [which I have a problem with] and independent short-sellers [which I have NO problem with]. I would not go long on either 3 tomorrow or any time this week. Rande Is

To: Bucky Katt who wrote (2743)	2/3/1999 6:48:00 PM
From: Rande Is	Read Replies (2) \| Respond to of 57584

Now for a sleeper that is on the boring side. . . [NYSE: WHX] WHX Coporation at first glance appears to be a steel mill in West Virginia. But a closer look reveals that this is a well diversified company with holdings from manufacturing to entertainment. They bought Handy and Harmon, the precious metals company, last year and from the looks of their earnings just out, they are digesting this company with no problem. "H&H had sales of $350.3 million, income from operations of $25.7 million and net income of $4.8 million for the 82-month period ended December 31, 1998." A few highlights from their announcement: WHX Corporation (NYSE: WHX) -- WHX today reported net income of $41.7 million, on sales of $1.6 billion, for the year ended December 31, 1998, compared with a net loss of $199.8 million, on sales of $642.1 million, for the year ended December 31, 1997. After deducting preferred stock dividends, basic net income per share was $1.16 for 1998 compared with a $10.01 net loss per common share for 1997. Net income per diluted share was $1.11 for 1998 compared with a $10.01 net loss per diluted share for 1997. Now in 1997, Wheeling Steel [the original company], had a strike that cost the company mucho dinero. That is reflected in the 97 comparison of financials. But as I recall, the stock fell but only to about 5 dollars a share at the lowest point. Typically, it sits in the mid-teens. And right now it is sitting ON its 52-week low of 9.25/share for common [preferred pays a dividend ]. Now, before you open your web browser to your broker. . . check this out. Short shares = 4,888,000 shares. Short Ratio is 88 percent. I don't even know how that can be. I have never seen it that high before and would like to hear some takes on what this could mean in the near future. 72.4 percent of outstanding is held by institutions. Understand that data is pre-todays earnings announcement. All financial data should be updated to internet websites soon. Now the total outstanding is 17.8 mil and the float is 7.1 mil as of this writing. But check this out. The company announced today: During the fourth quarter of 1998, the Company repurchased 264,400 shares of its Common Stock for $2.5 million in the open market. For 1998 the Company repurchased 1.8 million shares of Common Stock for $20.2 million in the open market. During 1998 the Company also purchased and retired $48 million aggregate principal amount of 102% Senior Notes in the open market. They keep buying profitable companies and S and P downgrades their rating. Then, the rating gets upgraded and the company buys up another profitable company. They just keep raising or extending their tender offer until shareholders vote yes. Now I have no story for this stock other than what has been written here and in the earnings reports and news. There obviously is no website getting ready to sell I beams over the net. But we need to keep an eye on them, in case Wall Street is coming to the same conclusions here. Rande Is