ENRON (ticker ENE)
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Achtet mal auf diese solide Firma, die laut CEO im naechsten Jahr
20% die EPS verbessern wird und dies auch gestern im interview
nochmals bestaetigte. Der Darling der Wallstreet ist "too low" und
bietet momentan eine gute buying opportunity.
Schaut sie euch mal an
Enron ist immer noch eine solide Firma, auch wenn die erstmalig
einen "quarter loss" bekanntgaben.
Long Term ein BUY.
100 shares $32,90
100 shares $24.50
300 shares $15.80
Schnitt bei $20.96 plus Gebuehren.
billig kaufen teuer verkaufen - eigentlich einfach.
Man muss wirklich mehrere Millionen zum Nachschiessen haben, wenn man Deinen Tips folgt, hmmmm, um evl. heil wieder rauszukommen.
Zum Glück bin ich diesmal nicht dabei.
L.M.
The new credit line is intended to bolster Enron's (ENE) financial condition and head off a potentially devastating loss of investor and business confidence. The new credit would supplement existing lines, which are largely tapped out after Enron last week drew down about $3 billion to increase cash reserves and calm fears in the stock, bond and energy markets.
An Enron spokesman confirmed the company is negotiating a new credit line, but said he couldn't supply any further details. Houston-based Enron is the nation's biggest energy trader and a principal in nearly one-quarter of all electricity and natural-gas trades. Once a favorite of Wall Street, the company now is in the unfamiliar position of convincing a deeply concerned investment community that, despite difficulties, its finances remain sound.
Confidence in Enron's situation was shaken after Enron earlier this month announced a $618 million third-quarter loss and disclosed a $1.2 billion erosion of shareholder equity related to controversial transactions it had done with entities connected to its then-chief financial officer, Andrew Fastow.
Last week, Enron replaced Mr. Fastow and said that the Securities and Exchange Commission was looking into the transactions. The company has consistently said that the transactions were proper and legal.
Enron's stock price fell again Friday. As of 4 p.m. EDT Friday on the New York Stock Exchange, Enron was down 95 cents at $15.40. Enron has fallen 50% in the past two weeks and is down 83% from a Sept. 18, 2000, high of $89.63.
Late last week, Enron tapped its existing credit lines, with part of that money being used to redeem nearly $2 billion of its outstanding commercial paper, or short-term corporate IOUs. Ron Barone of credit-rating agency Standard & Poor's said he believes Enron was "getting a bit more resistance" recently in rolling over its commercial paper as it came due. Thus, Enron probably decided it would be easier simply to redeem the paper outstanding, he said.
The Enron spokesman Sunday said that paying off the commercial paper and still leaving the company with an additional roughly $1 billion cash on hand would give it more financial flexibility.
Also last week, credit-rating agencies warned investors they were reviewing Enron's debt and commercial-paper ratings for a possible downgrade. A lower rating could hamper Enron's core trading businesses.
Behind the worries among these agencies, in part, is the loss of investor confidence, which one of the rating companies, Fitch, said in a report last week could impair "Enron's financial flexibility and access to capital markets, therefore impacting its ability to conduct its business."
The Enron spokesman said the company's trading partners are doing business with Enron on "essentially the same terms" as they have in the past. "There has been no significant change in the credit conditions," he said.
Trading partners demanding significantly stricter terms from Enron would be a sign of further deteriorating confidence in the energy giant's finances. The banks involved in the negotiations, including J.P. Morgan Chase & Co. (JPM) and Citigroup Inc. (C), are asking Enron for stricter covenants on the new credit line than they had asked for in the past, one official said.
Bankers involved with the company say the goal of the new credit line is to show the investment community that Enron can meet its commitments. "Confidence in this company was lost," said one bank official involved in the negotiations for a new credit line. "But confidence will be restored."
Corporations of Enron's size commonly establish credit lines only to demonstrate to the investment community that in case of an emergency, they have access to cash. In practice, few companies actually make use of these lines. Thus, drawing down credit lines, while providing immediate cash, also illustrates the pressure Enron is feeling.
© Godmode-Trader.de
Enron`s Aktie hatte in den letzten Tagen und Wochen einen regelrechten Ausverkauf hinnehmen müssen. Die Aktie notiert momentan nahezu 90% unter ihrem Jahreshoch und befindet sich ca. auf dem Niveau von 1992. Details, Hintergründe und evtl. Chancen lesen sie hier nach: **www.Research-Channel.de**
Enron ist eines der weltweit führenden Elektrizitäts-, Erdgas- und Kommunikationsunternehmen. Es produziert und handelt Elektrizität und Erdgas, entwickelt, konstruiert und betreibt Energienanlagen. Darüber hinaus bietet das Unternehmen Kunden weltweit Energielösungen in den Bereichen Großhandel, Risikomanagement und Finanzdienstleistungen. Enron betreut über 16.500 Standorte mit einem Vertragsvolumen von über $13,5 Milliarden.
© Godmode-Trader.de
SmartMoney.com - Common Sense
Time to Buy -- Already?
By James B. Stewart
ONE CONSEQUENCE of the terrorist attacks of Sept. 11 is that the market has been extremely volatile, rising on news of rate cuts and good earnings, and plunging on the latest anthrax scare, terror warning or weak economic report. After hitting my selling target of 1775 Thursday, representing a 25% gain from its September low, the Nasdaq dropped 69 points on Monday, or 4%, and another 34 points on Tuesday, which means it's time to start thinking about buying again even before you've gotten the brokerage statements on last week's sales.
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Like most people, I don't especially like volatility. I'm accustomed to hitting buying and selling targets only two or three times a year at most; this year they've come nearly every month, and sometimes more often. I don't want to stay glued to my portfolio. Indeed, my system is designed for people like me who have other careers and aren't investment professionals. Last Thursday, for example, I was attending a board meeting in the Midwest during the approximately 24 hours the Nasdaq stayed above my selling target.
To put this in perspective, the historical median Nasdaq advance, which I define as any sustained gain of 25% or more, has lasted nearly a year. The median bear market, a decline of 20% or more, has lasted 7 1/2 months. Yet so far in 2001 we've already experienced two advances and two bear markets, with a third possibly in the offing. The last advance, which appears to have ended Thursday, held on barely six weeks. In no other period have we experienced two bear markets in such close proximity; the closest comparison is January 1997 to October 1998, a nearly two-year period in which there were four advances, three corrections and one bear market.
But I don't mean to complain. This is the world we now live in, and we might as well adapt to it. The fact is that some investors live for volatility, because that's how they make their money. Just look at options prices over the past few weeks and you'll see the opportunities for huge gains if your timing is adroit. I don't advocate speculating in options or trying to capitalize on volatility for its own sake, but I have been pleased that so far this year, my disciplined system of selling into rallies and buying on declines has served me extremely well.
So after two weeks of talking about selling in this column, it's time to look again at the buy side of the equation. The new buying target is 1600 (roughly 10% below last week's interim high). Fortunately, I don't think you have to look far for excellent candidates. I detect two themes emerging in recent investor choices: value, now back in favor after years of exile; and market leadership, meaning companies with dominant market share likely not only to survive a recession, but to be in a stronger position when the economy recovers. (This was the subject of last week's Ahead of the Curve column on this site.) Neither trend is brand new, but they have intensified since Sept. 11, and these investing preferences tend to persist, often for years.
General Electric (NYSE:GE - news), previously recommended in this column, embodies these trends. So, to varying degrees, do a number of major companies that coincidentally reported strong earnings during the past few weeks: Microsoft (NASDAQ:MSFT - news), IBM (NYSE:IBM - news), Intel (NASDAQ:INTC - news), Citigroup (NYSE:C - news) and Tyco International (NYSE:TYC - news). Yet their stocks have since declined in the recent sell-off.
In deciding what sectors to buy, I tend to reverse the process I use in deciding what to sell, concentrating on the weak sectors rather than the strong. At the moment, however, the market has experienced such a broad-based drop that there are very few strong sectors. The only areas I would avoid at the moment are restaurants, grocery chains and consumer products, which are among the top-performing sectors. With interest rates so low, I especially like the financial sector, including insurance (American International Group (NYSE:AIG - news)) and banks (Citigroup). At times like these, it isn't necessary to bottom-fish in the worst performing sectors, which are telecommunications equipment and Internet services. Still, there are numerous bargains there among the dominant companies that do meet the tests of value and market leadership, and I believe patient investors will be disproportionately rewarded. Among companies I've previously recommended, I'm eyeing Verizon Communications (NYSE:VZ - news), WorldCom (NASDAQ:WCOM - news), Qwest Communications (NYSE:Q - news) in telecommunications; Cisco Systems (NASDAQ:CSCO - news) in networking; Sun Microsystems (NASDAQ:SUNW - news) in servers; and for the truly adventurous, EMC (NYSE:EMC - news) in data storage, and Ciena (NASDAQ:CIEN - news) and JDS Uniphase (NASDAQ:JDSU - news) in telecommunications equipment.
I'd love to be able to recommend Enron (NYSE:ENE - news), the much-battered energy-trading and pipeline concern that was once a New Economy darling. As of this week, the stock was trading at just over $11 a share, a stunning drop from its yearly high of nearly $85. Battered by accounting charges related to complicated partnership arrangements, a Securities and Exchange Commission investigation into alleged conflicts of interest and possible fraud, and the sudden resignation of its chief financial officer, Enron has the makings of a potential turnaround that could reward risk-tolerant investors. After all, Enron hasn't been found guilty of anything and still has a promising business model. The situation reminds me a little of the allegations against Tyco that caused the stock price to plunge but turned out to be unwarranted. Is Enron, like Tyco then, a buy?
In my judgment, no. Tyco's top management was a model of full and candid disclosure, reassuring investors it had nothing to hide. By contrast, Enron has repeatedly obfuscated. When its president resigned months ago, it said only that the reasons were vaguely personal. It has refused so far to spell out details of the partnership arrangements. It ducked questions in last week's conference call. When an employee raised critical questions about the partnerships, he was banished from the executive suite. Enron management, in my view, has shown that it can't be trusted. I am sad to reach such a conclusion, since so much of the damage to Enron seems to be self-inflicted.
SmartMoney Map of the Market - See the Market Like Never Before
Gruss
baanbruch
und US-Vize Dick Cheney. Vielleicht auch ein Grund, warum der grösste amerikanische Energiehändler (Gas und Strom)
nicht vor die Hunde gehen wird (zumal ja Bin Laden an allem
jetzt schuld ist).
Vielleicht ist der richtige Einstiegspunkt, wenn der neue CFO alle Leichen aus dem Keller bringt und vernichtende
Quartalszahlen vorlegt ...
Timchen
Enron wird auf keinen Fall Pleite gehen, entweder gestützt oder Übernahme.
mfg
füxlein
Dafür sehe ich keinen Grund.
Der langfristige Abwärtstrend ist ja nicht zu übersehen.
Ende Oktober hat es ein Fehlkaufsignal gegeben. Bei 24 Dollar spätestens hätte man sich ausstoppen lassen müssen. Warum man das nicht macht: Man kann einfach nicht glauben, was da passiert. Ich kenne das. Ich würde verkaufen, nicht mehr hingucken und mich auf etwas neues konzentrieren, diese Aktie im Depot frustriert nur. Aber solche Aktionen nicht wiederholen.