I am regretting not having jumped on Netflix much in the way Scott did in the early game earlier this week, but Scott is regretting his amazon pick now. As he sinks to 4th and I rise to 8th! Wooooo. (I'm only 20,000 behind him :-p) Plus we are all making mad money expect for 4 people (and the people who haven't ever made a trade).
It's alright. I was on Hasbro because their earnings came up, and it was yet another win. Then a bunch of people pulled up because Apple came on in. I didn't think it would climb that much. Never doubt Steve Jobs' reality distortion field. Amazon was coming up next, and their profits beat estimates, but their projections for next quarter were down. It's fine. I'll just keep on keeping on. Another Netflix or two, and I'll be set.
I was actually considering doing Chipotle instead of Amazon. I should have. I balked because Chipotle was so expensive, but it went up a ton. Can't be right every time.
I was actually considering doing Chipotle instead of Amazon. I should have. I balked because Chipotle was so expensive, but it went up a ton. Can't be right every time.
I definitely have the same bias. I looked at Chipotle two days ago and was like "Chipotle is worth that much a share, maybe it's at it's peak" I gotta break that mindset but it's pulls at my deal hunter aspect.
I thought this was a interesting lesson in the stock market, so CRL announced it bought WuXi. CRL then promptly falls 6 points royally screwing up my day... So here is some financial babble that explains.....
Financial Terms of the Transaction Under the terms of the agreement, which was unanimously approved by the boards of directors of both companies, the total consideration to be paid will be $21.25 per WuXi American Depositary Share (ADS), subject to the collar described below. Each WuXi ADS will be exchanged for $11.25 in cash and $10.00 of Charles River common stock determined by an exchange ratio. This exchange ratio will be determined by dividing $10.00 by the weighted average Charles River common stock closing price as reported on the New York Stock Exchange (NYSE) for the 20-day trading period ending on the second business day prior to closing (Charles River Average Price). However, if the Charles River Average Price is equal to or greater than $43.1726, then the exchange ratio will be fixed at 0.2316, and if the Charles River Average Price is equal to or less than $37.1486, then the exchange ratio will be fixed at 0.2692. Please note, each WuXi ADS trading on the NYSE represents eight (8) WuXi ordinary shares. Based on WuXi’s closing stock price of $16.57 on April 23, 2010, the transaction represents a premium to WuXi shareholders of 28%. Based on the 30-day average closing price of $15.45, the premium is 38%. The exchange of WuXi shares for cash and Charles River shares is expected to be taxable to WuXi’s shareholders under U.S. tax law. Charles River stock will continue to be listed on the NYSE under the symbol CRL. Financing Charles River intends to finance the cash portion of the transaction through balance sheet cash on hand and one or more sources of new debt financing. Charles River has received a financing commitment for a $1.25 billion credit facility from J.P. Morgan Chase and Bank of America Merrill Lynch.
So since the amount CRL has to pay relies on the cost of the CRL shares it appears they decided to suppress the value of the stock till after the sale is complete..................... sucks for me for now.
They sold to HP after market close. Shares shot up to almost $6 in after-market and are hovering. If you already own them, you're set. Otherwise, nothing doing.
Oh, fuck everyone is getting hammered. Look at Timo go down 12%. I should have sold after I made the Amazon mistake, and held. Would be in 1st right now.
Stock Market be crazy! I'm pretty sure people just want to lose money this week. All signs point to good things domestically. (Timo is down 16% at time of posting) oh and I'm in last.. ugh
Comments
I was actually considering doing Chipotle instead of Amazon. I should have. I balked because Chipotle was so expensive, but it went up a ton. Can't be right every time.
Financial Terms of the Transaction
Under the terms of the agreement, which was unanimously approved by the boards of directors of both companies, the total consideration to be paid will be $21.25 per WuXi American Depositary Share (ADS), subject to the collar described below. Each WuXi ADS will be exchanged for $11.25 in cash and $10.00 of Charles River common stock determined by an exchange ratio. This exchange ratio will be determined by dividing $10.00 by the weighted average Charles River common stock closing price as reported on the New York Stock Exchange (NYSE) for the 20-day trading period ending on the second business day prior to closing (Charles River Average Price). However, if the Charles River Average Price is equal to or greater than $43.1726, then the exchange ratio will be fixed at 0.2316, and if the Charles River Average Price is equal to or less than $37.1486, then the exchange ratio will be fixed at 0.2692. Please note, each WuXi ADS trading on the NYSE represents eight (8) WuXi ordinary shares. Based on WuXi’s closing stock price of $16.57 on April 23, 2010, the transaction represents a premium to WuXi shareholders of 28%. Based on the 30-day average closing price of $15.45, the premium is 38%. The exchange of WuXi shares for cash and Charles River shares is expected to be taxable to WuXi’s shareholders under U.S. tax law. Charles River stock will continue to be listed on the NYSE under the symbol CRL.
Financing
Charles River intends to finance the cash portion of the transaction through balance sheet cash on hand and one or more sources of new debt financing. Charles River has received a financing commitment for a $1.25 billion credit facility from J.P. Morgan Chase and Bank of America Merrill Lynch.
So since the amount CRL has to pay relies on the cost of the CRL shares it appears they decided to suppress the value of the stock till after the sale is complete..................... sucks for me for now.
They sold to HP after market close. Shares shot up to almost $6 in after-market and are hovering. If you already own them, you're set. Otherwise, nothing doing.
I'm down 22% since the 25th of April under 2 weeks ago.
Everyone into the bunkers.
It's a race to the bottom in our game ^_^