24/7 Wall St. » DWT

High Volume Stock Tankers (GS, MS, DWT, CRDN, ACF, PRXL)

247wallst — Tue, 28 Oct 2008 10:42:22 +0000

We are seeing many high volume price drops in actively traded shares today. In most cases, the earnings are to blame, but there are other issues affecting some stocks as well. Goldman Sachs Group (NYSE: GS), Morgan Stanley (NYSE: MS), Britannia Bulk Holdings Inc. (NYSE: DWT), AmeriCredit (NYSE: ACF), Ceradyne Inc. (NASDAQ: CRDN), and Paraxel International Corp. (NASDAQ: PRXL) are all being hit on strong trading volume. Below are links for a full synopsis on each.

Goldman Sachs Group (NYSE: GS) and Morgan Stanley (NYSE: MS) have beenbeaten and battered. Some of the drop is rumor, and some is tradersattacking what they can after determining their de-leveraged models arelikely to result in much lower income. FULL SYNOPSIS

Britannia Bulk Holdings Inc. (NYSE: DWT) looks like it is dead meat.The company got everything wrong from operations tohedges and gave a dire warning to common stock holders. Keep granny’smoney out. FULL SYNOPSIS

AmeriCredit (NYSE: ACF), Ceradyne Inc. (NASDAQ: CRDN), and ParaxelInternational Corp. (NASDAQ: PRXL) are all down sharply on earnings.FULL SYNOPSIS

Jon C. Ogg
October 28, 2008

Posted in HI/LOW, Trading Alert Tagged: ACF, CRDN, DWT, GS, MS, PRXL

Dismal IPO Debuts: Britannia Bulk & RHI Entertainment (DWT, RHIE)

247wallst — Wed, 18 Jun 2008 12:48:17 +0000

Today’s IPO activity resembles on of two things: 1) summer isn’t a good time to come pblic, or 2) teh IPO just stinks right now. We had two separate IPO’s come to market in highly under-publicized debuts: Britannia Bulk Holdings Inc. (NYSE: DWT) and RHI Entertainment Inc. (NASDAQ: RHIE). Both companies had poor IPO pricings and both companies saw their stocks list lower after opening for trading.

Britannia Bulk Holdings Inc. (NYSE: DWT) priced its 8.333 million share IPO at $15.00, and shares opened down around $14.25 and has traded around there most of the day. Goldman Sachs and Banc of America were the leads on the deal, but the original price range was $17.00 to $19.00 at the filing. Brtitannia is a London-based international drybulk shipping and maritime logistics services provider with a focus on transporting drybulk commodities in and out of the Baltic region.

RHI Entertainment Inc. (NASDAQ: RHIE) priced its 13.5 million share IPO at $14.00 per share, which was also lower than its $16.00 to $18.00 announced price range from lead underwriters JPMorgan and Banc of America. Shares are now down at $13.35 today with some 2.7 million shares having traded. RHI develops, produces and distributes new made-for-TV movies, miniseries and other television programming worldwide, and is the leading provider of new long-form television content in the U.S.

This may have been the most quiet day this year for a day we had two IPO’s come to market. It’s also a harbinger of what to expect for this summer.

You can join our open email distribution list to hear about other IPO’s, secondary offerings, private financings, mergers and acquisitions, restructurings, and more special situations.

If you think that the post-IPO market is totally dead, we actually found several IPO’s that are up more than 50% from their offering earlier in the year.

Jon C. Ogg
June 18, 2008

IPO FILING: Britannia Bulk Holdings (DWT)

247wallst — Thu, 05 Jun 2008 07:25:22 +0000

Britannia Bulk Holdings Inc. filed to come public via IPO last night, although the range has already been set for the British shipping company. It plans to sell 8,333,333 shares in a price range of $17.00 to $19.00 per share. It has also proposed to take the ticker "DWT" on the New York Stock Exchange.

Underwriters are listed as Goldman Sachs, Banc of America, Dahlman Rose & Co., and Oppenheimer. The underwriting has also been given an over-allotment option of up to 1.25 million shares.

The company is an international drybulk shipping and maritime logistics company in transporting drybulk commodities in and out of the Baltic region. Its current owned fleet consists of 22 vessels, which includes 13 drybulk vessels, five of which are ice-class, five ocean-going ice-class barges, and four ice-class tugs. The company has also contracted to purchase an additional six Panamax ice-class drybulk vessels, which are scheduled to be delivered between June 2009 and September 2010.

You can join our open email distribution list to hear about other IPO’s, secondary offerings, mergers, special financings, restructurings, and other special situations.

Jon C. Ogg
June 5, 2008