Posts for Ticker ‘FDML’

Are CBS (CBS) And Sprint (S) At Risk For Bankruptcy?

bearAudit Integrity, a research firm, has come out with a list of the large American companies which are most likely to go bankrupt in the next year. The data behind the figures seem valid, but some of the companies on the list which include CBS (CBS), Sprint (S), AMD (AMD), and Sirius XM (SIRi) seem improbable candidates.

The corporate communications staffs of these companies and their outside public relation firms will tell their managements to keep quiet and not react. A reaction, they will argue, just makes it look like Audit Integrity knows what it is doing and that there is some validity to their analysis. Audit Integrity is probably counting on that. It will get a lot of exposure for the study and little ,if any, legitimate criticism.

Audit Integrity says its research services support risk management practices that help investors, insurers and others lower risk and improve performance with objective ratings and reports.

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Posted on: September 18, 2009 – 2:34 pm in Research, , , , , , , , , , , , , , , , , ,

Carl Icahn Weighed Down By Investments (IEP, BIIB, MOT, YHOO, FDML)

Icahn_logo_2Icahn Enterprises LP (NYSE: IEP) is perhaps known more for its billionaire owner/founder Carl Icahn more than it is for its staff, team efforts, and even the enterprise’s name.  Icahn’s investment vehicle posted a loss for Q2-2008 as investment losses mounted.  The company lost $98.8 million versus a profit of $64.2 million year over year from Q2-2007.

So far, Icahn’s investments in Biogen-Idec (NASDAQ: BIIB), Motorola (NYSE: MOT), and Yahoo! (NASDAQ: YHOO) are only partly offset by the recent gains (unrealized) in ImClone Systems (NASDAQ: IMCL).  Being an activist investor made Carl Icahn a billionaire. That hasn’t made him immune to making wrong investment activist target picks.

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Posted on: August 12, 2008 – 9:47 am in Activist Investor, , , , ,

Post-Bankruptcy, Federal Mogul Heads For NASDAQ (FEMO, FDML)

Federal-Mogul Corporation (OTCBB: FEMO) has recently exited from bankruptcy, and has traded OTC on the Bulletin Board since.  Today, the company has announced that it will leave the OTC market and head over to the NASDAQ Global Market on April 23, 2008.  Its new proposed stock ticker symbol will be "FDML."

Federal-Mogul also recently announced that it will report its first quarter 2008 results on April 22, 2008.

Since emerging from bankruptcy, this has traded in a range from 418.00 to $27.00, and shares closed yesterday at $19.40.  Because of acquisitions made, this company ended up with something to the tune of more than 350,000 asbestos claims.  As a reminder, Carl Icahn owns (as of last look) most of the post-bankruptcy company because of his funding that helped pay asbestos claims.

The company manufactures and distributes parts, components, and systems in the automotive, small engine, heavy-duty, marine, railroad, aerospace, and industrial markets.

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Jon C. Ogg
April 10, 2008

Jon Ogg produces the Special Situation Investing Newsletter.  He can be reached at jonogg@247wallst.com and he does not own securities in the companies he covers.

Posted on: April 10, 2008 – 9:28 am in Turnarounds, ,