Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Looks like yesterdays gamble will not pay off down 5% at open. $14.7
This the news from yesterday that drew the huge spike.
THE DAILY MAIL
ALEX BRUMMER: JP Morgan boss Jamie Dimon plays a blinder mobilising £20bn to save First Republic Bank
21 March 2023
There is nothing like a banking crisis to test the mettle of leaders. It took a meltdown on America’s Pacific coast to galvanise the Swiss financial establishment, led by finance minister Karin Keller-Sutter, to rescue Credit Suisse.
It has been evident ever since the bank reported 2022 outflows of £87billion from asset management in February that it was doomed.
A merger with UBS has been on the cards ever since the blunders at Credit Suisse started to pile up when the Greensill and Archegos debacles surfaced in 2021.
Grown up in the room: Jamie Dimon (pictured) has been chief exec at JP Morgan Chase since 2005. That is longevity unknown in the City of London. +1
Grown up in the room: Jamie Dimon (pictured) has been chief exec at JP Morgan Chase since 2005. That is longevity unknown in the City of London.
It was a solution advocated by discredited former chief executive Tidjane Thiam who might have done a much better deal for share and bond holders.
Instead, there has been a botched transaction which wiped out the holders of cocos (bonds that should convert to equity) while shareholders did receive deeply discounted UBS equity.
Swiss authorities drove a coach and horses through banking rules, agreed in their own backyard at Basel, and may have suffered irreparable reputational damage.
Greater UBS may struggle against Wall Street wealth management ambitions in Europe. It is not that clear that American authorities have covered themselves in glory.
The efforts to deal with the fallout from the Silicon Valley Bank and Signature have been far from clean. Treasury Secretary Janet Yellen’s solution reaches back to 2008. Her answer is to make all depositors safe to counter bank runs.
That is hardly the hard-nosed approach on the table after the great financial crisis, and exposes the system to moral hazard.
This allows bankers to take the most risky and stupid bets. And for their part, depositors can invest in securities that are ‘too good to be true’, without risk.
Amid the detritus of recent events, there appears to have been only one grown-up in the room. Jamie Dimon, who has been chief executive at JP Morgan Chase since 2005.
That is longevity unknown in the City of London .
Wednesdays news at 6.30am .
Premarket trading 71/2 hours before USA open.
First Republic Bank FRC +29.47% (FRC) rose 4.6% in premarket trading after surging more than 29% on Tuesday. The stock fell in after-hours trading Tuesday following a report from The Wall Street Journal that said the regional lender this week had hired Lazard to help with a review of strategic options that could include a sale, and tapped consultant McKinsey to assist with the bank’s post-crisis structure.
This bank share was $115 8th March 2023 ( two weeks ago ) the 5 year high last 15th November $221.
The all time low was yesterday was $12.18.
I have paid 29% above the low & 19% below today's high .
Took a gamble here today after rummer printed of JP Morgan backing it .
On a $15.7 limit which executed as going out at 7pm . they had spiked all the way up to $19.4 at 5.15pm .
I see they did bounce back to $16.89 by 7.30pm and closing $15.77 falling back on below rummer .
Shares of First Republic Bank dropped about 15% in the extended session Tuesday after news that the troubled bank reportedly has hired advisers to review its options and manage the crisis.
First Republic FRC, +29.47% stock rallied 30% in the regular trading day Tuesday, buoyed by reports that JPMorgan Chase & Co. JPM, +2.68% was working to help bolster the bank’s capital.
The Wall Street Journal reported late Tuesday that First Republic had tapped Lazard to help it review its options, and consultant McKinsey for post-crisis planning, citing people familiar with the matter. Options on the table include a sale, a capital infusion and asset sales, the sources said, according to the Journal.
The bank issued “a message to our clients” late Tuesday, as its stock was falling in after-hours trading, that noted recent “unprecedented events,” and promised an update.
“Our commitment to client service is unchanged, and we remain well-positioned to continue to manage deposit activity,” the statement reads. “Today, as every day, we are processing transactions, opening accounts, funding loans, answering questions, and serving clients’ overall banking and wealth management needs.”
First Republic stock has swung wildly in recent days, ending Monday’s session at a record low, and several trade halts plagued it during the day.
San Francisco-based First Republic last week got $30 billion in deposits from 11 major U.S. banks, but the stock promptly resumed its slide as it suspended its dividend to preserve cash.
That followed the collapse of Silicon Valley Bank and Signature Bank earlier this month and contagion fears that have rocked bank stocks.
Two news reports today this from yahoo
Why Coinbase Stock Surged 8.5% Today
By Chris MacDonald – Mar 21, 2023
The financial fallout from various banks may turn out to be a positive development for Coinbase.
After averting disaster with the USDC stablecoin, Coinbase appears to be the way investors want to play a momentum rally in crypto.
The company's expansion into Brazil and its consolidation of lawsuits are other factors driving this stock higher today.
The cryptocurrency market is once again moving higher today, supporting some positive price action among a number of crypto-adjacent companies. For Coinbase (COIN 10.91%), a company that derives the vast majority of its revenue and income from transaction fees, higher token prices generally translates into greater trading volume.
That said, there are a number of other catalysts driving this impressive move in Coinbase stock today.
Notably, the fallout from key crypto-related banks appears to have little effect on Coinbase and could potentially improve this centralized crypto exchange's status as one of the last remaining options for conventional investors to access the crypto markets. Coinbase has shut down its support for Signet and reportedly supported Circle's USDC stablecoin via a significant $3 billion offer to backstop the token. Ultimately, USDC regained its peg, and Coinbase's interest-generating model tied to this token remains intact.
Additionally, there's some interesting news circulating today around the company's expansion into the Brazilian market. Coinbase had already hired 40 employees in Brazil, and its platform is fully available in Portuguese. However, until now, payments could only be made on the platform via credit card -- Coinbase has since opened up payments, allowing local purchases to be made in Brazilian reals via a partnership with Ebanx.
Finally, there's growing optimism around Coinbase's two ongoing class action lawsuits. The company has sought to push these lawsuits into binding arbitration, a move that many experts think will be approved .
So much for Analysts views and the charges and fees these types make ?
$84 today 53% above the slice of two days before two months ago .
13% above the $74.59 Analyst post on the 7th February below .
Analysts yesterday it states expect the price to decrease by 5% from $75.14 to $71.46 ( must of been an upgrade as not as far out as last time )
Will Arrival stock recover? from last price of 0.21 ( must be recent )
Stock Price Forecast
The 1 analysts offering 12-month price forecasts for Arrival SA have a median target of 5.71.
represents a +2,621.18% increase from the last price of 0.21
last part .
Going Concern
At the end of December, the Company had $205 million of cash on hand. Subsequent to the end of December, the company announced a transaction with its largest bond holder Antara, that includes up to $50 million of additional capital commitments and today announced a $300 million equity financing line with Westwood Capital.
In January, the company announced additional plans to restructure its business, which included a reduction in its workforce to less than 800 people and other cost control measures that the company expects to result in quarterly cash burn of no more than $35 million.
Also in January, the Company’s board approved a new business plan based on the quarterly cash burn targets and a product focused on the US Market to start production in Charlotte in 2024.
Although as of December 31, 2022 the Company did not have sufficient cash to fund the business plan or its operation for a period of 12 months, with the actions taken to reduce costs and the capital commitments subsequent to year end, the Company believes it can operate the business into 2024 while it seeks to raise capital to complete the vehicle program for the U.S. and make the necessary capital investments to start production in late 2024, including prototyping, tooling, factory capex and working capital. Despite mitigating factors taken to date, there remain material uncertainties about the Company’s ability to continue as a going concern primarily due to the fact that further capital raises are required to fund the company to a break even point.
The Company is exploring all funding and strategic opportunities to obtain the capital necessary to fund the vehicle program and bring the company to cash flow break-even.
Therefore, notwithstanding the material uncertainties noted, the Board determined that the Company's unaudited financial information is appropriately prepared on a going concern basis and does not currently see any adjustments that would result in the basis of preparation being inappropriate.
Building 10 Vans in the Bicester microfactory to further develop the highly automated factory processes and integrate them with the company’s autonomous mobile robots. These vans will also be used to accumulate 250,000 kms of public road mileage to validate Arrival’s engineering designs and components by the end of 2023.
Continued development of the XL Van designed specifically for the U.S. market. This product attracts higher average selling prices, margins and tax credits than the L Van, and will require a dedicated capital raise to fund production in the Charlotte factory. Start of production in Charlotte is targeted for late 2024.
Igor Torgov, previously an Arrival executive, has been appointed as CEO to lead the execution of the newly approved plan, with his intimate knowledge of Arrival’s business priorities, technologies and talent.
Equity Financing Line
The Company has established a $300 million equity financing line with Westwood Capital, providing the Company with access to additional liquidity, subject to certain conditions. For further information regarding the equity financing line, please see the Company’s report on Form 6-K filed with the U.S. Securities and Exchange Commission via its EDGAR system today, March 13, 2023. The report is available on the SEC’s website at www.sec.gov. The information contained in this website is not incorporated by reference in, or in any way a part of, this press release.
Outlook
The XL Delivery Van funding activities are specific to driving the start of production in Charlotte next year. There is no planned Capex spend related to this program until dedicated capital is raised.
Arrival will achieve its target quarterly $35 million burn rate by the second half of 2023.
With available capital resources and additional initiatives to reduce working capital, the Company expects to have sufficient liquidity to fund the business into late 2023 without the investments required for XL production.
Reverse Stock Split and Capital Reduction
Arrival today announced the calling of an Extraordinary General Meeting (“EGM”) of Shareholders to vote on a proposed reverse stock split at a consolidation ratio within a range from 30:1 to 50:1 to position the Company to regain compliance with the minimum bid requirement under the Nasdaq listing rules by its ordinary shares trading above $1 for 10 consecutive business days prior to May 1, 2023. At the EGM, Shareholders will also be asked to vote on a proposed capital reduction to $156,532.22, without cancellation of shares or payments to shareholders, thereby setting the par value of the Company’s ordinary shares at around $0.0002 per ordinary share prior to the implementation of the reverse stock split. The EGM is planned for April 6, 2023 and Shareholders holding shares of the Company as of March 28, 2023 will be invited to vote on the resolutions.
Mistake to buy at $1.33 on 26th August 2022 & again 26th August at 1.17
By 28th December 2022 they had slowly fell to a low of $0.15.
Then by 17th January 2023 the share had come back to $0.63.
Mon, 13 March 2023.
Today on this news back to $0.178 -13.48%
ARRIVAL Announces $300M Equity Financing Line and Provides 2023 Outlook.
$300M Equity Financing Line with Westwood Capital Provides Additional Liquidity
Extraordinary General Meeting of Shareholders to Approve Reverse Stock Split
LUXEMBOURG, March 13, 2023 (GLOBE NEWSWIRE) -- Arrival (NASDAQ: ARVL; the “Company”) is today announcing a $300 million equity financing line established with Westwood Capital. At the same time, the Company is also announcing the convening of an Extraordinary General Meeting of shareholders to vote on a number of resolutions, including a reverse stock split and capital reduction. Additional details of these announcements will be provided on the Company’s Business Update Webcast scheduled today, March 13, 2023 at 4:30 P.M. Eastern Time.
“I have come into the business as CEO at a critical time. Arrival has developed innovative technologies and know-how which position us strongly to address the considerable EV market opportunity. We have now taken important steps to help us take advantage of this opportunity, including raising additional capital as well as placing a sharper focus on the key U.S. market and driving significant efficiency improvements.
Looking forward, we will continue developing and validating our vehicles this year. We are also progressing with encouraging conversations with potential partners and investors to effect the next stage of the business plan - bringing Vans into production in Charlotte in late 2024,” commented Igor Torgov, CEO.
Business Updates
Over the last few months the Company has taken decisive steps to significantly reduce its headcount and cash burn. At the same time, it has sharpened its focus on its U.S. product strategy, which will prioritize commencing production of a purpose-built Class 4 XL Delivery Van in the Charlotte factory in late 2024, pending a capital injection this year to fund the program. Recently, the Company was successful in driving organizational efficiencies that will extend the run-rate of existing cash resources into late 2023; it succeeded in arranging up to $350 million of new capital commitments and an agreement to reduce net debt by $121.9 million. Following these actions, the key elements of the business plan are as follows:
Lowering the Company’s current, targeted cash spend to no more than $35 million/quarter which significantly reduces the size of investment required to fund the business this year.
Finalizing a 50% reduction of the Company’s global workforce in Q1 that will result in less than 800 employees by the end of March 2023.
Continued above .
Yahoo 8/3/23.
Simply Wall St
Wed, March 8, 2023
The projected fair value for Gilead Sciences is US *$159 based on 2 Stage Free Cash Flow to Equity
Gilead Sciences is estimated to be 50% undervalued based on current share price of US$80.28
Our fair value estimate is 42% lower than Gilead Sciences' analyst price target of US *$92.13.
Bought another half tranche for $79.5.. fx 1.1921.
Been targeting for weeks lifted 7pm 9/3/23 ( Peter )
Notes copied from ( D)
Small rise today after falling back to $140 level last week. ( on 26/9/22 they fell to year low of $127 )
3/1/23 post September rebound high $161
13/1/21 a GWP sale ( W )
10/6/21 Sold last 7 Jazz (W)186 NONE REMAIN .
(Wi ) NONE REMAIN .
A large ( buy) 6th May 2021 @ $157.52 (D) might be the takeover ( trade time 00.00 )
Bought back the last sale in ( W ) to quickly in June 2021 as $186 was the 5 year high falling all the way back to $ 118.9 by 30th November 2021.
30/11/21 Bought at the $118.9 lows
02/03/ 22 ( 11% day rise ) to $151
8/4/22 They were up to $168
24/6/22 Sold for$153 (£76 PROFIT) to raise funds margin call .
5/7/22 Sold again for *$158 a 3 month high.
01/8/22 buying back for $154 on ( on way down to $150.5 ) five week low.
15/8/22 sold above for $160 ( + 70 )
16/9/22 bought above back for $149
20/9/22 bought again for $139
21/12/22 sold one of above tranches for *$158 ( repeating 5/7/22 sale above .
Bought the last tranche back 2.20pm for *$160.59...FX 1.1903.
On a GTC order of $161 placed on 2nd February 2023,
Today USA tech 100 markets opened 1.5% down by 3.30pm down 2%. ( Beckenham for lunch )
I have paid more in cash terms then the sale on 26th January 2023.
But have got back cheaper then the last all out sale on 1st February which I noted as a mistake posting "Must try and correct ".
Last time I bought them 5th December 2022 the exchange rate was more favorable at $1.2178 .
Thank God the extra orders to buy at $167 failed on 3rd to 6th and on 8th to 10th at $165
Primoris fell back to $16.25 start of October 2023 ( that was a buying opp in hindsight ) now back to $ 26.2
Analysts expect the price to increase by 3%.
This is how 8 analysts from global investment banks and brokerage houses are currently rating the stock.
Buying 2020 from $18 to $12.5 , ( Attempting to claw back WB. losses ) Thank God in hindsight sold some at $40.45 11th March 2021 . Bought a tranche back 19th August 2021 for $24.5.
Markets insider has news of big solar power project .
4th January 2023..Primoris Services Bags Solar Project With Estimated Value Of $290M
( D ) Primoris Services Corporation is a provider of specialty contracting services. The Company offers specialty construction services, fabrication, maintenance, replacement, procurement, and engineering services through its three segments: Utilities Segment, Energy/Renewables and Pipeline Services Segment. The Utilities Segment offers services, including the installation and maintenance of new and existing natural gas distribution systems, electric utility distribution and transmission systems, and communications systems. The Energy/Renewables Segment offers services, such as engineering, procurement, and construction, retrofits, highway and bridge construction, demolition, site work, soil stabilization, mass excavation, flood control, upgrades, repairs, outages, and maintenance services. The Pipeline Segment offers services, which includes pipeline construction and maintenance, pipeline facility and integrity services, installation of compressor and pump stations, and metering facilities.
From Markets Insider
Citigroup Reaffirms Their Buy Rating on KBR (KBR)
Feb. 17, 2023, 10:25 AM
In a report released today, Andrew Kaplowitz from Citigroup maintained a Buy rating on KBR (KBR – Research Report), with a price target of $67.00. The company’s shares opened today at $55.68.
According to TipRanks, Kaplowitz is a 5-star analyst with an average return of 14.8% and a 64.58% success rate. Kaplowitz covers the Industrial Goods sector, focusing on stocks such as General Electric, A. O. Smith Corporation, and Atkore International Group.
Currently, the analyst consensus on KBR is a Strong Buy with an average price target of $67.67, which is a 21.53% upside from current levels. In a report released today, Stifel Nicolaus also maintained a Buy rating on the stock with a $70.00 price target.
Based on KBR’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.63 billion and a net profit of $74 million. In comparison, last year the company earned a revenue of $1.84 billion and had a net profit of $57 million
Based on the recent corporate insider activity of 84 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of KBR in relation to earlier this year. Most recently, in November 2022, Kelly Douglas Nick, the President of KBR sold 3,456.00 shares for a total of $177,465.60.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
KBR, Inc. engages in the provision of differentiated professional services and technologies across the asset and program life-cycle within the government services and hydrocarbons industries. It operates through the following segments: Government Solutions, Technology Solutions, Energy Solutions, Non-strategic Business, and Other. The Government Solutions segment provides full life-cycle support solutions to defense, space, aviation, and other programs and missions for military and other government agencies. The Technology Solutions segment combines KBR’s proprietary technologies, equipment, and catalyst supply and associated knowledge-based services into a global business for refining, petrochemicals, inorganic, and specialty chemicals as well as gasification, syngas, ammonia, nitric acid, and fertilizers. The Energy Solutions segment provides full life-cycle support solutions across the upstream, midstream and downstream hydrocarbons markets. The Non-strategic Business segment represents the operations or activities which the company intends to exit upon completion of existing contracts. The Other segment includes corporate expenses and general and administrative expenses not allocated to the business segments above. The company was founded on March 21, 2006 and is headquartered in Hous
Analysts expect the price to increase by 23%.
This is how 11 analysts from global investment banks and brokerage houses are currently rating the stock.
Sold half of holding ( D ) $ 57 Fx 1.1995
Last sold same amount of shares 3rd March 2022 for $51.1 Fx then 1.3321.
Exchange rate much better now $ must be stronger .
Sold 2/3rd when I spotted 5 year high $755 Fx 1.2213.
An expensive share by number you do not get many per deal .
Bought them 8th September 2021 for $584 .
584 to 755 = 29.2%
Analysts views seen on ( D ) today .
Stock Price Expectation.........12 MONTH EXPECTATION
Analysts expect the price to decrease by 17%. ( from yesterdays $74.59 ) $74.59 - 17% = $61.9 ))
Analyst Consensus
This is how 28 analysts from global investment banks and brokerage houses are currently rating the stock.
Analysts views seen on ( D ) today .
Stock Price Expectation.........12 MONTH EXPECTATION
Analysts expect the price to increase by 3%.
Analyst Consensus
This is how 29 analysts from global investment banks and brokerage houses are currently rating the stock.
Analysts views seen on ( D ) today .
Stock Price Expectation.........12 MONTH EXPECTATION
Analysts expect the price to increase by 15%.
Analyst Consensus
This is how 48 analysts from global investment banks and brokerage houses are currently rating the stock.
Sold out completely today at at $169.3 Fx 1.229
Did not recall selling the first half last Thursday 26th January at $162
So have sold this tranche at a loss .
overall loss 4% and held over one year .
Must try and correct .
Sold the 18th November top up for $56.5 Fx 1.2387
A little more today then the sell after two days on 11th November 2022 which was at $56.
Two months this time similar gain .
Bought slightly less then a full tranche size back for £82.6 Fx 1.2354 ( on the buy )
Friday using spare booked funds .