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Yeah ... a day when you just have to throw yourself in early ...i did too at 484p but I would certainly like to know more about whether the cost controls have gone out the window or if the sales have significantly fallen so quick..time will tell
I bought at 488 so will also be looking for 550. "Significant" is at least 10% and could be 25% at worse. For that range a 35% plus fall was overdone. It's a punt without the full facts but that's what we guys are in this for, isn't it?
I would think 15-20% would be 'significant'... in which case this has been overdone. The market is going to have to punt at where the profits are... I think we'll go to around 550-575 here, but pressure from the longs it's also going to want to make some short interests book profits before speculation eats at them. Pretty happy with my entry (485) and I'm looking to bank a +15-20% bounce reversal.
Precisely, everyone's interpretation of significantly is different. Most will take the extreme view however if profits come in around 5% below then the BoD will be deemed heros hey..
Interesting view although "nothing other than a statement" included the following "underlying operating profit for 2015 likely to be significantly below expectations" the elephant in the room might just be that little word "significant" For me I am just a little concerned that things have changed so fast in such a small timeframe...
This will recover tomorrow... Reaction is usually OTT, 37% drop on nothing other than a statement.. Profit target could be missed by as little as 5% so even keel would be to push back to recover approx 10-18% down
I see it like Rhambo and Nimrod. I've been in and out here before and it is a quite volatile share. Been on my watch list for a year or so. This is a good business to be in. The big risk here is that they get pushed out by competition from much larger companies.
I think we need more detail than we have, given the strong reversal in the tone of the updates from April and June April - "We remain encouraged by the strong demand for LED lighting but we need more focus and attention to keep pace with the Group's rapid growth in sales with the Board's expectations for the full year remaining unchanged. June - "a slowdown in the rate of orders since April is now likely to result in a shortfall in full year revenue with underlying operating profit for 2015 likely to be significantly below expectations" Just how much have sales plunged? Does the company really see no improvement for the rest of the year as signalled today? Or is this just the new CEO starting on the worse case scenario in order to show how he will make things look better? The review started in April so one hopes there will be details of that before the Autumn or has the new CEO ripped that up and started again?
£5K at 37% drop this morning. The LED market is not going to get smaller. Whilst being involved in ship building I noticed that owners are now specifying LED lights for the obvious cost savings in longer lamp life, lower air-con requirement to remove heat etc. I see that floodlights and searchlights are now being supplied in the market, so there's more to come.
Probably going to see some short closures (profit taking) after this, so bought in on the dip here. Will add more if it drops further to a point. Been waiting for a 'buy low' opportunity for a while.
In my experience they tend to increase the shorts on bad news and especially if there is plenty of time before the next news.
Agreed, usually rinse, repeat, rinse, repeat. This has been overdone for now, nobody knows what level profits have fallen and a profit is a profit at the end of the day. Either way, short disclosure is not much different to other company's.. 5% is nothing to write home about.
Don't forget, rinse rinse repeat!
I was just watching the AT sells going through although there have been AT buys most of the AT's have been sells.
Shorts were already open.. the report pre-dates today.
The DIV will be one of the first areas to save money ..easy target for the new CEO. Tightening up inefficiences will also usally save money but the key will be how quickly he can get things implemented....he will need to start taking action before the full review is ready
Be careful, 5% shorts open here. After news like this you my see an increase. http://www.fca.org.uk/firms/markets/international-markets/eu/short-selling-regulations/notifications-disclosures
Overdone, take advantage of knee jerk reactions.. The BOD will review and get this in order and as always O&G will recover. No diffferent from any other company affected by these commodities
New CEOs also like to get everything out in the open early on ... a review was necessary before any further investment ..a good move.... Could become a takeover target
63% of revenue comes from that part of their business
Does anyone know how much of DIA's revenue is derived from oil and gas clients? Can't find this anywhere...
good post , looks like an overreaction although sadly some large sells still going though , hoping this share price may soon recover
Strategic reviews are pretty standard for new CEOs to undertake. Can't help thinking this drop is an over reaction and should recover to 550p soon. Good one for the traders unfortunately. ...
Or not! - Strategic review until the autumn - so basically limbo
Sorry 50 not 550 - OLEUM