Member Info for hey_arnold

I noticed Petrofac's ADR closed up 5.95%, I don't know how much the UK and US listings differ in terms of day on day moves, but is this a possible indicator of further upside to prices on Monday?

It know most of them probably shorted around 20-30% higher but its quite satisfying seeing it go in their faces a bit.

Great buy!

Maybe now?

Already too loaded... :)

It just logged me in to my own gmail

Thanks Mark, much appreciated.

do*

how to auctions at the end of the day work? why would they bid above where it closed?

Must admit I was nervous this morning when it got sold down 3%. Nice to see it rise now :)

We have lift off

Lets see what the US think in an hour.... Fingers crossed they take it further up.

I will have to watch it after work but all the below is useful. thanks

No doubt we will see a few more Trump tweets about it though. :(

My worry is that if there are no contract wins and nothing else has really changed then the shorters will pounce knowing its been lifted on no real information.

Annoyingly I missed buy some at around 400p earlier today. Whilst I do think there has been some genuine buying interest at these levels, I also worry that the market makers have just been moving the price up and its wouldn't take much to sell it back down... What would constitute good results on 28th given debt has already been reduced. What is the market currently not pricing in?

was it results? Have more customers left or did they cut the divi? I used to work at Centrica, i thought conn was a bit of a joke... full of excuses but no solutions

Analysts can’t buy shares in stocks they cover.

HSBC downgraded Petrofac to “hold” from “buy”. Its move followed David Lufkin, Petrofac’s former head of sales, pleading guilty this month to charges of bribery relating to contract awards in Saudi Arabia and Iraq totalling more than $4bn.

The news “represents a material widening of our understanding of the case scope and introduces new uncertainties”, said HSBC, which highlighted that Saudi Arabia was Petrofac’s third-largest Middle East customer. It estimated that a fine of $2.5bn would leave Petrofac worth 355p per share, suggesting the market has priced in up to $2.25bn in penalties and franchise damage.

“The potential expansion of the Serious Fraud Office case has the potential to overshadow the shareholder story over the coming years if a substantial fine is levied and the company franchise is impacted.”

HSBC

Agree with you on this.

Oh and this made me laugh.

'The second is Semaan is deceased with Lufkin appearing to implicate him. Good luck getting to the bottom of that'