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anyone vest this counter can give suggestion ?
bennykusman ( Date: 25-Sep-2009 11:36) Posted:
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on the move up trend ?
Recently it start to move up trend again...anyone advise any potential to vest and long this counter?
will this counter gone case? any comment on co. doing now? TIA
Any1 any comments for this counter/ Volume high? Thanks.
ghlau935 ( Date: 11-Jun-2007 12:25) Posted:
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This counter sure had been zzzzzzzzzzzzzz for a long time........anyone any comment please,thanks.
Good Morning all!
MFS Tech whose major customer is Motorola has seen a significant decline in performance.
It fell after M-Flex said it would ask the Securities Industry Council to reconsider its rejection of M-Flex's application to withdraw its takeover bid for MFS, dealers said.
M-Flex maintains that its bid to take over MFS deal is no longer in the best interests of its shareholders for a number of reasons, including the MFS's lower earnings.
Starc Offshore (S0) is currently in favour of the deal despite advice from MFLX's broad and Special Committee to vote against it. SO has been increasing its stake in MFLX to 16.56%. MFS rose to $0.96 on the news. But it may at a future date determine that it's in their best interest to vote against it.
In the evntuality that SIC doesn't allow MFLX to withdraw its proposed acquisition, and SO doesn't change its stand to vote in favour of the deal, there's a high chance that the deal may go through (SO needs another 3.44% plus one share of MFLX to vote for the deal). L&T believes MFLX will likely get more than 90% of MFS.
However, if the deal doesn't go through by the end of the year, there's significant downside risk.
SIC has rejected MFLX's plan to withdraw the takeover offer. Even then, it would be highly unlikely that MFLX would be able to garner > 50% minority shareholders to vote for the deal.
Wise to heed advice of so many gurus. Hands off now.
At $0.975, MFS was trading at a PE of 19-20x vs MFLX's 10-11x as well as its historical range of 11x-14x, there's significant downside risk hence maintain SELL. Assuming MFS trades to MFLX's valuations, the price could potentially half to $0.50, but if it trades to its own historical average, it could potentially fall by 35% to $0.65.
A foreign broker issued a sell note suggesting to its clients that the stock was worth between 46 and 51 cents.
I think it is going south , don't pick the dropping knife now.Wait for few more days.
As warned, M-Flex withdrew its US$500 million voluntary conditional offer for MFS.
M-Flex said its withdrawal of the offer for MFS shares was based on sharp falls in the MFS' third-quarter net income. M-Flex's Chief Executive Officer Phil Harding said in a statement that "in light of recent developments, the acquisition (of MFS) no longer makes financial sense."
M-Flex said its withdrawal of the offer for MFS shares was based on sharp falls in the MFS' third-quarter net income. M-Flex's Chief Executive Officer Phil Harding said in a statement that "in light of recent developments, the acquisition (of MFS) no longer makes financial sense."
Q3 net profit fell 84% to $1.04m.
You're welcome rsua88!
I am a TA purist with a short term outlook to trading but I have benefited from Nostradamus' FA insights as well. :)
Hi Nostradamus,
Thanks for the update. MFLEX will indeed disappoint the market over 2 quarters and that's going to cause its stock price to bottom further. If its not for your insight and timely advice, together with that received from Singaporegal, I would have burnt a hole in my pocket and probably by next week there isn't any pocket left.
On May 9, MFLEX estimated earnings to be in the range US$12.2m to US$13.6m. Now it has revised downwards it fiscal 3Q net income to be in the range of US$7.5m to US$8.5m. MFS could also revise downwards its earnings. Then the offer terms could be revised lower.
U r welcome, rsua88. I just don't like to see questions left unanswered.