Amec Foster Wheeler Share Discussion Threads

[uncle_sam] 08/3/2016 16:12

Note yesterday's RN - Citadel Advisors have sold so are now below the 5% holding mark.
Anyone picking more of this up before ex-dividend date?

[finess] 08/3/2016 15:51

Results must have arrived from the printers so everybody has seen them.. :-)

[gateside] 05/3/2016 18:42

Results on 10th March

[mornington crescent] 05/3/2016 17:42

Results next week ?

[finess] 05/3/2016 09:58

Well I reduced again yesterday and feel comfortable about it.Now less than 10K in play

[mornington crescent] 04/3/2016 16:47

Refinancing makes a big difference

seems a good deal

Amec Foster Wheeler announces today it has completed the refinancing of its main debt facilities by entering into a new facility with a syndicate of 20 banks.

The new facility, which has three tranches - a three-year £650m term loan, a five-year £650m term loan and a five-year £400m revolving credit facility - replaces the company's existing revolving credit facility and the Foster Wheeler acquisition facility.

The interest cover covenant of more than 3.0x remains unchanged, while the net debt to EBITDA covenant is increased to less than 3.75x for the first two years, reducing to less than 3.5x thereafter.

No capital repayments are required to be made until 2019 under the terms of the facility.

The syndication process was oversubscribed and banks were therefore duly scaled back.

[dr_smith] 04/3/2016 16:26

I'm a watcher here, with amec shortlisted, just spotted this:

Re Contract with US Air Force


"The contract has an aggregate maximum value of US$500 million for the eight awardees"
..so say $71m p.a. for this 7 year award, approx 1% of turnover for amec, before splitting between the 8 awardees.

[bend1pa] 04/3/2016 16:20

Long way to go yet despite its amazing recovery so far. AMFW was at this current level at the bottom of the 2008 share slump. Still could well double from here if the oil price was to recover to $60pbl. Not an unlikely scenario over the next 2 years.

[neilyb675] 04/3/2016 15:03

incredible, nearly all my losses on this share wiped out in a couple of days....contracts wins galore

[cestnous] 04/3/2016 10:40

looking for £7.70 on completion of the first bowl here.

[woodhawk] 03/3/2016 12:20

Well, I was a tad hasty yesterday - nevertheless, done very well out of this stock in the last few weeks. Looking for a poss re-entry on a significant pullback,

[bend1pa] 03/3/2016 12:17

I suspect the shorters have been badly burned by this stock, currently up 20% in just a week. Expect a pullback soon, hopefully back below 400 as it would give me a chance to really pile in (only a smallish holding atm). It certainly isn't a boring stock.

[finess] 03/3/2016 11:21

I took a deep breath and reduced my exposure

[woodhawk] 02/3/2016 18:06

I was surprised by the strength of today's move, I assume a lot of short covering. I've done well out of the recent volatility and sold the remainder of my holding today, tho' I will undoubtedly be tempted again if - as I suspect - it pulls back to below £4.00 as savagely as it has of late.

[bend1pa] 02/3/2016 17:41

How volatile is this share? Looks like shorters were scrambling to close their positions today. Last recent high was 425 in early Feb, so either breakout is imminent or a plunge back from this point. Today AMFW secured extra loan facilities for 3 and 5 years so they've been given some breathing space. But I'm not sure getting into a debt mountain they find themselves in is a good idea. Many well known names of the past eventually found themselves in administration through such a policy. A rights issue would have been a lot more sensible even though it would have meant diluting their capital. I hope they know what they're doing

[woodhawk] 02/3/2016 09:39

I think this may need to retest the £4 level before it moves any higher?

[edjge2] 02/3/2016 08:44

475 would be breakout?
Have a feeling will keep some divi too if oil holds up. More oil fix biz I would think in an oil turnaround.

[losos] 29/2/2016 16:32

FINESS - "I supplied AMEC and always found them a solid company, never had any dealings with Foster Wheeler"

Worked as a contract design engineer for both Amec and Foster Wheeler in the nineties. Although not long contracts I rated them highly unlike some I could name LoL.

I've done everything wrong as well !!! but I can sit on a paper loss for some years if necessary. LLOY was another disaster but seems to be comming right now, let us hope it is a tad quicker with AMFW.

[typo56] 29/2/2016 16:14

MSCI index changes take effect tonight. Could be some action in the closing auction.

[edjge2] 29/2/2016 14:36

A bit more finess and mistakes out the way can only get better?

[finess] 26/2/2016 18:21

I am not sure what I call this stock

Its "I hope I get out " stock but will not stop me changing the car or the sunshine holiday in Antigua.

I have done everything wrong, ignoring stop loss, adding to an offside position (Averaging) and failing to look at fundies.

In a former life before selling out to Speedy Hire I supplied AMEC and always found them a solid company, never had any dealings with Foster Wheeler.

[bend1pa] 26/2/2016 17:25

My average is £5.06. IF oil rallies then I'm fairly confident this will too. I don't see very much chance of an oil rally beyond $50/bbl (Brent oil) this year though. Not with the massive glut still present. Eg US has its biggest stockpile in over 80 years. I don't see much chance of AMFW paying a div next year either TBH, so I don't count on this as an income stock any longer, which was the intended purpose. Pure speculation play now.

[edjge2] 26/2/2016 12:57

adr's data
hxxp://shortsqueeze.com/index.php?symbol=AMFW&52088
lse reads medium attack


I'm only recently in.

[finess] 26/2/2016 12:31

@Gateside

My average is £552.63

Any idea on the short positions.