Enodis Share Discussion Threads

[alan6012] 16/5/2003 10:08

Jumped in at .38 - New to this one!

[the dart] 15/5/2003 07:34

The last domino ..... 37.460 700,000 07:16 O ......

[chiansaw] 15/5/2003 00:42

Only 2 out of 12 MMs on 38p offer, rest 39p plus...

[the dart] 14/5/2003 19:27

They are well placed buys that are not requiring disclosure, I have tried the maths there are always so many assumptions, but it leaves me with the conclusion that the dominos will fall very soon, as Barclays have no shares left anymore and no other big player is parting with theirs. Other private sellers must have contributed also, had thought Barclays wouldn't throw all toys out of the pram, they have obviously done so though.

The 50p+ is the current fair value for Enodis excluding the rather positive news on growth up 4%, taking account a stable market (With no one dumping as we still seem to have), be happy to buy more tommorow perhaps 38,000 see if I too can do a deal with either of the MM's leading the pile.

PUTTING IT ANOTHER WAY - MM'S FIND WILLING BUYERS INSIDE THE SPREAD FOR THE CONCLUSION OF THE SALE OF THE BARLCAY SHARES PERHAPS UNDER SHARED RISK (NOTE MM TRANSFERS) PROBABLY HAPPY TO GET RID OF FINAL BALANCE AT MID - SUGGEST THE DUMP IS CLOSE TO AN END. SEEN ALL TOO OFTEN OUTCOME NOT 100% CERTAIN BUT USUALLY SHARES RISE SHARPLY SHORTLY AFTER !!!

Sale ends soon, more buying pressure tommorow will help tip the scales into new range if not very soon after, patience is all important vertue....

[chiansaw] 14/5/2003 14:44

Still can't get my head round these big ? trades - never seem to affect price - so what are they? Answers to 'Chainsaws ? Trade' Competition.

[clemenm7] 14/5/2003 11:47

Dart,

50p in two weeks would be great.

The trades going through are interesting. The large trades that are going through are happening at below mid price but there appears to be good support in the price and we are making some headway. My two thoughts are that either the instituions (putnam or barclays) have cleared the stock they wanted to sell or that MMs are looking to increase the daily traded volume. Either way we should see some upward force as a result. My target would be 40p within two weeks, which is a nice 10% on current levels...good press/news of an institutional purchase to follow director support would help!

[chiansaw] 13/5/2003 21:54

Hope you're right Darty !!

[the dart] 13/5/2003 20:37

50 pence plus will be easy now.

No real director action in over 2years, and now this show of support from the new boy on block who has had a good chance to see what a bargin he is buying. The market will respond accordingly by ticking the stock up, as the demand and supply for stock play out their roles.

Time to top up me thinks, this will rise very quickly indeed. See you in two weeks trading at 50p plus, 38p will be a distant memory by then.

So much for the wait a few months thing, sometimes I think they do it just to prove I'm wrong well on this occason I'm gald, glad, glad, glad so their no hard feelings..

MINT ME BABY - UP AT THE OPEN WITH RENEWED BUYING PRESSURE FROM THE OUTSET -

YOU HEARED IT HEAR FIRST !

REGARDS

FROM

THE DART

[clemenm7] 13/5/2003 15:33

patience is the key to profit on ENO, its good to see that the volume is increasing following on from the director purchase of 500k. I got in at 37.7p on the way down and I am very confident of a bounce back into profit.
fundamentals are improving and the cost restructuring will deliver earnings benefits within the current financial year. With the American reluctance to fly at the moment their domestic tourism market is bouyant so with more yanks staying at home and spending in their own backyard in restaurants and take aways the investment will follow (sounds simple doesnt it). With improving trading the only way is up.
as already stated I am in so DYOR

[the dart] 08/5/2003 18:58

My only thought is last lot of Barclay's shares still to go with so little volume, but cannot have much left now, maybe three or four days, better press, stronger dollar will not hurt either. Dollar in a downward triangle formation now.

Be patient...., looks like my title is out the window for this week fat chance of it rising steeply this week now, but up on a down day suggests that this share is unhinged from the market and a very safe place to hide with all the profit taking now elsewhere.

THE TREND IS UP >

Best to leave be for a wee bit and return, but hay we can never help keeping a eye on it can we, so long as you don't overtrade and chase the market back down to test resitance.

This stock will rise very fast and unexpectedly as it has a very uncertain trading pattern, get what it is worth then move on, can often mean several months, reduce than release final holding maybe anything upto two years later. I will take 100% a year any day, there is no way to get an easy 100% in weeks that's pure gambling not investing although I have done it several times as I'm sure a many others have in some rather specualtive buys (Low weighting), examples are many but I wouldn't want to offend/deramp by naming stock, as some posters may have positions who cares so long as it's not a serious amount.

Always be prepared to hold stock for long durations if your overweight, there is alot to look forward to in this stock, look at the market today losing alot of ground Enodis though is gaining back some ground.

[chiansaw] 08/5/2003 11:10

Willing seller or not where did the stock come from and why hasn't price changed one iota? Puzzled and curious !!

[nicanon] 08/5/2003 10:27

Trades look like buys from first thing, delayed due to size, all made by one purchaser. There must have been a willing seller to part with so many shares so I don't expect much more movement for a day or two.

I am usually wrong with my predictions !

Dart - excellent post of 3 May.

DYOR

[chiansaw] 08/5/2003 09:56

Some SERIOUS Trades being made - hope they're buys - can't seeif sells that MMs would have dropped price . Expect tick up or more soon...I HOPE !!!!!

[chiansaw] 08/5/2003 09:44

? Trades look like buys to me. Shaping up nicely on a day FTSE day...

[josephmsmith] 08/5/2003 08:23

My problem is i dont have a big enough glass.

First 7 trades all buys, good sign?

[chiansaw] 08/5/2003 08:01

Burrmj - take a glass half full stance for a bit !!!

[burrmj] 08/5/2003 07:51

the dart,
i think you could be right about 4pm today.
started with a tick down of 1/2p now showing rise of 1pm. who knows??

[the dart] 08/5/2003 07:49

Market will like it, up at the open.

[burrmj] 08/5/2003 07:37

well i am certainly pleasantly surprised with the results, as you all say no hidden nasties and the company is slowly moving in the right direction.
even if the shares do drop a little today, i feel confident in holding for another three months at least, but i will definately not buy any more, (unless they go sub 30p again)as i have too large a holding for my position.

[chiansaw] 08/5/2003 07:30

Just wait for the start of trade then - I think it will tick up...but Ive been wrong before !!!! The stock is cheap as chips based on figures in my view. Nice for insts to stick away as a lower risk hold.

[the dart] 08/5/2003 07:27

Morning Chainsaw,

"Like-for-like operating profits at most other North American businesses increased", key factor that the markets in my view will focus on, they were expecting things to get worse with current price.

Cost savings in H2 will be a huge advantage to the headline earnings per share giving Enodis a good PE for the year and prospective PE with the rationalisation savings and some return to operating growth.

Debt reduction will makes things easier also.

Couldn't see any nasties either.

[chiansaw] 08/5/2003 07:14

Anyone up yet ? Oh the joy of having two young kids !!

Had a quick scan of results - no hidden nasties as far as I could see, and figures in line with expectations I hope.

Get the feeling the ratianlisation is beginning to pay off as well. Be interested how market/MMs see it.

Any views !!

[josephmsmith] 07/5/2003 22:53

Reminder 8th April.

Trading Update

Operating profits for the 26 week period ended 29 March 2003 are expected to be as the Board anticipated at the announcement of the preliminary results on 20 November 2002. Q2 03 operating profits are expected to be below those of Q2 02, due to adverse foreign exchange movements and the effects of disposals.

On a like-for-like basis Q2 03 operating profits will be in line with Q2 02. We expect weaker profits at Food Service Equipment - North America, due to lower sales to certain Quick Serve Restaurants and continued pricing and margin pressures at our North American refrigeration business. However, we expect this to be offset by an improved Q2 03 performance from our Food Service Equipment - Europe/Asia businesses and also from Food Retail Equipment, where we expect a small profit this quarter, compared to like-for-like losses of £0.9m in Q2 02 last year, as Kysor Warren's performance continues to improve.

New cost reduction and restructuring measures are being implemented, including salaried headcount reductions, purchasing and material efficiency initiatives and reductions in discretionary spending. These actions are being taken to mitigate the likely impact of slower markets in the second half. These measures are anticipated to save up to £9m of costs planned for the second half of the current year, resulting in a full year saving of £13m. The Group is taking an exceptional charge for the cost of these programmes, together with the costs of relocating the office of the CEO, expected to be approximately £4.5m in total, with approximately £1.7m recognised in the first half. In addition, as a result of the slowdown in the property market, approximately £2.5m of exceptional provisions will be recorded for liabilities for vacant leasehold properties.

In line with the Board's expectations net debt at the end of Q2 03 is expected to be broadly the same as at the end of Q1 03. It is anticipated debt will reduce in the second half.

Enodis will announce its interim results on Thursday 8 May 2003.

[chiansaw] 07/5/2003 19:37

Hope you're right Darty. Held today - the trades today were low volume with no reason for the fall - MM games I hope. Sure big order am was a buy as well. See ya early tomorrow.

[the dart] 07/5/2003 19:28

You will be glad you didn't sell come 4pm tommorow burrmj, at least the odds are heavily weighted in that direction, still the key will be the results themselves will need to go as expected, the fall today is not a negative indicator more a very short term movement (Supply/Demand on the day), MM's not wanting to hold with event risk and so on, they are not investors/specualtors they are market makers....

A big player has an order yet to fill, why not put the price down to see how many retail customers you can weed out with demand so weak, I think they got it just about spot on, had they put the price up it wouldn't have helped their client too much nor increased the volume too much, it's very much a case that we need results and perhaps some time to digest before we move on.

In any case with a lack of private buying the only real driver now are the big players, when the results coming, those that hold will want to add, plus directors and the private buyers who are actually doing very nicely now at the moment anyway, most value plays are up.

Never seen my portflio with nothing but green across the board three days on the trot, the only stock falling over last three days (and just today) Enodis, still will rise back as quickly as it falls not that meantingfull on trades placed today.

Well all those holding now, it all eyes on results at 7:00am tommorow - Good luck !