Subscribe in a reader ITZ has National Oilwell Varco (NOV) on the radar. Berkshire Hathaway took a stake in National Oilwell Varco Inc. (NOV) as billionaire Chairman Warren Buffett made more funds available for the portfolios managed by deputy stock-pickers. read
The company have proposed a $2.5 billion buyout of Robbins & Myers. The latter has set a special meeting of shareholders on December 27 to discuss the proposed transaction. Expect the deal to close in early 2013.
14 comments:
Entering 1/4 trade $66.75 follow ITZ on Twitter for updates
Looking to add another 1/4 position @ $65
added to NOV @ $65 on open
STOP SET $69
$NOV raise stop from $69.50 to $71
Raised stop to $72
Raise STOP to $72.50
Raise STOP to $73 * note using 8 day EMA as trailing stop, adjust accordingly
Hit $73 STOP (entered 1/4 positions $66.75 $65 & $70.25) avg cost $67.30 or +8.47%
ITZ re-entered with 1/2 position this afternoon @ $73.50 ahead of earnings. STOP set at $72.50. Looking to add post earnings report
NOV beat estimates yet is selling off on the news. Stopped out on position @ $72.50
Re-entered on pullback this morning $70.50 1/4 position (50ma)...listening in on CC will recap later
ITZ is lowering EBITDA/EPS for 2013 from $5.12B/$6.61 to $4.72B/$6.28 & 2014 $5.53B/ $7.38....
Due to a lack of clear catalysts
and resurgent fears about the offshore rig construction upcycle,expect sideways market until run rate pickups this fall.
Lowering PT from $100 to $90. About 30% from 1/4 position $70.50 entry. Look to add on pullback.
Current position 1/2 entered @ $70.50 Feb 1 & $66 Feb 5 (avg cost $68.25)
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