Open Question
I hold some stocks of BZH and in the last one month or so it seems its having a
free fall of sorts. Is it is a good idea to hold that stock in the short to
medium term and expect a bounce or should I sell the stocks I currently hold
Page 1 of 1
lilly. hahahaha on me. it was suposed to say*but WHAT do you.....* duh, mike
Rate Now:
Average Rating: 0.00 / 0
lilly, was just kidding. far as i'm concerned i couldn't have said it better.
mike
Rate Now:
Average Rating: 0.00 / 0
Mike - I completely value your thoughts. Very bad issues with this stock. I do
rely heavily on news but here's the chart ...
http://tinyurl.com/m8dvk3
Rate Now:
Average Rating: 0.00 / 0
flower, but do you really think about it? mike
Rate Now:
Average Rating: 0.00 / 0
Do you review all news about your stocks? This is a horrible situation ...
Beazer Homes to pay up to $55M to settle mortgage fraud charges
On July 1, Beazer Homes announced that it has resolved several
previously-disclosed governmental investigations. The company has entered into a
deferred prosecution agreement with the U.S. Attorney's Office for the Western
District of North Carolina and a settlement agreement with the U.S. Department
of Housing and Urban Development and the civil division of the Department of
Justice. The company's payment obligations under the DPA and the settlement
agreement with HUD are interrelated. The total amount of such obligations will
be dependent on several factors; however, the maximum liability under both
agreements and the previously announced agreement with the OCOB will not exceed
$55M.
eazer Homes (BZH) is falling today, after S&P reduced its credit rating on the
company to CCC from CCC+. The ratings agency said it made the change due to
Beazer's large Q2 loss. S&P notes that the loss further reduced Beazer's
shareholder equity and tangible net worth, raised the company's already-high
leverage ratios, and increased covenant pressures on Beazer. "As a consequence
of its lower tangible net worth, Beazer tripped one covenant governing its
secured revolving credit facility during the quarter and, in our view, appears
more likely to breach other financial covenants barring some form of
recapitalization," said S&P credit analyst James Fielding. "We believe that this
condition raises the likelihood that the company may pursue various
opportunities to reduce leverage, which could include a below-par debt
exchange," added Fielding. In addition, S&P has a negative outlook on Beazer, as
it believes that the company's earnings will be weak over the intermediate term.
Because it's truly a horrible company, I'd sell on any bounce and move on.
Rate Now:
Average Rating: 0.00 / 0
Page 1 of 1
