Property Market Forum - Estate Agent Forums

Manitowoc (MTW:NYSE) $8.80 + 1.35 on 6,041,978 shares. This is a company in the Bargain Bin. In October the company concluded the takeover of Enodis PLC for $2.7 billion and at the current price of $8.80 the market cap of the entire company is $1 billion. I would not be surprised to see someone bid for this company especially the companies who bid for Enodis PLC. The stock is down from $50.The January $5.00 Calls (MTWAS) are $3.80-4.00 up from $3.35-3.50 on 12-05-08 and the March $5.00 Calls (MTWCS) are $4.10-4.40 up from $3.90-4.20.
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Sandisk (SNDK:NASDAQ) $9.51 + $0.28 on 8,873,148 shares. Management turned down a $26 deal from *******. Toshiba passed at an offer. I would not be surprised to see ******* come back with a lower offer in the future. I like the January $5.00 Calls (SWQAR) currently at $4.50-4.70 up from $3.35-3.50 on 12-05-08 or the April $5.00 Calls (SWQDR) at $4.95-5.25 up from $3.90-4.20 on 12-05-08.

Chesapeake Energy (CHK:NYSE) $14.68 + $2.76 on 57,501,183 shares. Trading above $15.50 could see $17-18 or higher. We are long the Jan $7.50 Calls (CHKAP) are $6.90-7.10 and the January $10 Calls (CHPAY) are $4.90-5.20.

I am putting together a list of badly beaten down stocks for a rebound in 2009. I will release those picks either before the open or intraday so monitor your updates intraday.


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