Word: debt
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...shares. As of April 15, there were 122.9 million shares sold short, down 13% in two weeks. Level 3 has two factors that short sellers love. It has awful financial prospects and a volatile share price. At the end of the last quarter, Level 3 had $6.3 billion in debt and almost no operating income. The company is constantly trying to restructure its balance sheet, is facing a number of shareholder class action suits, and its shares swing up and down rapidly. In early January, Level 3 traded at $1.49. It dropped to $.57 in mid-March and has nearly...
...Sirius XM (SIRI) has been a favorite of short sellers for years. Once considered among the most promising growth stocks in America, its debt problems nearly forced it into Chapter 11. Liberty Media put $530 million into the satellite radio company just days before it would probably have gone bankrupt and got 40% of Sirius and along with debt for the capital. The company's stock began the trading year at $.12 and fell to $.05 in early February on concerns that it might fold. Since then, the shares are up over 8x to $.43. There were almost 167 million...
...remaining party to any GM or Chrysler accord that averts bankruptcy will be the bondholders, who must agree on a reduction in the amounts owed. At Chrysler, bondholders made concessions on Friday, reducing Chrysler's $6.9 billion of outstanding debt for the second time. The bondholders had earlier agreed to accept $4.5 billion; on Friday they reduced the amount further, to $3.75 billion. A final deal with creditors much be reached by May 1. Among Chrysler's biggest bondholders are JP Morgan Chase, Citigroup, Goldman Sachs and Morgan Stanley. Even if Chrysler reaches a deal with its major creditors...
...Rosetta Stone's effectiveness has yet to sour the stock. But investors hoping that the stock's success will start an IPO surge - there have only been four offerings this year - might be disappointed. Rosetta Stone worked because it's a profitable company with solid growth prospects and manageable debt. Many IPO hopefuls don't share these traits. "Anyone who thinks that the IPO pipeline will open up is mistaken," says Sweet. "Institutions and retail investors won't even look at the stock if the company it debt-ridden, is losing money, or if sales are lumpy. There...
...ground,” Gaur said. He intends to work on an online pharmacy project that examine Web sites that illicitly sell prescription drugs, an under-studied public health problem, Gaur said. Other students said that they would use the money to pay off graduate school debt, which Soros Fellow Previn Warren ’04 described as “wildly expensive beyond anyone’s reasonable dreams or expectations.” “If I didn’t have this,” Warren said, “I would have to go work...