fst
Re: fst
FST? get out and put the money some place like gte, pxp, etc. this thing is bad news, technically and fundamentally.
the chart is a disaster and then this---
eg:
Stocks To Watch Today
News and commentary about the stocks you need to know about today
Search Stocks To Watch Today July 7, 2011, 5:46 PM ET.Forest Plunges After Downgrades, Disappointing Guidance.Goldman Downgrades SBUX, YUM: Restaurants Less PromisingRetailers See Biggest Jump Since 2004; Stocks Power AheadEmailPrintPermalinkShare:
Twitter facebookYahoo! BuzzStumbleUponDiggfarkredditMySpaceLinkedIndel.icio.us Text Size
By Kevin Sheehan
Oil and gas producer Forest Oil (FST) issued revised guidance for the second half of 2011, triggering downgrades and a sell-off.
The Colorado-based driller kicked off its rebuilding efforts last month issuing an IPO, spinning off its Canadian operation, Lone Pine Resources (LPR), which raised $183 million. In today’s release Forest noted that 7 million cubic feet equivalent per day (gas exploration) was lost due to production downtime in the Texas Panhandle for compression, flooding in south Louisiana, and its divestiture of 10,000 net acres in Wilson County Texas (of the Eagle Ford drilling project) for $110 million.
Bank of America Merrill Lynch analyst Gil Yang dropped Forest Oil to underperform from neutral noting that the guidance released after the Lone Pine IPO illustrated “a double whammy of challenged growth prospects at FST combined with aggressive capital spending. While oil exposure rises due to successful drilling in the Eagle Ford, it appears that FST’s growth is unlikely to turn positive until 2012 at the earliest.”
Goldman Sachs analysts also cut Forest Oil’s price target ($32.00) and analysts at Macquarie lowered Forest from Outperform to Neutral.
The stock fell early and lost over 13.6% by Thursday’s close.
the chart is a disaster and then this---
eg:
Stocks To Watch Today
News and commentary about the stocks you need to know about today
Search Stocks To Watch Today July 7, 2011, 5:46 PM ET.Forest Plunges After Downgrades, Disappointing Guidance.Goldman Downgrades SBUX, YUM: Restaurants Less PromisingRetailers See Biggest Jump Since 2004; Stocks Power AheadEmailPrintPermalinkShare:
Twitter facebookYahoo! BuzzStumbleUponDiggfarkredditMySpaceLinkedIndel.icio.us Text Size
By Kevin Sheehan
Oil and gas producer Forest Oil (FST) issued revised guidance for the second half of 2011, triggering downgrades and a sell-off.
The Colorado-based driller kicked off its rebuilding efforts last month issuing an IPO, spinning off its Canadian operation, Lone Pine Resources (LPR), which raised $183 million. In today’s release Forest noted that 7 million cubic feet equivalent per day (gas exploration) was lost due to production downtime in the Texas Panhandle for compression, flooding in south Louisiana, and its divestiture of 10,000 net acres in Wilson County Texas (of the Eagle Ford drilling project) for $110 million.
Bank of America Merrill Lynch analyst Gil Yang dropped Forest Oil to underperform from neutral noting that the guidance released after the Lone Pine IPO illustrated “a double whammy of challenged growth prospects at FST combined with aggressive capital spending. While oil exposure rises due to successful drilling in the Eagle Ford, it appears that FST’s growth is unlikely to turn positive until 2012 at the earliest.”
Goldman Sachs analysts also cut Forest Oil’s price target ($32.00) and analysts at Macquarie lowered Forest from Outperform to Neutral.
The stock fell early and lost over 13.6% by Thursday’s close.