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Re: [RT] LU



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I would also take 10-15 cents and bail out
Ben
----- Original Message -----
From: "Gary Funck" <gary@xxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Sunday, September 22, 2002 9:38 AM
Subject: RE: [RT] LU


>
>
> > -----Original Message-----
> > From: Daniel Goncharoff [mailto:thegonch@xxxxxxxxxx]
> > Sent: Sunday, September 22, 2002 5:20 AM
> > To: realtraders@xxxxxxxxxxxxxxx
> > Subject: Re: [RT] LU
> >
> >
> > LU is interesting, if the data I am looking at are correct.
> >
> > Market cap is down to $3.6BB, and cash per share is $1.58. A buy out
> > around $1.50 pays for itself!
> >
> Something else to look at: net tangible assets,
> http://biz.yahoo.com/fin/l/l/lu_qb.html
> dropped from $8.78B to $0.55B in just the past quarter. At the same time,
> shareholders equity dropped from $10.6B to $0.9B.  With 3.43B shares
> outstanding, there is about $0.17/share in net tangible assets.
> LU is projected to lose -$0.59 per share for next year (ending Sept-2003).
If
> they do that, they'll likely wipe out their remaining net tangible assets
per
> share, which will leave the shareholder with negative value per share.
BTW,
> revenues are expected to drop from 12.2B this year to 9.5B next year
(a -23%
> drop in business) - no one is expecting a turnaround just yet.
>
> Even as an asset play, LU looks pretty bad, because of all its debt, and
low
> net tangible assets per share.
>
>
>
>
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>


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