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McDermott (MDR +11%) shares march higher following a batch of insider buying after dropping 44%...

McDermott (MDR +11%) shares march higher following a batch of insider buying after dropping 44% Y/Y. Insiders may be seeing progress toward beefing up the company's backlog - now below $1B for 2013 - but Paul Ausick says that’s a risky bet: If oil prices fall much further, production costs can eat up a lot of profits, meaning "less cash flow and less capital investment."
Comments (2)
  • Herr Hansa
    , contributor
    Comments (3079) | Send Message
     
    They have some large contracts starting soon, but the revenue increase from that is probably still a couple quarters away, if not longer. It's not a bad long term investment, but right now might be a little early to jump in.

     

    Disclosure: long MDR
    7 Jun 2012, 03:09 PM Reply Like
  • barcaboyvn
    , contributor
    Comments (275) | Send Message
     
    I was in earlier this year but sold all after it went to 15 when Q1 earning was out. Last time I checked they had 5B in backlog, how come now they have only 1B for 2013, the big bid of around 2B in Australia has been done already?
    7 Jun 2012, 03:20 PM Reply Like
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