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Friday, April 26, 5:29 PM Headlines focused on SandRidge (SD) management have missed a more fundamental issue which may lead to further share weakness, Josh Young writes: Well performance is much worse than expected. Permian Trust (PER) results were so bad that cash was pulled from subordinated unit distributions to fund minimum common unit distributions, which means SD's interest in the asset is generating less cash flow than expected. 4 Comments [Energy]
Friday, April 26, 8:43 AM SandRidge Permian Trust (PER) -5.2% premarket after announcing a subordinated threshold distribution of $0.512 per common unit and $0.353 per subordinated unit. The realized oil price, including the impact of hedges and natural gas liquids, decreased 8% Q/Q, which had a material impact on the distributable income for the period. Comment! [Energy, On the Move]
Tuesday, March 5, 12:17 PM SandRidge Mississippian Trust I (SDT -9.5%) is cut to Sell from Hold with a reduced $13 target price at Wunderlich, citing a weakening distribution outlook due to higher costs, lower production and a higher mix of natural gas being produced. Investors may be attracted to SDT's yield, but the firm says investors should focus on the trust's risk profile. SDR -4.9%, PER -2.5%. 33 Comments [Energy, Quick Ideas, On the Move]
Friday, March 1, 9:55 AM Falling in concert with SandRidge Energy (SD) are the company's trusts. SDT -4%, PER -2.6%, SDR -6%. 7 Comments [Energy, On the Move]
Wednesday, February 6, 12:33 PM Energy trusts suffer another shellacking after RBC Capital issues downgrades and target price reductions for SandRidge Permian Trust (PER -6.6%), due to reduced production visibility and increased risk profiles following below-expected Q4 distributions, and SandRidge Mississippian Trust I (SDT -5.5%) and II (SDR -1.6%), as increasing risk meets additional production concerns. 10 Comments [Energy, Quick Ideas, On the Move]
Friday, February 1, 1:36 PM Energy trusts (SDT, PER, SDR) all take hits after announcing dividend and production cuts last night (I, II, III), and Raymond James does not pass "Go," downgrading the group to Sell from Buy. These new trusts are misunderstood, says one trader long the names. The wells are still getting drilled and there's going to be volatility in production volumes. They're cheap by any metric and - unlike MLPs - they're debt-free, having no need to issue debt (or shares) to replace depleting assets. 13 Comments [Energy, On the Move, Quick Ideas]
Tuesday, November 20, 2012, 3:17 PM Oppenheimer recommends using the pullback in SandRidge Permian Trust (PER -1.3%) as a buying opportunity based on confidence in Permian assets. PER has unduly suffered under unwanted headlines at the parent company (SD +0.7%) as an activist investor calls for the ouster of CEO Tom Ward. The firm is less comfortable with SandRidge Mississippian Trust (SDT -1.4%). 5 Comments [Energy, Quick Ideas]
Thursday, November 8, 2012, 4:52 PM More on SandRidge's (SD) Q3 results: Says it is exploring the sale of assets in the Permian Basin, other than those associated with SandRidge Permian Trust (PER), which produce ~24,500 boe/day. Proceeds would be used to fund SD's capital expense program in the Mississippian Play and to repay debt. SD +3.4% AH. Comment! [Energy, Earnings, On the Move]
Thursday, March 15, 2012, 9:04 AM Premarket gainers: ITMN +15%. NCT +9%. FRO +6%. MBI +5%. RVSN +5%. STM +4%. CREE +3%. FCEL +3%. HMC +3%. AMD +3%.
Losers: GES -11%. YONG -11%. VRA -5%. PER -5%. GBG -4%. Comment! [On the Move]
Tuesday, November 3, 2009, 12:05 AM Notable premarket earnings: ABC, ACOR, ADM, AMT, ANR, CAM, COL, CTSH, EMR, EXPD, FTR, GET, HCP, HNT, ICE, JOE, JRCC, LPX, MA, MHS, MRO, MVL, NXG, OSK, PER, PKD, PQ, RCL, RDC, RL, SNH, TE, TEVA, THC, TLM, VIA, VNO Comment!
Monday, September 21, 2009, 1:59 PM Dell's (DELL) purchase of Perot (PER) is a good stepping stone to overcome Dell's historically high reliance on PCs, JPMorgan says, but $3.9B - a 68% premium - is expensive. Dell's paying 1.4x sales, where H-P (HPQ) paid just 0.6x EDS' sales last year. "Perot's gross and operating margin profiles are a little more attractive than standalone EDS, but the valuation gap is still wide." Comment!
Monday, September 21, 2009, 9:00 AM Premarket gainers: PER +66%.
Losers: AIB -7%. IRE -6%. RAD -6%. MT -5%. S -5%. POT -5%. AUY -4%. SLW -4%. HL -4%. Q -4%. MOS -4%. AU -4%. Comment!
Monday, September 21, 2009, 7:20 AM Over the past year, Dell (DELL) and Perot Systems (PER) have produced a combined $16B in enterprise-hardware and IT-services revenue, with half of that coming from enhanced services and support. Comment!
Monday, September 21, 2009, 7:04 AM Dell (DELL) to acquire Perot Systems (PER) for $3.9B, or $30/share, creating a "comprehensive, customer-focused IT-solutions company." Perot will become Dell's services unit. Shares of Perot closed at $17.91 on Friday. (PR) Comment!

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