IBKR halted

Quote from OldTrader:

Ray,

You need to re-read the statement I posted. By the way, it's not a bank.

OldTrader
More...

Actually, I do not need to do anything. I am not a shareholder.

You are right. They are not a bank. That would concern me even more.
 
Do you have the facts to be concerned about. We are all ears.

Quote from RAY:

Actually, I do not need to do anything. I am not a shareholder.

You are right. They are not a bank. That would concern me even more.
More...
 
I know nothing. Just interjecting a thought that comes from experience.

Why do all this, if everything is all great?

I hope it trades at 30 today. Trying to be constructive; I should have know better.
 
Quote from OldTrader:

IBKR Interactive Brokers announces preliminary financial estimates for the quarter, sees Q3 EPS of $0.55-0.65 vs $0.47 First Call consensus; approves share repurchase program of up to 8 mln shares (20.42 -0.67) -Update-

Co expects income before income tax and minority interest to be between $325-375 mln and diluted EPS to be $0.55-0.65 (vs $0.47 bconsensus) for the quarter to end on September 30, 2008. Co believes that the impact of the recent significant market events have unduly depressed the price of the co's common stock, and the Board of Directors has therefore determined that a program of stock repurchases would be an opportunistic use of available funds. Co approves a share buyback program by its subsidiary IBG, authorizing it to repurchase up to 8 mln shares of the common stock. "Our strong financial profile and cash position provide us with the opportunity to repurchase our stock to return value to shareholders. The repurchase program reinforces our belief in the long-term value of our stock, which is being negatively affected by the current credit market environment. IBG LLC has more than $4 billion of equity capital and does not rely on outside liquidity to any meaningful extent and is therefore relatively unaffected by recent events." (stock is currently halted)
More...


8 mill share buyback is a big deal.

Average Volume (3 month)3: 1,065,650
Average Volume (10 day)3: 1,708,270
Shares Outstanding5: 40.60M
Float: 40.51M
% Held by Insiders1: 0.12%
% Held by Institutions1: 110.00%
Shares Short (as of 26-Aug-08)3: 8.00M
Short Ratio (as of 26-Aug-08)3: 14.5
Short % of Float (as of 26-Aug-08)3: 19.70%
Shares Short (prior month)3: 8.23M
 
Quote from jficquette:

8 mill share buyback is a big deal.
More...

yes it is. About half their capital. By the way, I don't expect this to open at 30 in this market. Still, it is favorable news, reaffirms their financial condition.

OldTrader
 
Quote from OldTrader:

yes it is. About half their capital. By the way, I don't expect this to open at 30 in this market. Still, it is favorable news, reaffirms their financial condition.

OldTrader
More...

it will open at 23-25
 
Quote from RAY:

I know nothing. Just interjecting a thought that comes from experience.

Why do all this, if everything is all great?

I hope it trades at 30 today. Trying to be constructive; I should have know better.
More...

Here's what Petterfy said:

The company believes that the impact of the recent significant market events have unduly depressed the price of the company's common stock, and the company's Board of Directors has therefore determined that a program of stock repurchases would be an opportunistic use of available funds.

Thomas Peterffy, Chairman and Chief Executive Officer, said, "Our strong financial profile and cash position provide us with the opportunity to repurchase our stock to return value to shareholders. The repurchase program reinforces our belief in the long-term value of our stock, which is being negatively affected by the current credit market environment. IBG LLC has more than $4 billion of equity capital and does not rely on outside liquidity to any meaningful extent and is therefore relatively unaffected by recent events."
 
You must log in or register to reply here.
Back
Top