Friday, May 21, 2010

SkillSoft Closing Soon

SkillSoft plc (Ticker: SKIL) is pretty much a done deal at this point and is scheduled to close on Wednesday, May 26th. On Thursday, the Irish court gave the final approval and today SSI Investments sold $310 million in notes to fund the deal. I couldn’t believe how the spread did not narrow over this past week. I’ll end up making 1% over a 3 week period (~ 17% annualized return). I’ll take it even though it’s just small change...

Thursday, May 20, 2010

Stinky and Hefty

Stinky, Stinky, Stinky, Hefty, Hefty, Hefty… as the Hefty commercial goes. I got rid of Fidelity National Information (Ticker: FIS) yesterday at ~ $27.24 generating a loss of 11% on the new FIS position. Overall, the net loss for the FIS position is 4.71% if I include the initial gain. Yeah, so this was the stinky part of the trade. I picked up some Pactiv (Ticker: PTV), which owns the Hefty trash bags. This is working out so far and the odds are good for a decent bid for the company. There’s a leveraged buyout on the table and two strategic buyers eyeing the company. Time will tell…

Friday, May 14, 2010

More Fidelity National Information Services

What the heck… I picked up a few more shares of Fidelity National Information Services (Ticker: FIS) near the close today at ~ $29.65. We’ll see if a bid materializes over this weekend.

Tuesday, May 11, 2010

Sold Fidelity National Information Services

I just sold my position in Fidelity National Information Services, Inc (Ticker: FIS) at $28.89. Something just doesn’t feel right with the end of day sell off on some good volume. I purchased the shares on 5/7 at an average price of $28.66 netting a 0.80% gain over a 4 day period.

Argon ST Again

I’m back in Argon ST (Ticker: STST), a defense contractor, who placed itself up for sale in the beginning of the year. It looks like they finally started the auction process according to a recent Reuters report. The report stated that Boeing (Ticker: BA), BAE and Raytheon (Ticker: RTN) are currently conducting their due diligence. I picked up a few shares today at ~ $24.50 this morning.

Friday, May 07, 2010

Same Old Down Day

I don’t know if I should be happy or upset… My non retirement portfolio declined 0.67% today, while the DOW was -1.34%, NASDAQ -2.33% and the S&P 500 -1.53%. I’m out performing the market, but in a negative way. I’m not satisfied with this result. I simply hate losing any amount of $$$. I picked up a few shares of Fidelity National Information Services (Ticker: FIS) today as special situations play. A deal is brewing with several private equity players eyeing the company. We should hear very soon if a deal is inked.

Thursday, May 06, 2010

Market Crash or Correction?

Damn… What just happened??? The DOW was down over 900 points at one point and closed down just 348 points (down 3.20%). I was loading up for some buys, but my fingers wasn't quick enough. My non retirement portfolio was down 1.92% today. Ouch…

Wednesday, May 05, 2010

InterMune Mistako and Some SkillSoft PLC

I had to clear my mind of the InterMune (Ticker: ITMN) trade yesterday, which was executed poorly. I went in with a tiny position in InterMune with the goal of making some quick $$$. I did not evaluate the downside risk at all. I was on a roll on my trades and thought this was another easy $$$. I only had one losing trade this year so how can I go wrong??? Well, the FDA gave the thumbs down and the stock tumbled 80%. Fortunately, I was not that greedy and initiated only a small position, but I’m sure some people were wiped out from this trade. I’ve learned a lot from this small mistake…

Ok, now back to business and back to basics. I picked up a bunch of SkillSoft PLC (Ticker: SKIL) today at $11.15. If you remember, I played this one a few months back and didn’t quite work out as expected. Now, it’s a different ball game. Everything is settling down towards a closing on May 24. I’m looking at a 0.90% return over a 2.5 week period (17% annualized) based on a closing price of $11.25. I view this as a very low risk trade…