Up today after making double bottom yesterday - maybe only a dead cat bounce but worth looking at sa they have had very nice runs in the past. - here is long term chart
(http://xs46.xs.to/pics/05375/1409oneiob.jpg)
Metro,
I don't perceive this to be a double bottom.
In the case of the double bottom, a significant downtrend of several months should be in place.
The first trough should mark the lowest point of the current trend.
In ONEI's case there was an uptrend before what you point out as the first trough.
Further to make it a true double bottom, there should be clear evidence that volume and buying pressure are accelerating during the advance off of the second trough and result in an accelerated ascent. In this case that is not showing yet.
I do agree that it has potential now to go up to about $ 3,-, which is still a great trip ::)
Will put it on my watchlist for tomorrow :)
Amarens
Amarens -
Well yes I use the term loosely as there are many ways to interpret a term. You got the point anyway. It was at $1.74 and dropped to find support at $1.15 a year and a half ago then went up to over $3 and then back to $1.15 and bounced. It may not be every person's definition of a double bottom but it generally fits the same. The term is not so important as the chart and the possible opportunity. Lets say it is double bottom-ish ;)
It ran into 9-day resistance and the next resistance may be at trend line as shown
(http://xs46.xs.to/pics/05375/1409oneist.jpg)
No problem. Also just for people who want to learn. And I'm one of them :)
Curious to hear if you are in?
Amarens
Yes I bought yesterday as the volume was so high and I remembered when it doubled last year and I could not figure out why a silverware company was doubling on no news. With stocks that run up on no news I take some profits soon then trade in and out so limit losses or almost eliminate them.
it added another 14% today but volume only 4X and trend line close so may now have problems gong much higher before some consolidating.
Looks like it is time to check in on this one.
May be wanting to do a reverse in the trend.
Support @ 0.74...0.65...0.56
Resistance @ $1.00...1.17...1.40
Recent CandleStick Analysis
Bullish
Dec-21-2005 Bullish Engulfing
Technicals
Percentage Gainer
Last Price Quote is:
27.12%above 13-day EMA
35.83%above 50-day EMA
wow whatrs up with tihs is it a buy?
Hi
ONEI ???
Oneida Announces Comprehensive Prenegotiated Recapitalization
Thursday March 9, 6:00 pm ET
Tranche B Lenders Agree to Convert 100% of Their Debt to Equity; Oneida Obtains Commitment For $170 Million in Long-Term Financing; Operations Continue as Usual
ONEIDA, N.Y., March 9, 2006 (PRIMEZONE) -- Oneida Ltd. (OTC BB:ONEI.OB - News), a global leader in flatware, dinnerware and crystal for both the consumer and foodservice markets, today announced that it has reached an agreement with its lenders on a recapitalization plan that would reduce the company's debt by approximately $100 million and open the way for investment, innovation and growth.
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Terry G. Westbrook, President and CEO of Oneida, said: ``I am pleased that we have been able to reach agreement on a comprehensive recapitalization plan that substantially reduces debt and increases our liquidity. This has been one of our principal goals since we completed the transformation of Oneida's business. We've successfully moved from a manufacturing-based business model to one built on sourcing, distribution and marketing. As a result, our cash flow, operating profit and margins have seen steady improvement, but we are still burdened by an unmanageable debt load.''
``The recapitalization now underway is intended to improve our capital structure, which in turn will facilitate our continued progress and growth,'' Westbrook continued. ``Oneida is one of the most widely recognized brands in the marketplace, and we are eager to build on its strength.''
``I am particularly gratified that we can undertake this process in a manner that minimizes any impact on our employees, customers, suppliers and business partners, who are so critical to our success,'' Westbrook added.
The recapitalization plan marks a further milestone in Oneida's progress since a new Board of Directors and management team were assembled 16 months ago. Under their leadership, the company has achieved several significant accomplishments, including:
-- Appointment of a new Chief Executive Officer, Executive Vice
President of Worldwide Sales and Marketing and Chief Financial
Officer, as well as the appointment of experienced executives to
key leadership positions in sales, marketing, finance and
information technology;
-- Reductions in operating, product and administrative costs;
-- Creation of a global procurement team to manage Oneida's
extensive network of contract manufacturers in Asia;
-- Operational integration of the company's various product lines in
order to leverage Oneida's strengths in brand, design and global
procurement;
-- Opening a west coast distribution center to improve supply-chain
efficiency and customer service; and
-- Development of a strategic marketing plan to drive growth in the
company's consumer and food service franchises.
Recapitalization Plan Receives Lender Support
Financial institutions representing 100% of the company's outstanding Tranche B debt and 94% of the company's outstanding Tranche A debt have agreed to the recapitalization plan and entered into a Plan Support Agreement. Pursuant to the terms of the Agreement, the company intends to file a voluntary petition for a prenegotiated reorganization under Chapter 11 of the U.S. Bankruptcy Code. The filing is expected to take place on or about March 20, 2006.
A ``prenegotiated'' Chapter 11 petition means that a company will have finalized its plan of reorganization prior to filing with the court and received the requisite support for confirmation. This process is designed to be faster and more efficient than a traditional Chapter 11 filing. The Chapter 11 proceeding for Oneida should have no impact on its business operations, and Oneida expects to exit Chapter 11 approximately 90 days after commencement of its case.
Upon confirmation of the plan, all of the common stock of the company would be issued to the holders of Oneida's Tranche B debt. The company's $115 million Tranche A term loan would be refinanced with a long-term revolving credit and term loan facility from Credit Suisse. All of Oneida's existing common and preferred stock will be cancelled and receive no recovery. Accordingly, the company believes that Oneida's currently outstanding preferred and common stock has no value.
``Oneida's legacy debt burden left us no choice but to take this step. We regret the impact this action will have on our shareholders,'' Westbrook noted.
Vendor Payments and Customer Service
Oneida will continue operations without interruption during the recapitalization process. The company's working capital and liquidity positions remain strong and are expected to remain so during the brief reorganization process. The recapitalization plan only addresses the company's capital structure and certain legacy liabilities; therefore, it should have no material impact on its relationships with customers, suppliers, business partners or employees. During the pendency of the proceeding, the company will continue to pay suppliers for the delivery of goods and services on current terms, employee pay and benefits will continue as usual, and new product development and customer support will not be affected.
Only Oneida Ltd. and certain of its U.S. affiliates will be the subject of the Chapter 11 filing. It is expected that the company's non-U.S. affiliates will not be included in the Chapter 11 filing or be the subject of a foreign insolvency proceeding, and Oneida expects that the operations of its non-U.S. businesses will not be affected in any material way by virtue of Oneida's Chapter 11 filing.
Interim and Long-Term Financing in Place
In order to fund its day-to-day business operations during the pendency of the Chapter 11 proceeding, the company has obtained commitments from a lending syndicate led by JP Morgan Chase Bank, N.A. to provide up to $40 million of revolving credit financing. This financing, which will add to the company's current liquidity, is subject to certain closing conditions and to bankruptcy court approval.
In addition, upon confirmation of the recapitalization plan, a lending group led by Credit Suisse has agreed to provide up to $170 million of long-term financing, which will be composed of an $80 million asset-based 5-year revolving credit facility and a $90 million, 6-year term loan. The exit financing also is subject to certain closing conditions, including bankruptcy court approval.
About Oneida
Wow This Stock looks very nice.
Close day high??
and than gap up tomorrow...
Did the reades of the pr from 9.3. read it wrong?!
::)
2 new researches!!
http://reports.finance.yahoo.com/w0?r=34410118:1
and
http://reports.finance.yahoo.com/w0?r=27254423:1
Why they reseach tihs company ?! because this company is shit?!
No
Any thoughts on the price target?
Realtime 0,115 und it run!!
Read the news from Friday and than the downmove!!
When you read it you see that the drop down is not correct because the chapter 11 were out....
And in this messnage they thank about payback the loan und on goning concern!!!
hey wax i bought some on this nice retracement...i am in at 0.087....
Quote from: ket1390 on March 15, 2006, 12:23:43 PM
hey wax i bought some on this nice retracement...i am in at 0.087....
Hey,
Good Entry but keep care the move from 0,03 to 0,19 were an MM play. The Gap is filled.
On news this can run but eithout news the mm will slide it down.
am I missing something??
QuoteAll of Oneida's existing common and preferred stock will be cancelled and receive no recovery. Accordingly, the company believes that Oneida's currently outstanding preferred and common stock has no value.
Isn't this frenzied selling an attempt to unload stock now deemed worthless; like the UALAQ scenario at the end of '05?
I realize it says, "NOOB" next to my login - for a reason, so if anyone wants to offer education I am a sponge :-)
Thanks, Bo
This stock has been mvoing lately. THis am news came out, caused a pop again...and then a pullback. Typical sell the news, lets see where this goes, once the news sinks in.
ONEIDA, N.Y., July 14 /PRNewswire-FirstCall/ -- Oneida Ltd.
(Pink Sheets: ONEI) today announced that it has signed a Letter of Intent to
be acquired by an entity to be formed by D. E. Shaw Laminar Portfolios, L.L.C.
("Laminar") and Xerion Capital Partners LLC ("Xerion" and with Laminar the
"Buyers"), both current Oneida shareholders.
Under the terms of the proposed transaction, Laminar and Xerion will pay
at least $222.5 million, or an amount sufficient to pay in full the company's
secured bank claims plus, among other things, the payment or assumption of all
other general unsecured claims. In addition, the Buyers will include an
element of consideration for the company's common equity holders in connection
with securing their approval of the proposed transaction.
"The proposed agreement with Laminar and Xerion represents a very
favorable outcome for Oneida and its stakeholders, including creditors,
shareholders, employees, vendors and our valued customers," said Christopher
H. Smith, Chairman of Oneida Ltd. "The possible investment by these two
widely respected firms acknowledges the substantial progress Oneida has made
in transforming its business, which began more than 18 months ago. These
firms have had an opportunity to see our operations first-hand as
shareholders, and we are pleased that they support Oneida's plan of
reorganization. Importantly, their investment would bring stability and a
long-term perspective to Oneida's shareholder base."
"This transaction would set the table for Oneida's growth," said James E.
Joseph, President of Oneida. "As an 18-year veteran of Oneida, I am proud of
what our people have achieved over the past 18 months, and I am truly excited
about our future. We are prepared, as I believe few in our industry are, to
meet our challenges, strengthen our business and provide exceptional service
to customers."
It is currently anticipated that the proposed transaction would be in the
form of an offer to purchase 100% of the equity interest of Oneida through a
plan funding agreement. Execution of a definitive agreement is subject to,
among other things, confirming due diligence by the Buyers, standard
regulatory approvals and other conditions, including confirmation of Oneida's
plan of reorganization by the Bankruptcy Court. Should Oneida and the Buyers
fail to reach a definitive agreement, Oneida would move forward to complete
its original recapitalization plan, which is supported by its lenders, in a
timely manner.
So...this stock tanked after the latest pr which states plans of emerging from chapter 11 ??? Plans to emerge from Chapter 11 is Sept 12th.
I picked up a few shares today with anticipation of seeing a nice bounce next week or sometime in the short term. I hope i'm right :)
Thursday, August 31 2006 8:01 AM, EST
Oneida Reorganization Plan is Confirmed
ONEIDA, N.Y., Aug. 31, 2006 (PRIMEZONE) -- Oneida Ltd. (Pink Sheets:ONEI) today announced that its prenegotiated plan of reorganization was confirmed by the U.S. Bankruptcy Court for the Southern District of New York, setting the stage for Oneida's emergence from Chapter 11 as a privately-held company. The Plan will significantly reduce the company's debt and open the way for renewed investment and growth. The company is expected to emerge from Chapter 11 on or about September 12, 2006.
"We are extremely pleased that the Court has approved our recapitalization," said James E. Joseph, President of Oneida. "We are grateful to our customers, suppliers, partners and employees for their commitment during this process. The successful recapitalization is the culmination of a revitalization process we began more than 18 months ago and marks a new beginning for Oneida. We are looking forward to building on our strong brand and outstanding customer relationships to continue Oneida's growth into its second century."
Oneida's plan of reorganization provides for the conversion of 100% of its Tranche B loan, representing approximately $100 million, into 100% of the equity of the newly reorganized company. The plan also includes $170 million in senior secured long-term credit facilities, consisting of an $80 million asset based revolving credit facility and a $90 million term loan that will refinance Oneida's Tranche A debt and provide the company with additional liquidity to continue to grow its business. Oneida's general unsecured creditors will not be impaired under the plan; however, existing common and preferred stockholders will not receive any distributions under the plan and their equity will be cancelled on the effective date of the plan.
Oneida Ltd. and certain of its U.S. subsidiaries filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code on March 19, 2006. In connection with these proceedings, Oneida was represented by Shearman & Sterling LLP as legal advisor and by Credit Suisse as financial advisor.
About Oneida
Incorporated in 1880, Oneida Ltd. is one of the world's largest design, sourcing and distribution companies for stainless steel and silverplated flatware for both the consumer and foodservice industries. It is also the largest supplier of dinnerware to the foodservice industry in North America. Additional information about Oneida can be found at http://www.oneida.com/news/08-31-2006.
whats whith this one..
I guess it finally found its bottom and did a nice little move today...will the saga continue in a positive direction? Perhaps, as the pr above states:
"The Plan will significantly reduce the company's debt and open the way for renewed investment and growth. The company is expected to emerge from Chapter 11 on or about September 12, 2006."
But isn't the news also that they will delute. I'm sick of this one to. Happy I only do small amonts in OTCB, but still. Notice too late it went down. Not very smart moves on this one from my part :-[ :-[
OTCB stocks are hard for me b/c my broker does not allow me stops. But I must say I've also been happy in the past not having a stop b/c I would have been stopped out and miss the big move right after.
We'll see where ONEI goes now ??? ??? ???
Amarens