Hi,
ACKHQ is a good candidate for double bottom...
Startegy :
buy at 1.580
first target at 1.90
second target at 2.25
stop loss at 1.490
ratio = 42 / 6 = 7...Very good
I need a little help with this one... thank you in advance. ;D
Cought my eye yesterday, as it surged over 100%. :o
Reason was, apparently, that Armstrong had filed a "chapter 11" and now is seeing a way to survive, in an orderly manner.
That's fine.
But what I don't understand is: If I buy ( and I did! ;) ) some ACKHQ now at 0.31 and everything turns out as the company wants and hope for, will my 0.31 run up and become $60.00 - $90.00 as it was 10 years ago??? Because if that's the case, I'll hurry up and sell the cat and get some more!
Here is yesterdays news:
August 15, 2006 - 12:05 PM EDT
Print Email Article Font Down Font Up Charts
close
Email this News Article
Your Name
Your Email
Friend's Name
Friend's Email
Receive Copy: yes
ACKHQ 0.32 0.03
Today 5d 1m 3m 1y 5y 10y
Court Confirms Armstrong Plan of Reorganization
Decision Approves Comprehensive Plan to Resolve Asbestos Liability and Paves Way for Company to Emerge from Chapter 11 During Fourth Quarter of 2006
LANCASTER, Pa., Aug. 15 /PRNewswire-FirstCall/ -- Armstrong World Industries, Inc. ('AWI'), a global leader in the design and manufacture of flooring, ceilings and cabinets, announced today that U.S. District Court Judge Eduardo Robreno issued a decision confirming AWI's 'Fourth Amended Plan of Reorganization, as Modified,' dated February 21, 2006 (the 'Plan'). The Company expects that a formal confirmation order will be entered by the District Court shortly. AWI currently expects to emerge from Chapter 11 in the fourth quarter of 2006.
'I am grateful for the support of our employees, customers, suppliers and other business partners during the reorganization process,' said Michael D. Lockhart, AWI's Chairman and Chief Executive Officer. 'Consistent with our purpose in seeking relief under Chapter 11, the Plan provides the Company with a binding resolution of its asbestos liability.'
Pursuant to the Plan, AWI will establish a trust in accordance with the provisions of section 524(g) of the U.S. Bankruptcy Code to satisfy all current and future asbestos personal injury claimants (the 'Trust'). AWI will fund the Trust by making a one-time contribution of a combination of cash, notes and common stock of the reorganized AWI. Based on the Plan's estimated value of the stock of reorganized AWI, the contribution to the Trust will have a value of approximately $1.8 billion. Those assets will be administered by the Trust's trustees and used to pay asbestos claims in accordance with the provisions of the Plan. Reorganized AWI will have no role or responsibility in the administration of the Trust. Pursuant to the Plan, all present and future asbestos personal injury claims must be asserted against the Trust, and all asbestos claimants will be permanently enjoined from pursuing their claims against reorganized AWI.
The Plan provides for unsecured creditors to receive pro rata distributions on account of their allowed claims through a combination of cash, notes and common stock of the reorganized AWI. Based on the Plan's estimated value of the stock of reorganized AWI, unsecured creditors are expected to receive distributions equal to approximately 59.5% of their allowed claims.
Current shareholders of AWI's parent company, Armstrong Holdings, Inc. ('AHI') (OTC Bulletin Board: ACKHQ), do not receive any distributions under the Plan. Following AWI's emergence, AHI is expected to dissolve.
For access to copies of the Plan, related exhibits and the Confirmation Order, please visit http://www.armstrongplan.com.
About Armstrong and Additional Information
Armstrong World Industries, Inc. is a global leader in the design and manufacture of floors, ceilings and cabinets. In 2005, Armstrong's net sales totaled nearly $4 billion. Based in Lancaster, PA, Armstrong operates 41 plants in 12 countries and has approximately 14,600 employees worldwide.
Additional information about Armstrong and the Chapter 11 reorganization is available on the Internet at http://www.armstrong.com and http://www.armstrongplan.com.
Forward-Looking Statement
These materials may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Such statements provide expectations or forecasts of future events. Our results could differ materially due to known and unknown risks and uncertainties, including: Armstrong World Industries, Inc.'s ('AWI') Chapter 11 case and its asbestos liabilities; lower construction activity reducing our market opportunities; availability and costs for raw materials and energy; risks related to our international trade and business; business combinations among competitors, suppliers and customers; the loss of business with key customers; and other factors disclosed in our recent reports on Forms 10-K, 10-Q and 8-K filed with the SEC. We undertake no obligation to update any forward-looking statement.
SOURCE Armstrong World Industries, Inc.
Source: PR Newswire (August 15, 2006 - 12:05 PM EDT)
News by QuoteMedia
www.quotemedia.com
Keep an eye on it today.
Has been trading from 0.153 - 0.227
As I write 0.216
I'm in at 0.20 a few minutes ago. >:D
Hey Cumilina,..,I too been watching this one for awhile...finally lost its Q.
Pulled a great move...keep eye on it for a possible continuation.
GLTA
Hi, Julia.
Can I call you "my penny-pal"? ;D
Unfortunately I took my eyes off of ACKH for a couple of days, and look what happened! >:(
I did sell the same day for a profit of apprx. 35%
I hope you are in, and enjoying the ride.
Hey Cumilina :)
Yes...u can definitely call me your penny pal :D
I am in...high as usual...i missed my buy pps again...took my eye off the ball this am as i was watchign too many stocks..i have to learn to focus better on a few stocks rather then like 50 at a time..lol
Still looks good to me so far.
Glad u made some on ACKH anyway...maybe keep an eye on it for a possible re entry.
glta and nice to hear ur comments again :)
thanks
julia
Ok...so we got some news after hours....maybe this will finally break it of this tight channel it was floating in.
And Q came off awhile ago...so just ACKH now.
Monday, February 26 2007 4:00 PM, EST
Armstrong Holdings, Inc. and Armstrong World Industries, Inc. Announce SettlementPR Newswire "US Press Releases "
LANCASTER, Pa., Feb. 26 /PRNewswire-FirstCall/ -- Armstrong Holdings, Inc. ("AHI," OTC Bulletin Board: ACKH.OB) and its former subsidiary, Armstrong World Industries, Inc. (NYSE: AWI), have reached a settlement on all inter- company claim and tax issues.
Assuming the settlement is approved by the court as discussed below, the settlement calls for AWI to pay AHI $20 million in cash, and gives AHI an allowed claim under AWI's confirmed Plan of Reorganization of $8.5 million (the AHI Claim). The settlement gives AWI the right to make all relevant tax elections and file all required tax returns on behalf of the Armstrong group of companies for all relevant tax periods during which the two companies were affiliated, and to receive and retain all related tax refunds. AHI would recover on the AHI Claim on the same basis as other unsecured creditors of AWI under the AWI Plan of Reorganization. The initial distribution in satisfaction of the $8.5 million AHI Claim would consist of approximately $2 million in cash plus approximately 98,690 shares of reorganized AWI.
The settlement is being submitted for approval by the U.S. Bankruptcy Court in Wilmington, Del., that presided over AWI's Chapter 11 case. Shareholders of AHI will be mailed a notice of the hearing, which is scheduled for April 2, 2007.
Contacts:
Investors: Beth Riley,
[email protected], 717.396.6354
Media: Meg Graham,
[email protected], 866.321.6677
Hi, Julia.
I read and re-read what you posted, and still don't understand.
Will they be pouring out money and stock to holders of the ACKH (former ACKHQ) - if so, you'll be filthy rich!!!!
If you're going to be filthy rich, send a ticket, and I'll come visit. ;D
If not, we'll just "cyber-hug". That's OK too.
Good luck to you.
Sounds like that might be the case Cumulina...it all sounds good anyway..lol.
If i become filty rich....u r definitely getting a ticket to come visit ;D...and cyber-hugs are always free and welcome anytime :D
So...just going to see what happens...not sure if the pps will will move soon or closer to April..hopefully it moves up though...lol
take care!
and keep ur eye on it just in case it does do somethign pretty.
julia
Great! Good for you, Julia.
Don't stray too far from your computer today, though...The stockmarkets are pulling the red, ugly blanket over all the stockmarkets today.
US down yeaserday, China down big time today - about 9% down - and Europe is also looking red all over. Afraid this could be nasty.
Hugs!
Holy crap! So far holding the major gap! ;D
glta
thanks for the heads up Cumulina! Probably wont trade too much today if at all.
julia
Symbol Change>ACKHQ>Is Now> ACKH.OB> Threads have been Merged.
Please use the search before starting new threads on a Stock Pick.
Chances are a thread already exist.
So why not post whatever you have to comment about on that pick to that thread.
"Simplicity" My fellow traders. ;D
All history on a stock pick in 1 thread is awesome. ;)
Just trying to get threads together,so we don't have a numerous amount floating around on the same stock. :(
Thank You....and good luck with all your trades....make some $$$ ;)
Here is today's chart while I'm in this thread.......
Congratulations, Julia!!!
+85% :D ;D >:D ;D :D
Hope to see you soon!
:D
Lol Cumulina....I hope this continues...held up amazingly well today.
glta
julia
(ACKH.OB).......
GIVES TIMETABLE FOR DISSOLUTION: Armstrong Holdings, Inc. (ACKH) announced its
timetable for dissolution including distribution of net assets to shareholders. December 5, 2007
will be the last day of trading in ACKH common stock. The Company's net assets for distribution
total approximately $28 million, which will be divided pro-rata per share among the holders of
the 40,551,975 outstanding shares of ACKH common stock. This amounts to a distribution of
approximately $0.69 per share. Shareholders should consult their tax advisor on the tax implications
of this distribution.
• Armstrong Holdings to Dissolve After Distributing Assets to Shareholders on December 12, 2007