3SOF

Profile: Chiquita Brands International, Inc. and its subsidiaries engage in the distribution and marketing of bananas and fresh produce under the Chiquita and other brand names worldwide. The company operates in three segments: Bananas, Salads and Healthy Snacks, and Other Produce. The Banana segment sources, transports, markets, and distributes bananas to retailers and wholesalers, and chain stores. It also engages in the cultivation and production of bananas. The Salads and Healthy Snacks segment offers value-added salads under the Fresh Express and other labels; and fresh vegetable and fruit ingredients used in foodservice, healthy snacks, and processed fruit ingredient products.
Website: http://www.chiquita.com
Market Cap: $665M

Technicals:
CQB has a strong long term support approximately at $12.75, this support was tested 5 times over the past 2 years, generating strong upside moves afterwards. In July and after a big (and quick) drop from $26, CQB tested once again this support, and once again it generated a strong rebound action. Right now CQB seems to have finish a first downswing after this rebound, and broke out the mid term descending resistance, but its still relative near to the support area (taking in consideration recent month's volatility).

Fundamentals:
The big drop from $26 to $12.5 during June/July was motivated by a profit warning related to Q3 and essentially motivated by the cost of fuel and fertilizers, so the market is already discounting this bad news, and probably in an exaggerated way (Crude prices were at the highs during June/July).
Current consensus from 7 research departments still shows an 08FY EPS estimate of 1.56 even with this profit warning and 1.66 for 09FY, so CQB is trading at just 9 times earnings (09FY) while its peers trade at a 22 multiple.

Trading Idea:
This trade is motivated by technical and fundamental analysis, the TA still shows a Bearmarket in place with the 50-ema below the 200-ema, but in the other hand there are several signs of reversal, especially the reaction on the supports and the recent breakout.
I'm not sure about the stop level to apply yet, a modest target could be something like 17.50, but we'll develop this details over the next updates, the trading plan for now is:

Trading Plan:
Buy CQB today at or near the open

Update:
Friday's session was kind of volatile for CQB, but the overall behavior was positive with CQB closing near the high of the day and printing a hammer candle. Nothing changed from a TA point of view.
We're not setting a stop level yet, so the trading plan is:

Trading Plan:
Hold CQB

Update:

Interesting session for CQB, breaking out the short term resistance level at $15.20

Trading Plan:
Hold CQB

Update:

CQB is holding this market turmoil quite well, even so we must add a stop level to this position for precaution, the new trading plan is:

Trading Plan:
Hold CQB with a stop @ 14.35

Update:

CQB reached my estimated target (17.50) last friday during the the general market rally, I was not expecting it to get there so soon, and now it may have to consolidate this move while the market remains turbulent.


Trading Plan:
SELL CQB this morning.

Update:

We sold CQB @ $17 a few days ago, mainly because we wanted to lock this profit during a turbulente market period and also because we were expecting some price consolidation after this quick move up.
Although, the initial fundamental and technical case remains there, and we want to explore it, so we're setting a standby trading plan to buy CQB if it tests prices near the short term support.

Standby Trading Plan:
Buy CQB around $15.50

** Just Bought CQB @ $15.29 for the Diversified Portfolio. **

Update:

We managed to buy CQB again near the support, and the stock reacted positively so far.  With the current market volatility, we're selling it near the resistance, so the trading plan is:


Trading Plan:
SELL CQB around $17

any official 3SoF update???

CQB: Short Interest UP 4.6% to 7.7M in Mid Oct 2008
Friday , October 24, 2008 16:31ET

According to new short interest data from NYSE, short interest for Chiquita Brands International, Incorporated (NYSE: CQB) INCREASED 4.6% to 7,742,115 shares as reported in mid-October, 2008. Based on CQB's 20-day average daily share volume of 714,245, it would require approximately 11 day(s) of buying to cover this short interest.

&

Chiquita to Report Third Quarter 2008 Financial Results on Oct. 30, 2008
Thursday , October 16, 2008 18:02ET

CINCINNATI, Oct 16, 2008 (PR Newswire Europe via COMTEX) -- Chiquita Brands International, Inc. (NYSE: CQB) will release third quarter financial results on Oct. 30, 2008, after the market closes and will host a conference call at 4:30 p.m. EDT that day.

To listen to the audio webcast of the conference call, please use the link on Chiquita's home page ( www.chiquita.com ) or from the StreetEvents network ( www.streetevents.com ). For telephone access, dial 1-888-221-9576 or +1-913-312-0828.

A replay of the call will be available until Nov. 13. To access, dial 1-888-203-1112 or +1-719-457-0820 and provide the confirmation code 4731541. A transcript of the conference call will be posted to www.chiquita.com as soon as possible after Oct. 30, and will be available from the company's web site for 12 months.

updated chart look...

One of the 4 stocks presently active in this portfolio.

Updated chart look...

Friday, May 1, 2009
Chiquita up in profits, down in sales for 1QBusiness Courier of Cincinnati


Chiquita Brands International's net sales fell 10 percent, but it reversed a fourth-quarter loss and beat Wall Street's earnings forecast in the process.

The results sent Chiquita's stock (NYSE: CQB) up more than 20 percent, or $1.54, to $9.11 in Friday morning trading.

The company posted first-quarter net income of $23 million, or 51 cents per share, compared to $31 million, or 72 cents per share, in the year-ago quarter. In fourth-quarter 2008, it had a net loss of $412 million, or $9.28 per share.

Net sales fell to $842 million from $935 million in the year-ago quarter. Analysts, on average, had expected $910.4 million in sales, and 28 cents per share in earnings.

"Our first quarter was strong, especially considering the challenges we faced from currency and temporary flood-related costs," said Fernando Aguirre, chairman and CEO, in the release.

Net sales for the banana segment fell 8 percent to $485 million year over year, while operating income dropped to $40 million from $61 million. Flooding in banana-growing areas of Panama and Costa Rica contributed to the decline.

The salads and healthy snacks segment saw net sales fall 16 percent to $281 million, while operating income grew to $13 million, versus $4 million in first-quarter 2008. The other produce segment had net sales of $75 million, up from $73 million the year before, and operating income fell to $2 million from $3 million.

Chiquita (NYSE: CQB), headquartered in Cincinnati, is a marketer and distributor of fresh and packaged produce in Europe and North America.