SFCC

[cumulina]

It is quite exciting what is going to happen to SFCC in the future.

Interesting numbers:

Outstanding Shares 18,446,864
Float 17,100,000
% Held by Institutions 82.50 %

Short % of Float 73.88 %

Short % Increase 419.73 %

http://www.shortsqueeze.com/index.php?PHPSESSID=ca5f40efa9d6ec6b44cabccc498d90aa&symbol=sfcc

The company is not giving up without a fight, and hopefully their strategy works.

So far SFCC is up 17%+ from when I bought it at $14.02.

I'm keeping a VERY close eye on it, in case Bloomberg or somebody else decides to throw a bomb at it.

[cumulina]

News out today:

http://biz.yahoo.com/bw/060103/20060103005222.html?.v=1

Stock is up more than 8.62% before open, and it looks and sounds like THIS is going to be a day to remember!

It looks like the advice on strategy for the company might work.

I'm happy to be long in this, since 14.02 (That's 21.66% ago!  )

[cumulina]

Below is a pretty picture of 18%!

Apparently this is what a stock will do when:

1) You lower expectations,
2) Fire the director, and...
3) Get 6 different Class Action Lawsuits - all in the same day.

Go figure?

[calven]

Seems weird to me cumulina. However I started thinking about it a bit more. Actually what happened is that all the negative news; lawsuits, lowered expectations etc were priced in. Weak hands cleared out and new buyers came in. Today's news of the director firing was actually a positive. It represents a new direction of the company....hopefully...

Personally I dont buy this bottom being a long term bottom. I will wait for one more downwave before I get interested again. I think today's action is a trap for longs.


cal 

[brandyjoco]

YIKES!  SFCC doesn't stop going up.  I have bought & sold and wish I just would have sat tight....

They fired their mgmt and it looks likes it may keep going up.  A stock that did a siimiar thing was CNC.

[1reilly]

I'm moving my stop up to 18.89 tonight. Looks like this beauty wants to test that 22-23 level. Glad to have had this one along with HOM and SMDI today.

[1reilly]

Hit my stop this morning. I'll watch for re-entry.

[cumulina]

I also got "stopped-out" at 18.73. 

Shall not complain about the gain, though. 

I'll wait and see if I can get back in next week...lots of nervous traders in this one.

[la-onda]

SFBC International Granted Waivers for Credit Facility
Wednesday, March 29, 2006 07:30 ET

PRINCETON, N.J., Mar 29, 2006 (BUSINESS WIRE) -- SFBC International, Inc. (NASDAQ:SFCC), a provider of drug development services to branded pharmaceutical, biotechnology and generic drug companies, today announced that it has entered into an agreement with its lenders, which waives all of the Company's defaults related to covenants and certain other terms under its existing Senior Secured Credit Facility ("Credit Facility"). SFBC obtained waivers for these defaults to facilitate the timely filing of the Company's Form 10-K for the period ended December 31, 2005 within the extended deadline of March 31, 2006.

Following the filing of its Form 10-K, SFBC expects to continue discussions with its lenders to amend the terms of the Credit Facility to match the Company's current forecasts, growth strategy and capital requirements. Until the Credit Facility is amended, SFBC has agreed with its lenders not to draw down any additional funds from its Credit Facility. As of December 31, 2005 and March 29, 2006, SFBC had $17 million drawn upon this $90 million Credit Facility. As of March 21, 2006, SFBC had approximately $44 million in cash, cash equivalents and marketable securities.

Jeffrey P. McMullen, chief executive officer of SFBC International, stated, "Based on our current business outlook, we anticipate that we will generate significant cash flow from operations in 2006 and that we have adequate liquidity to fund our working capital requirements while we amend the Credit Facility. With our cash position and outlook for positive cash flow from operations in 2006, we determined the best course of action was to obtain waivers from our lenders, allowing additional time to negotiate Credit Facility covenants and terms, which more appropriately match our current business objectives. We intend to continue taking appropriate actions to preserve and enhance long-term shareholder value and maintain flexibility."

The covenant defaults and the waiver of the covenant defaults for the Credit Facility do not have an effect on the Company's agreement with holders of its 2.25% Convertible Senior Notes, due 2024.



price target: 27$
please check
http://www.knobias.com/research.pdf?id=4123

short update:

SFCC: Short Interest UP 4.6% to 15.8M in Mar 2006
Friday , March 24, 2006 16:21 ET

According to new short interest data from NASDAQ, short interest for SFBC International, Incorporated (NasdaqNM: SFCC) INCREASED 4.6% to 15,769,625 shares for the month ended mid-March, 2006.

SYMBOL     FEBRUARY           MARCH          CHANGE       %CHANGE      DAYS/COVER
--------   -------------   -------------   -------------  ------------  ----------
SFCC          15,075,227      15,769,625        +694,398        +4.61%          10

Based on SFCC's 20-day average daily share volume of 1,591,090, it would require approximately 10 day(s) of buying to cover this short interest.

chart:

[cumulina]

Picture of a short-squeeze?

Last I checked more than 50% of SFCC was shorted!

News out today, and it looks like the stock is going in orbit! 

(Chart if from approx. 11:25 today)

[cumulina]

Time for an update:

Tickersymbol changed from SFCC to PDGI

Change in management etc. etc.

And it looks like it is beginning to get some attention from the short-sellers. 

I'll post some charts...