SPC

[Terliso]

BUSINESS SUMMARY   
Spectrum Brands, Inc., together with its subsidiaries, manufactures and markets consumer batteries, lawn and garden, pet supplies, electric shaving and grooming, household insect control, electric personal care, and portable lighting products worldwide. It also produces alkaline, zinc carbon, and hearing aid batteries, as well as aquariums and aquatic health supplies. The company designs and markets rechargeable batteries, battery-powered lighting products, electric shavers and accessories, grooming products, and hair care appliances. It provides lawn fertilizers, herbicides, insecticides and repellents, and specialty pet supplies. Spectrum Brands sells its products through retailers, wholesalers and distributors, hearing aid professionals, industrial distributors, and original equipment manufacturers. The company was founded in 1906 as The French Battery Company and changed its name to Rayovac Company in 1930. Further, it changed its name to Spectrum Brands, Inc. in 2005. Spectrum Brands is headquartered in Atlanta, Georgia.

[Terliso]

Spectrum Shares Slide on Refinancing
Monday March 12, 4:43 pm ET
Spectrum Brands Shares Fall on Higher Interest Refinancing Offer

NEW YORK (AP) -- News of a Spectrum Brands Inc. refinancing deal offering higher interest rates sent shares of the battery and consumer goods maker plummeting Monday.

Before the market opened, Spectrum announced it would begin an exchange offer to refinance $350 million of its 8.5 percent senior subordinated notes due Oct. 1, 2013. In the deal, Spectrum would exchange those notes for new 11 percent senior subordinated notes due Oct. 2, 2013. The interest rate will rise to 11.25 percent on April 1 and will increase semi-annually after that.


Once the refinancing is completed, any covenants associated with the previous agreement will be gone, the company said.

SunTrust Robinson Humphrey analyst William Chappell said although the higher interest rate will raise interest expenses by about $8.75 million, the loss of the covenants and restrictions "gives the company more flexibility to turn around its current businesses and negotiate divestitures."

Chappell also said in a note to investors that the refinancing may make it easier for the company to sell off its businesses. Spectrum has been trying to get rid of its lawn and garden business, but has said it is still in the process of working out a deal.

Although Chappell saw the refinancing deal as a long-term plus for the company, investors reacted to the announcement by driving down the share price. Shares fell 56 cents, or nearly 7 percent, to $7.65 by midday on the New York Stock Exchange.

Spectrum Brands makes Rayovac batteries, pet supplies, Remington shavers and insect control sprays.

Shares of Spectrum fell 95 cents, or 11.6 percent, to $7.26 on the New York Stock Exchange.

[nullzero]

Im short and in at 7.05

[Terliso]

Nice entry Nullzero.

[nullzero]

Thx, nice pick Terliso! Hehe I made a promise to myself to play more of your picks.

[REALDEALS21]

Null, you covered ?? By the way, here are some good looking SHORT charts too: TXCO, TACT, SABA, RBNC and XXIA

[nullzero]

No I didnt cover. I shorted my intial position at 7.05 and then added a second position averaging up on profit at 6.89. Im going to hold till low 6s or lower, with a conservative stop loss riding it down.

[Terliso]

No I didnt cover. I shorted my intial position at 7.05 and then added a second position averaging up on profit at 6.89. Im going to hold till low 6s or lower, with a conservative stop loss riding it down.

Check out AGIX also, Nullzero.

[nullzero]

No I didnt cover. I shorted my intial position at 7.05 and then added a second position averaging up on profit at 6.89. Im going to hold till low 6s or lower, with a conservative stop loss riding it down.

Check out AGIX also, Nullzero.

I tried shorting Terliso... scottrade had no shares able .

[nullzero]

$$$ for SPC short 

[nullzero]

Nice continued downtrend in SPC. Man saw the AGIX action today... I wish I could of gotten those shares short EXCELLENT SHORT PICK Terliso!