Independent Stock Market News
Following a disasterous UK court surrender to peace activists in April and reports of first quarter loss of millions due to related legal costs, EDO Corp today traded at their lowest price in the last year ($25.24) Nervous markets concerned about a possible interest rate rise and news of planned US withdrawal from Iraq have led to lack of interest in the beseiged arms company that has heavily invested in ongoing military operations in Iraq.
Following a disasterous UK court surrender to peace activists in April and reports of first quarter loss of millions due to related legal costs, EDO Corp today traded at their lowest price in the last year ($25.24) Nervous markets concerned about a possible interest rate rise and news of planned US withdrawal from Iraq have led to lack of interest in the beseiged arms company that has heavily invested in ongoing military operations in Iraq.
The combined effect of bad management of their 'protest problem' in the UK, with fears of an expected 'second wave' of robust anti-war activism in both UK and US sites as the Iran confrontation increases could lead the ailing US company to sell off its UK subsidiary EDO (UK) in Brighton where the troubles began.
EDO have relied for confidence in their future growth on sales in the Warlock IED counter measure system but these have not come forward as DoD considers troop withdrawal as the best defence.
News of the Gaza 'beach massacre' also most likelyeffected share price on speculation that Israeli navy Saar 5 vessel with EDO tagetting equipment may have been involved, implicating EDO Corp directors in possible future war crimes prosecution as aiders and abettors unless they end supplies and support for Israeli military.
Institutaional investors such as CCM and Fidelity are likely to see EDO as a greater risk than ever now that anti-war/ president Bush sentiments have risen to all time high in US.
Close links between EDO Corp board and US military industrial complex through think tanks such as The Cohen Group are likely to be a burden rather than an asset from now on. Even sole contracts for the new F35 bomb release equipment will be unstable with risk of pontential protester infiltrators within the UK company that could prove a security threat to the secrecy of the US source code now after in official UK hands.
Overall EDO have drawn so much attention to themselves with their illegal attempt to ban protests in Brighton that hackers and even more zealous political interests are more than likely lining up to bring them down. Most financial experts have so far recommended holding onto EDO shares but the latest news will no doubt lead to
further changes of mind.
This analyst recommends strong sell of EDO as not worth the risk in the long term.Ethical investment in future post-peak-oil technologies and alternative energy resources seem a better and more sustainable bet, as oil focussed warmongering has side effects of possible nuclear destruction of all life-and business-on earth.
EDO have relied for confidence in their future growth on sales in the Warlock IED counter measure system but these have not come forward as DoD considers troop withdrawal as the best defence.
News of the Gaza 'beach massacre' also most likelyeffected share price on speculation that Israeli navy Saar 5 vessel with EDO tagetting equipment may have been involved, implicating EDO Corp directors in possible future war crimes prosecution as aiders and abettors unless they end supplies and support for Israeli military.
Institutaional investors such as CCM and Fidelity are likely to see EDO as a greater risk than ever now that anti-war/ president Bush sentiments have risen to all time high in US.
Close links between EDO Corp board and US military industrial complex through think tanks such as The Cohen Group are likely to be a burden rather than an asset from now on. Even sole contracts for the new F35 bomb release equipment will be unstable with risk of pontential protester infiltrators within the UK company that could prove a security threat to the secrecy of the US source code now after in official UK hands.
Overall EDO have drawn so much attention to themselves with their illegal attempt to ban protests in Brighton that hackers and even more zealous political interests are more than likely lining up to bring them down. Most financial experts have so far recommended holding onto EDO shares but the latest news will no doubt lead to
further changes of mind.
This analyst recommends strong sell of EDO as not worth the risk in the long term.Ethical investment in future post-peak-oil technologies and alternative energy resources seem a better and more sustainable bet, as oil focussed warmongering has side effects of possible nuclear destruction of all life-and business-on earth.
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Doubled in 3 years
14.06.2006 10:35
broker
Forbes Magazine tells readers to sell EDO shares.
19.06.2006 01:17
This report from last month has not even taken into account further drops in EDOs price.
a
EDO sinks deeper
20.06.2006 18:02
EDO is dropping fast.
RECENT EVENTS
Date Event
14-Jun-06 Price hit new 52-week low ($24.32)
13-Jun-06 Price hit new 52-week low ($24.93)
12-Jun-06 Price hit new 52-week low ($25.24)
dod
more bad news for EDO - they deserve it.
21.06.2006 17:34
EDO (EDO) :
Cuts to 2 STARS (sell) from 3 STARS (hold)
Analyst: Richard Tortoriello S&P
We are concerned that uncertainty regarding orders for EDO's Warlock remote control bomb protection technology may continue into 2007. We note that EDO expects a decline in Warlock revenues to result in flat organic growth this year. As a result of this uncertainty, we believe that EDO may trade at a below average historical multiple in the near future.
We are lowering our target price by $9 to $21.
iou