HOME | IMC UK | Editorial Guidelines | Mission Statement | About Us | Contact | Help | Support Us

SouthCoast Indymedia

EDO Corp Shares Drop To 52 week Low (NYSE)

analyst | 12.06.2006 16:57 | Anti-militarism | South Coast

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.

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.



analyst
- Homepage: http://www.smashedo.org.uk

Comments

Hide the following 4 comments

Doubled in 3 years

14.06.2006 10:35

EDO stock was under $15.00 a share 3 years ago, the recent market drop was reflected across all international markets. Sorry but the statement provided above is utter garbage.

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.

 http://forbes.marketedge.com/Secop/EDO.asp?refer=forbes

a


EDO sinks deeper

20.06.2006 18:02

So the article my be leaping to conclusions but the facts speak for themselves.

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

One of the big three corporate credit rating companies in the US called S&P (Standard and Poors) has downgraded EDO and recommends selling the stock.

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


Publish

Publish your news

Do you need help with publishing?

-->

Kollektives

Birmingham
Cambridge
Liverpool
London
Oxford
Sheffield
South Coast
Wales
World

Other UK IMCs
Bristol/South West
London
Northern Indymedia
Scotland

South Coast [navigation.actions2016]

South Coast [navigation.actions2015]

South Coast [navigation.actions2014]

NATO 2014

South Coast Actions 2013

G8 2013

South Coast Actions 2012

Workfare

South Coast Actions 2011

2011 Census Resistance
August Riots
Dale Farm
J30 Strike
Occupy Everywhere

South Coast Actions 2010

Flotilla to Gaza
Mayday 2010
Tar Sands

South Coast Actions 2009

COP15 Climate Summit 2009
G20 London Summit
Guantánamo
Indymedia Server Seizure
University Occupations for Gaza

South Coast Actions 2008

2008 Days Of Action For Autonomous Spaces
Campaign against Carmel-Agrexco
Climate Camp 2008
G8 Japan 2008
SHAC
Smash EDO
Stop Sequani Animal Testing
Stop the BNP's Red White and Blue festival

South Coast Actions 2007

Climate Camp 2007
DSEi 2007
G8 Germany 2007
Mayday 2007
No Border Camp 2007

South Coast Actions 2006

April 2006 No Borders Days of Action
Art and Activism Caravan 2006
Climate Camp 2006
Faslane
French CPE uprising 2006
G8 Russia 2006
Lebanon War 2006
March 18 Anti War Protest
Mayday 2006
Oaxaca Uprising
Refugee Week 2006
Rossport Solidarity
SOCPA
Transnational Day of Action Against Migration Controls
WSF 2006

South Coast Actions 2005

DSEi 2005
G8 2005
WTO Hong Kong 2005

South Coast Actions 2004

European Social Forum
FBI Server Seizure
May Day 2004
Venezuela

South Coast Actions 2003

Bush 2003
DSEi 2003
Evian G8
May Day 2003
No War F15
Saloniki Prisoner Support
Thessaloniki EU
WSIS 2003

IMCs


www.indymedia.org

Projects
print
radio
satellite tv
video

Africa

Europe
antwerpen
armenia
athens
austria
barcelona
belarus
belgium
belgrade
brussels
bulgaria
calabria
croatia
cyprus
emilia-romagna
estrecho / madiaq
galiza
germany
grenoble
hungary
ireland
istanbul
italy
la plana
liege
liguria
lille
linksunten
lombardia
madrid
malta
marseille
nantes
napoli
netherlands
northern england
nottingham imc
paris/île-de-france
patras
piemonte
poland
portugal
roma
romania
russia
sardegna
scotland
sverige
switzerland
torun
toscana
ukraine
united kingdom
valencia

Latin America
argentina
bolivia
chiapas
chile
chile sur
cmi brasil
cmi sucre
colombia
ecuador
mexico
peru
puerto rico
qollasuyu
rosario
santiago
tijuana
uruguay
valparaiso
venezuela

Oceania
aotearoa
brisbane
burma
darwin
jakarta
manila
melbourne
perth
qc
sydney

South Asia
india


United States
arizona
arkansas
asheville
atlanta
Austin
binghamton
boston
buffalo
chicago
cleveland
colorado
columbus
dc
hawaii
houston
hudson mohawk
kansas city
la
madison
maine
miami
michigan
milwaukee
minneapolis/st. paul
new hampshire
new jersey
new mexico
new orleans
north carolina
north texas
nyc
oklahoma
philadelphia
pittsburgh
portland
richmond
rochester
rogue valley
saint louis
san diego
san francisco
san francisco bay area
santa barbara
santa cruz, ca
sarasota
seattle
tampa bay
united states
urbana-champaign
vermont
western mass
worcester

West Asia
Armenia
Beirut
Israel
Palestine

Topics
biotech

Process
fbi/legal updates
mailing lists
process & imc docs
tech