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Tuesday, March 16, 2010

AOB Disappoints, Again; Seaspan Just Fine; PETS Short Squeeze in Action

We're traveling this week and have limited time, but briefly:
  • We were disappointed to see American Oriential Bioengineering (AOB) miss guidance and estimates ONCE AGAIN -- contrary to our positive, patient long-term view, we actually decided to somewhat reduce our long position for reasons we'll share within the next couple of weeks.
  • Seaspan reported (SSW) results that we thought reaffirmed our positive view and, notably, the company indicated that it is pursuing alternate financing to reduce/eliminate the $180-240 million funding gap required for newbuilds in 2011-12. We continue to see improving data points throughout the container shipping industry.
  • PetMed Express (PETS) is seemingly (and happily) being squeezed higher thanks in part to Jim Cramer / CNBC (although he said to buy on dips).
Happy investing,

Jeffrey Walkenhorst

Disclosure: long AOB, SSW, PETS.

© 2010 Jeffrey Walkenhorst
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