False hype on the volume. KMAG is in trouble and even had another 144 filed today, institutions are selling so Thompson's should show a lot of institution transactions and if they go over the manning rule of 10K blocks those could be considered false also.
About to get delisted ... 81M in the float....
Interesting the money flow is negative, which means the little guy is buying while big money is selling beause the price went up a bit today so I fiure someone is taking Thompson's and looking at it positively but the institutions have been selling.
I dunno maybe there is a reason for the uptick but I do not see it. Besides it traded over 21M one day and dropped below the 10 day MA and may try to get over the 10 day but I think institutional and 144 will tag whoever buys.
Will watch the moeny flow indicator but nothing fundamentally I see.
Is there a rumor or is it a sucker run?
SO but I was nto on the internet today watching it.
SAN JOSE, Calif., Aug. 24 /PRNewswire/ -- Komag, Incorporated (Nasdaq: KMAG), the largest independent producer of media for disk drives, today announced that it has filed a voluntary petition for reorganization under chapter 11 of the U.S. Bankruptcy Code. The company expects to continue operations during the chapter 11 process. Prior to the filing, the company reached agreement in principal with its senior bank debt holders on a plan of reorganization that will be filed shortly. The plan includes a commitment by the senior lenders to provide a liquidity facility to bolster the company's working capital thus ensuring the company's ability to meet its financial commitments after the bankruptcy filing. By entering into a chapter 11 case, the company will have a centralized forum for negotiations with its other creditor constituencies and, ultimately, the authority of the court to confirm a plan of reorganization that will restructure the company's debt. (Photo: http://www.newscom.com/cgi-bin/prnh/19990816/KMAGLOGO ) "The company intends, with the support of the senior lenders, to continue operations without interruption during the restructuring process" stated T.H. Tan, Komag's chief executive officer. "Komag Material Technology, Inc. in Santa Rosa, California and Komag USA (Malaysia), Sdn., with operations in Penang and Sarawak Malaysia, are not parties to the chapter 11 filing. As a result, the company anticipates that the operations of these and other subsidiaries will not be impacted. These subsidiaries will carry on their business and continue to make scheduled payments to their suppliers as before the bankruptcy filing date." Mr. Tan continued, "The company has operated for several years with a heavy debt burden, including approximately $202 million of senior bank debt and $230 million in notes assumed as a result of its merger with HMT Technology Corporation in October 2000. To fully exploit the inherent value in the company's operations and return to profitability, the company must reduce its indebtedness to a more manageable level through a restructuring of its balance sheet. Over the past year, in addition to implementing a number of successful initiatives to reorganize the company's operations to increase margins and improve efficiency, company management has sought to accomplish a financial restructuring through consensual arrangements outside of court. At this time, however, we have determined that -- despite the ongoing success of our operational reorganization -- it is clear that the protections of the Bankruptcy Code are necessary to achieve and implement an effective financial restructuring. We believe the plan that will be filed fairly allocates value to all stakeholders and are committed to seeking approval for this plan as expeditiously as possible."
About Komag: Founded in 1983, Komag is the world's largest independent supplier of thin-film disks, the primary high-capacity storage medium for digital data in computers and consumer appliances. Komag's advanced development capability and high-volume, low-cost manufacturing expertise provides high quality, leading-edge disk products at a low overall cost to its customers. These attributes enable Komag to partner with customers in the execution of their time-to-market design and time-to-volume manufacturing strategies. Supplementing its core disk business, Komag has launched a diversification program that will leverage the company's knowledge of magnetic recording and its ultra-high precision manufacturing capabilities. For more information about Komag, visit Komag's Internet home page at http://www.komag.com or call Komag's Investor Relations 24-hour Hot Line at 888-66-KOMAG or 408-576-2901.
Forward Looking Statements This press release contains certain "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbors created thereby. These statements represent the company's current judgment and include, but are not limited to, restructuring its debt and continuing uninterrupted operations of the company and its subsidiaries. The company's actual results for future periods could differ materially from those projected in such forward-looking information. Factors that could cause actual results to differ include, but are not limited to, variability in demand for and average selling price of disks, the impact of demand variation on factory utilization, the company's ability to achieve its operating yield, cost and profitability targets, the company's ability to satisfy customer qualification requirements, the company's ability to restructure its existing debt obligations and the other factors described in the company's reports filed with the Securities and Exchange Commission, including, but not limited to, its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Komag undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of such statements.
News 
Market Data 
Discover 
