My take on Canyon First off I don't any yet, am looking to enter, but will probably be waiting another week or two.
I expect them to have another great quarter, not exactly blow the doors off like q4 but still very good. Warm weather around Jan and an early breakup could cause them to miss, I don't know what the estimates are but it happened with PD. PD had a very good quarter but missed and the stock is still in the toilet(I think PD is a good one to own as well)
I think FRC may have bottomed at 10, but I think we may retest those levels again, or maybe even go to 8 depending how miserable the market is over these next 2 weeks.
We have no economic data points coming out in the us this week, so the focus is going to be on europe and their elections. Combine whatever wacky stuff comes out of europe this go around, with a slowing china and a slowing US and you get the TSX back at 11500 or 11000 again. "IF" it gets that bad it could be a real great opportunity for people with some stones and dry powder.
Expect some pressure on pricing, things got a little hot, and if oil gets to 90 or lower pricing will suffer as well. Arcan really scared me when they put the brakes on their capital spending for the year. "Oil is 105 and they want to just spend enough to maintain production?" That is blasphemy for companies like that and they must need a really good reason to do so, the stock got punished from about 5 to 3.50.
That being said there's lots of catalysts going forward for FRC
We're done breakup - what i hear is that rigs are getting ready to fire back up again, that's when people really start getting interested in these companies again
Everyone I talk to said they expect everybody to be operating at full blast after breakup, this comes from multiple sources.
Canyon is getting their new equipment in and industry practices is to have contracts for it all.
Great little company If you're a longer term investor pick up every share you can at these levels. But if you don't want to ride out the lows try and bottom fish it over the next little while. Things have the potential to get really bad in the overall markets but I don't expect them to get any worse than last fall.
Maybe I'm chicken little, but I don't want to risk my money if i don't have to.
Cheers and GL