April 1, 2010

Dump Covanta, CVA

Did you dump Covanta stock on January 16, 2009?   If not, your second and last chance to dump CVA was January 15, 2010 at $19.34.

Toni Orlando's boss Mr Sam Zell sold a few Covanta shares in March 2009.
5-Mar-09SZ INVESTMENTS LLCBeneficial Owner (10% or more)558,000DirectSale at $13.61 per share.$7,594,380
5-Mar-09ZELL SAMUELDirector558,000IndirectSale at $13.61 per share.$7,594,380
4-Mar-09SZ INVESTMENTS LLCBeneficial Owner (10% or more)1,008,700DirectSale at $14.16 per share.$14,283,192
4-Mar-09ZELL SAMUELDirector1,008,700IndirectSale at $14.16 per share.$14,283,192

Covanta's long term debt including liabilities is most recently stated at about $3.05 billion ($3,050,000,000).  That's thirty times the profits for 2009.  Hopes are high for a rescue from the Dublin incinerator.

Covanta's total revenue for 2009 was stated at $1.5 billion ($1,550,467,000).

Net income for 2009 was just $0.1 billion ($101,645,000) which you could earn recycling cans many times over like the milionaire tramp in Sweden who dined out in waste bins.

Image: Mr Zell of Covanta.  Not the Millionaire Swedish Recycling Tramp.

Covanta's finance director, aka CFO, fled to Alberta in March 2010.  But you knew that on Jan 15, 2010.

DateResearch FirmAction
16-Oct-09 OppenheimerDowngrade
18-Sep-09 Barclays CapitalDowngrade
24-Jul-09 Ardour CapitalDowngrade

Covanta Downward Momentum Looks to Continue (CVA) - 3/25/2010 7:23:48 PM  By Chip Brian, SmarTrend Analytics Team

SmarTrend identified a Downtrend for Covanta (NYSE:CVA) on January 28, 2010 at $17.99. In approximately 2 months, Covanta has returned 8.4% as of Thursday's closing price of $16.49.
Covanta is currently below its 50-day moving average of $17.64 and below its 200-day moving average of $17.48. Look for these moving averages to decline to confirm the company's downward momentum. 


ZELL SAMUEL19,5007-May-09
SZ INVESTMENTS LLC12,607,6826-Mar-09
PATE WILLIAM363,3777-May-09
ORLANDO ANTHONY J272,11719-Mar-10

HolderShares% OutValue*Reported
THIRD AVENUE MANAGEMENT, LLC9,261,2895.98$167,536,71831-Dec-09
Blue Ridge Capital Hlgds LLC/Blue Ridge Cap Offshore Hldgs L8,662,1175.59$156,697,69631-Dec-09
NEUBERGER BERMAN GROUP, LLC6,729,8934.34$121,743,76431-Dec-09
MORGAN STANLEY5,171,4253.34$93,551,07831-Dec-09
BAMCO INC.4,815,5733.11$87,113,71531-Dec-09
VANGUARD GROUP, INC. (THE)4,249,6172.74$76,875,57131-Dec-09
SOROS FUND MANAGEMENT LLC4,143,9742.67$74,964,48931-Dec-09
S.A.C. CAPITAL ADVISORS, LLC3,804,7872.46$68,828,59631-Dec-09
PRINCIPAL FINANCIAL GROUP, INC.3,521,9182.27$63,711,49631-Dec-09
BARCLAYS PLC3,340,0802.16$60,422,04731-Dec-09

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