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Sounds kind of dirty, right? Actually, it's because of a clean visual that technical analysts use this term. Technical analysts like charts (hence their nickname of "chartists"), and they like to give certain patterns they see neat little names.
Such is the case with the double bottom, which looks on a chart like, well, a double bottom. Think of three mountains (on a chart reflecting a rise in values) separated by two valleys (representing dips in value). The troughs of the valleys, and the size of the first two peaks, are generally the same, so the chart looks like the letter 'W.' The appearance of those two valleys represents a double bottom.
So what? Well, if you're one of those folks who believes in the power of the charts, seeing a double bottom suggests a long-term trend is about to reverse. So, if a stock chart shows shares falling for several months, then seeing a double bottom, chances are good (according to the chartists) that the shares will rise. And vice versa.
But, beware: charts can be a great tool, but they're more art than science. Use any charts with caution.
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Wednesday, May 14, 2008
DIRECTV Completes $2.5 Billion Financing
Comtex
EL SEGUNDO, Calif., May 14, 2008 (BUSINESS WIRE) ----The DIRECTV Group, Inc. (NASDAQ:DTV) announced today that its subsidiaries, DIRECTV Holdings LLC and DIRECTV Financing Co., Inc., have completed their previously announced $2.5 billion debt financing. This financing consists of $1.5 billion in 7-5/8% senior notes due 2016 and $1.0 billion of incremental floating rate term loans under their existing senior secured credit facility. The net proceeds of these financings are available for general corporate purposes, including payment of a dividend to DIRECTV Group, to be used by it to fund purchases of its stock under its recently announced $3 billion share repurchase program.
The senior notes were sold pursuant to Rule 144A and Regulation S under the Securities Act and have not been registered in the United States under the Securities Act or in any other jurisdiction and may not be offered or sold in the United States absent registration on an applicable exemption from the registration requirements.
The DIRECTV Group (NASDAQ:DTV) is a world-leading provider of digital television entertainment services. Through its subsidiaries and affiliated companies in the United States, Brazil, Mexico and other countries in Latin America, the DIRECTV Group provides digital television service to more than 17 million customers in the United States and more than 5.1 million customers in Latin America.
SOURCE: The DIRECTV Group, Inc.
The DIRECTV Group, Inc. Media Contact: Darris Gringeri, 212-462-5136 or Investor Relations: 212-462-5200
Copyright Business Wire 2008
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