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Developers Diversified Realty Corporation (the “Company”) (NYSE: DDR) today announced the pricing of $300 million of senior unsecured notes in an underwritten public offering. The offering consists of $300 million of 7.50% notes due April 2017. The notes are being offered to investors at a price of 99.995% with a yield to maturity of 7.50%. Interest on the notes will be paid semi-annually on October 1 and April 1. The offering is expected to close on or about March 19, 2010, subject to customary closing conditions.

The net proceeds to the Company, after subtracting the underwriting discount and estimated offering expenses, are expected to be approximately $296.8 million, which the Company intends to use to repay debt with shorter-term maturities and to reduce balances on the Company’s revolving credit facilities.

My initial announcement was made February 19, 2010 that this was the stock to be in @ $10.00 Since then DDR has been up every single day with exception of 2 days. That is pretty impressive especially with a 27% gain in the stock and the option has gained a whopping 525% for the March $10.00 strike priced at .40 at the time. Imagine placing $1,000 investment in the option!

Dell is my next stock on my conviction buy list. It’s beginning to break out. After trading in a narrow range the past week, it has begun it trajectory upward. My price target for DELL is $15.50 – $16.25. My initial announcement was made March 10th. It’s still not late to jump aboard the April or May calls of $14.00 and upward.

Cheers!!!!

Tags: breakout stocks, DDR, dell

This entry was posted on Wednesday, March 17th, 2010 at 6:31 am and is filed under Contributors, Large Cap Stocks, Small Cap Stocks, Technical Stocks. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.