According to this article in yesterdays Age, Billabong shares are in a trading halt at the moment pending an announcement expected on Monday. They are expected to announce either a profits warning (letting the shareholders know that the profits aren’t going to meet expectations) or announce that they are capital raising which could indicate another purchase in the works because they have no other payments due for a year or so. This conflicts with earlier statements about their plans to grow but I think there’s a lot of bargains to be had at the moment and if you’ve got the money, it’s a good time to be buying. Billabong are probably in the strongest position of any of the publicly listed surf companies so it will be interesting to see what happens.