Peltz Steps Up Pursuit of Wendy's

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Rumors of the Day: According to a regulatory filing, Wendy's(WEN Quote - Cramer on WEN - Stock Picks), the nation's No. 3 hamburger chain, and 9.8% holder Triarc(TRY Quote - Cramer on TRY - Stock Picks) entered into a confidentiality agreement that allows the investor to explore a buyout. In the past, Nelson Peltz's Triarc, parent company of the Arby's fast food chain, said it was prepared to offer between $37 and $41 per share. Wendy's surged 3.3% or $1.05 at $33.04.

Speculation continues that Altria(MO Quote - Cramer on MO - Stock Picks) will spin-off its international cigarette unit, Philip Morris, according to various news sources. The company's board meets on Wednesday, and a Citigroup analyst sees an 80% to 90% probability of a tax free spinoff. The cigarette company dipped 74 cents to $69.34.

Today's Hot List: XOMA(XOMA Quote - Cramer on XOMA - Stock Picks) licensed non-exclusive, worldwide rights to its patented bacterial cell expression technology for phage display and other research, development and manufacturing of antibody products to Pfizer(PFE Quote - Cramer on PFE - Stock Picks). XOMA will be paid $30 million upfront, in addition to milestone, royalty and other fees on future sales of all products subject to the license, including products currently in late-stage clinical development. XOMA shares rocketed 21.1% to $2.76, while Pfizer shares dropped 10 cents to $24.66.

Pharmacy benefit management provider Medco Health Solutions(MHS Quote - Cramer on MHS - Stock Picks) is buying diabetes services and supplies maker PolyMedica(PLMD Quote - Cramer on PLMD - Stock Picks) in an all-cash transaction valued at $53 per share, or $1.5 billion. PolyMedica jumped $6.37, or 14.1%, to $51.66 and Medco added 18 cents at $86.29.

Latest Activist Situations: SLS Management, which owns 11.8% of recreational vehicle maker Fleetwood Enterprises(FLE Quote - Cramer on FLE - Stock Picks), said in a regulatory filing it wanted the company's board to explore "consolidation alternatives to maximize shareholder value." The firm said it believes the best alternative is a sale to factory-built home provider Champion Enterprises(CHB Quote - Cramer on CHB - Stock Picks). Fleetwood shares sank 14 cents to $8.96.