This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Buffett Interested in Bear Stearns?

Editor's Note: In this feature from Stockpickr, we highlight lists of stocks that have been upgraded by analysts, are experiencing activist situations or some other market moving events.

Rumors of the Day: Credit-battered Bear Stearns (BSC) was jumping 11% on renewed speculation about a large investment from a European or Chinese bank, according to the Associated Press. The New York Times also reported superinvestor Warren Buffett was considering a 20% stake. Bear declined to comment. The stock jumped $12.51 at $126.75.

Highland Capital Management, which owns 4.7% of PDL BioPharma (PDLI - Get Report), in a letter urged the company to explore a sale and called for Chairman Patrick Gage and CEO Mark McDade to step down immediately. Dan Loeb's Third Point, another large PDL BioPharma investor, has also called for a sale and resignations of the two executives. McDade in August said he planned to step down by the end of the year. Shares added 25 cents to $21.05.

Today's Hot List: Chevron (CVX - Get Report) announced a $15 billion buyback program, to be executed over the next three years. The new program follows three buybacks of $5 billion each that were completed in 2005, 2006 and September 2007. The company added 75 cents at $92.63.

General Motors (GM - Get Report) and the autoworkers union have reached a tentative agreement on a new national labor contract. The pact includes the framework for an independent retiree health care trust, as well as other changes to the national agreement. GM spiked $3.39, or 9.9%, to $37.81.

Analyst Downgrades: Merrill Lynch downgraded electronic manufacturing services provider Jabil Circuit (JBL - Get Report) to sell. The firm said the stock could fall 20% from current levels. Shares slumped 77 cents, or 3.1%, to $24.43.

Analyst Upgrades: Wachovia upgraded youth retailer American Eagle (AEO - Get Report) to outperform from market outperform. The bank said the company is well positioned for the end of the year and raised its estimates. Shares gained $1.44 to $26.41.

Latest Activist Situations: In an amended regulatory filing on marine and heavy-duty transmission component maker Twin Disc (TWIN - Get Report), investor Clarus Capital said a recent press release from the company was "highly misleading" and said the firm is interested in its 5.1% holder investment beyond the short-term. Clarus reiterated its call for Twin Disc to hire an investment bank to explore a sale of the company, saying there are parties who are interested in paying a significant premium to its current price. The stock increased $1.73 to $58.20.

Stockpickr is a wholly owned subsidiary of TheStreet.com.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AEO $16.34 0.00%
CVX $104.73 0.00%
GM $37.61 0.00%
JBL $21.90 0.00%
PDLI $7.10 0.00%

Markets

DOW 18,135.72 +38.82 0.21%
S&P 500 2,101.04 +2.51 0.12%
NASDAQ 4,982.8090 +15.6680 0.32%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs