The video this transcript is based on appeared on December 31.
NEW YORK ( TheStreet) -- Private equity firms cashed out of car rental company Hertz (HTZ) in March and Marvell Technologies (MRVL) has a big private equity firm to count among its shareholders now--as well as a single-digit boost heading into the open. Jim Cramer's Action Alerts pick is one stock that already has an activist investor--the question is, will it take on a big share buyback?
Good morning from a soon to be very crowded Times Square on December 31, New Year's Eve. I'm Jon Marino for TheStreet at the Nasdaq MarketSite with your global markets update this morning. Right now U.S. futures looking about flat as we go into the final trading day of 2013.
And overseas, taking a look at our international exchange panel right now. It was only about nine months ago that private equity investors including the Carlyle Group cashed out of car rental company Hertz. Now, the company announced after hours Monday, it is adopting a one-year shareholder rights plan to prevent outside investors from gaining control of Hertz in the wake of substantial trading activity. No telling yet whether a big pickup in Hertz trading is from an activist investor or a potential buyer, but shares are up two points heading into the open this morning.
Back at the wall here, one company that definitely is getting private equity attention is Marvell Technologies. The chipmaker's shares are up nearly 90 percent this year and KKR announced after hours monday it is taking a single-digit stake in the company with the possibility of engaging Marvell in deal talks. Shares are up about five points as we look into the open this morning.
And rounding out our stocks this morning is an action alert pick from Jim Cramer. He's a recent buyer in Timken (TKR) , and Cramer is bullish on the stock thanks to an activist investor. Shares are lagging behind the market's pace for 2013, up less than 16 percent. Jim says he could see a buyback coming for as much as 20 percent of Timken's shares, which would be a big boost for the stock.
That's a wrap for us in 2013. However, keep an eye on our site all day for market news and updates. For TheStreet, i'm Jon Marino, have a happy new year.
Written by Jon Marino in New York.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV