Peltz Steps Up Pursuit of Wendy's

The billionaire investor earlier offered between $37 and $41 a share for the burger chain.
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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

: According to a regulatory filing,


(WEN) - Get Report

, the nation's No. 3 hamburger chain, and 9.8% holder



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


(MO) - Get Report

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) - Get Report

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


(PFE) - Get Report

. 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


is buying diabetes services and supplies maker



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


, 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


. Fleetwood shares sank 14 cents to $8.96.

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