Reuters: The Wall St. insider trading probe lead to another 14 arrests.
Reuters: Fannie Mae (NYSE:FNM) lost $19 billion and asked Treasury for money.
Reuters: GM is readying its plans for Opel as some of its workers went on strike.
Reuters: The pay czar says the jury is still out on reforms. Read More
i2 Technologies Inc. (NASDAQ: ITWO) is a supply chain management company which has been a takeout stock before. Turns out that is again. In a complicated transaction, JDA Software Group Inc. (NASDAQ: JDAS) will pay some $34 million all said and done in a deal that values the company at $18.00. This was also an unlikely transportation stock, despite it being a software play, which we picked earlier as one which could double. It has doubled and then some.
Over the past week 24/7 Wall St. has picked several stocks from major sectors that are likely to double off of their lows. This group focuses on the transportation sector with the picks being Continental Airlines, Inc. (NYSE: CAL), i2 Technologies, Inc. (NASDAQ: ITWO), Kansas City Southern (NYSE: KSU), Overseas Shipholding Group Inc. (NYSE: OSG), and Ryder System, Inc. (NYSE: R).
We have more details on why we like these over peers, but there are several suppositions in our opinions here. The time frame is by the end of 2010, which is meant to coincide with some form of economic recovery next year. A number of the credit and financial issues facing the markets will be in place for the near-term or longer. The other assumption used for choosing the stocks is a market bottom of roughly 600 on the S&P 500. Unfortunately, there is also the added risk of energy costs and now a new emissions “cap-and-trade” tax to consider.
Read More
An announcement came early this morning that JDA Software Group Inc. (NASDAQ: JDAS) was acquiring i2 Technologies Inc. (NASDAQ: ITWO). The companies have signed a definitive merger pact for approximately $346 million in cash. For the common stock, this translates to $14.86 per share in cash.
(ABT) Abbott Labs $0.69 EPS vs $0.68 estimate; guidance looks soft.
(ASD) American Standard $0.84 EPS net, but $1.05 before items; estimates were $1.08. Spin-off/sale remains on track.
(BLK) Blackrock $1.80 EPS vs $1.67 estimate.
(BSC) Bear Stearns said two of its funds are virtually worthless.
(CLDA) Clinical Data priced a 3 million share secondary at $22.00 per share.
(DAL) Delta Air $0.70 EPS; generated $1.1 Billion in free cash flow.
(DJ) Dow Jones board has approved a deal with Rupert Murdoch and will meet with Bancroft family.
(INTC) Intel trading down 5% after earnings last night.
(ISPH) Inspire Pharma announced a $75 million convertible preferred financing pact with Warburg Pincus.
(ITWO) i2 Technologies lowered guidance.
(JCI) Johnson Controls $1.98 EPS vs $1.98 estimate.
(JPM) JP Morgan Chase & Co $1.20 EPS vs $1.09 estimate.
(JUPM) JupiterMedia announced a $20 million acquisition of MediaBistro.com.
(LUV) Southwest Airlines $0.25 EPS vs $0.23 estimate; revenue performance looks better than expected so far for Q3.
(MO) Altria $1.05 EPS vs $1.13 estimate.
(NITE) Knight Trading $0.24 EPS vs $0.26 estimate; announced a $500 million share buyback plan..
(ORB) Orbital $0.23 EPS vs $0.21 estimate.
(PFE) Pfizer $0.42 EPS before items vs $0.50 estimates; reaffirmed 2007-2008 targets.
(STJ) St. Jude Medical$0.45 EPS vs $0.43 estimate.
(UTX) United Technologies $1.16 EPS vs. $1.15 estimates; reaffirmed targets.
(WFMI) Whole Foods’ board of directors started an investigation into CEO John Mackey Yahoo Message Boards postings.
(YHOO) Yahoo! trading down over 5% after earnings last night. YHOO target lowered at many firms: Goldman Sachs, Piper Jaffray, Credit Suisse, Bernstein, ThinkEquity and probably more.
Jon C. Ogg
July 18, 2007
Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.
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