Jim Cramer Blog

Chip stocks traded lower after Morgan Stanley downgraded Intel (INTC), Advanced Micro Devices (AMD) and NVIDIA (NVDA) to underweight. CSX Corporation (CSX) traded lower after it was also downgraded by Morgan Stanley. Mattel (MAT) and Hasbro (HAS) traded lower after BMO Capital Markets downgraded the toy sector. Macke: the downgrade is about taking gains and he is still long Hasbro and Disney (DIS).
Carl Icahn: raised his stake in Temple-Inland (TIN) to 8.9% and BEA Systems (BEAS) to 11%.
Word on the Street
Wheat traded lower for the second day in a row on bearish planting forecasts. Najarian: the pullbacks in commodity names like BHP Billiton (BHP) and Freeport-McMoRan (FCX) are buying opportunities. He also sees continued buying in October call options on EchoStar (DISH). Macke agrees.
iShares FTSE/Xinhua China 25 Index ETF: falls 5% after a huge 2-day run.
TXU (TXU): Dylan Ratigan reported that financing for a TXU (TXU) buyout could be set to go next week. If this deal closes it will be the largest private equity deal ever. Finerman says that Guitar Center (GTRC) is also close to getting a deal done. Finerman's play on this very recent trend is Lehman Brothers (LEH) and Goldman Sachs (GS).
Blackberry
The Blackberry has been a gigantic hit for Research In Motion (RIMM) and investors have seen the stock for RIMM go up 126% on the year. Global Crown Capital increased the RIMM target price to $180 a share.
Face2Face
First writer asked about China Finance Online (JRJC), China BAK Battery (CBAK) and even Baidu.com (BIDU). Macke says neither bubble nor exuberance come to mind. He tells writer that these are momentum plays and you should treat them as such.
Another writer asked for some insight into what Garmin's (GRMN) recent volume is telegraphing? It was 7 times the average volume to the downside when the NAVTEQ (NVT) deal was announced Monday. Finerman: this is disruptive for two reasons. First, it makes the valuation of Garmin rich, and second it's a problem for Garmin to have someone buy the software it needs to make its product. Finerman owns NAVTEQ for a play on Garmin taking it over.
Pops & Drops
Pops- Panera Bread (PNRA) traded up 8%. Adami thinks Panera will rally into earnings and then it will be time to sell it.
Harley Davidson (HOG) traded up 6% off. Najarian says its still way off the highs.
Kaiser Aluminum (KALU) popped 7%. Finerman agrees that the stock is still undervalued.
Circuit City (CC) traded up 5%. Macke: Get out of Circuit City while you can.
KB Home (KBH) traded up 5%. Adami says take the profits and run.
NYSE Euronext (NYX) traded up 2%. Adami says $85 will be big resistance for NYX.
Drops- Wynn (WYNN) fell 10% and Las Vegas Sands (LVS) fell 12% off of disappointing growth numbers for Macau. Najarian says the numbers out of Macau were not as big as people thought they would be, hence the disappointment.
Midway Games (MWY) fell 5%. Macke: MWY is married to Sony whose Playstation has tough competition against the Nintendo Wii.
Final Trade
Macke: sell homebuilders and book the short-term gains.
Finerman: going with Icahn and BEA Systems (BEAS).
Najarian likes Apple (AAPL).

Labels: AMD, BEAS, BHP, CNBC, CSX, DIS, DISH, Fast Money, Fast Money Recap, FCX, HAS, INTC, MAT, TIN

The Best of Texas: J.C. Penney (NYSE: JCP - News), Transocean (NYSE: RIG - News), XTO Energy (NYSE: XTO - News) and Temple-Inland (NYSE: TIN - News)
For Cramer's Back to School show at McCombs School of Business at the University of Texas at Austin, Cramer discussed his four favorite Texan stocks. First was JCP, "the best and most consistent retailer in the country," which has been unfairly "hammered" after executives admitted the product mix needed alteration. Second was RIG, the "biggest and among the cheapest" drillers which lacks exposure to the weak markets in the Gulf of Mexico and Canada but has the freedom to raise rates because of intense demand. Cramer also mentioned XTO which he would buy aggressively because it uses reserves efficiently and knows how to trade oil. In addition, XTO has 12% reserve growth, unlike other oil stocks. Cramer's favorite Texan pick is TIN which, aided by Carl Icahn's influence, is finally going to break up and is due for "27 points of upside." Cramer would buy any of these stocks "right here, right now."
Any Questions: Cisco (NasdaqGS: CSCO), Dell (NasdaqGS: DELL), Hewlett- Packard (NYSE: HPQ - News), ITT Corporation (NYSE: ITT - News)
While Cramer thought one student's question about Cisco was challenging, since the stock has moved from $18 to $29, he answered, "When you have a best in show stock like CSCO, you can't give it up." He recommended holding Cisco and buying more if it fell below $25. While Cramer says he respects Michael Dell, he adds the fundamentals of the industry have changed and others have stolen Dell's model; "Fabulous company, not a great stock." While Cramer likes water pumping as a concept, he doesn't see how a company like ITT can make money.
CEO Interview: William R. Johnson, HJ Heinz (NYSE: HNZ - News)
Cramer invited McCombs School of Business alumnus, William R. Johnson, onto the show and asked whether HNZ is a good defensive play or whether the Chinese and Japanese are going to put their ketchup brands on the table. "No, we have our bottles on their tables," said Johnson. When asked if the company was nervous about shareholder like Nelson Peltz showing up unexpectedly, Johnson replied that it is natural to resist a boss when the company's many "bosses" are their consumers, but added, "It's a normal resistance, but it's a mistake because these guys do bring value." He also identified "innovation" as the HNZ's theme and Cramer gave the company a triple buy, commenting Heinz "defines the most defensive business possible."
Pitching to Cramer: Schlumberger (NYSE: SLB - News), Broadcom (NasdaqGS: BRCM), Wal-Mart (NYSE: WMT - News)
Students from McComb's MBA Investment Fund pitched their stocks to Cramer. The first student touted SLB as a value pick, which was down but would come back on macroeconomic trends and the high price of oil. Cramer commented the student was "dead right," and while the stock isn't cheap "sometimes you've got to pay a premium for a great stock ... I would buy it aggressively." A second student liked BRCM because of its diverse product portfolio, accelerated revenue growth and improved inventory management. She added its options backdating problems are behind it, because of its clean balance sheet. While Cramer agreed with her fundamental analysis, he would put BRCM on hold until August because he doesn't like tech here. A third student said Wal-Mart management is "finally focused on what it needs to do" and is a stock people will be satisfied with in 12 to 18 months. While Cramer has been bearish on WMT, he told the student he would visit three Wal-Mart stores in 72 hours before makng a decision.
Published by SeekingAlpha

Labels: HNZ, HPQ, ITT, JCP, Jim Cramer, Mad Money, RIG, SLB, TIN, WMT, XTO

Abraxis BioScience (NasdaqGS:ABBI - News) shares rose 4% after the company reported fourth-quarter adjusted earnings of $46.7 million, or 29 cents a share, up from a year-ago equivalent profit of $14.8 million, or 9 cents a share. Revenue rose in the latest three months to $257.1 million from $145.6 million in the same period a year earlier.
Dow Chemical (NYSE:DOW - News) shares surged 3.5% following a report from a British tabloid that the company may receive a leveraged buyout offer from a consortium of private equity firms worth up to $54 billion.
GulfMark Offshore Inc. (NasdaqGS:GMRK - News) shares gained 5.7% after the company said its fourth-quarter net income jumped to $30.6 million, or $1.42 a share, from $8.2 million, or 39 cents a share, a year earlier. The firm, which provides marine transportation for the oil and gas industry, said revenue for the quarter rose 34% to $69 million, largely due to higher rates and the addition of new vessels. The firm said profit also benefited by around 17 cents a share from a previously announced sale. Analysts polled by Thomson Financial had been expecting earnings of 90 cents a share on revenue of $62 million. The company also said it expects demand for vessel services to remain strong throughout all of its markets in 2007.
Hub International Ltd. (NYSE:HBG - News) shares jumped 15% after the company agreed to be acquired private-equity firm Apax Partners and Morgan Stanley Principal Investments in a deal valued at roughly $1.8 billion.
Jakks Pacific Inc. (NasdaqGS:JAKK - News) shares leapt 17% after the company said its fourth-quarter net income rose to $23.2 million, or 73 cents a share, from $9.0 million, or 30 cents a share, a year ago. On an adjusted basis, net income totaled 84 cents a share. Analysts had been expecting the designer and marketer of toys to report earnings of 67 cents a share, according to data compiled by Thomson Financial. Sales rose to $238.3 million, from $166.3 million last year. The company said that it's expecting 2007 sales to reach at least $800 million, with net income of $75.8 million, or $2.39 a share. First quarter net sales are forecast in a range of $114 million to $120 million, while earnings are expected in a range of 7 to 10 cents a share.
GTX Inc. (NasdaqGM:GTXI - News) shares surged 8.8% after analysts at Lazard Research maintained their buy rating on the company, citing the company's recent release of positive data for its treatment Acapodene, a treatment for negative side effects associated with a leading prostate cancer therapy called ADT. The analysts also raised their price target for the stock to $25 from $21.
Mace Security International Inc. (NasdaqGM:MACE - News) shares rose after the company said it has rejected a $3-per-share indication of interest from Kelly Capital. Mount Laurel, N.J.-based Mace, a maker of electronic surveillance and personal defense products, also said that it has decided to enter into talks with Kelly Capital regarding the possibility of Kelly paying more than $3 per share. Kelly Capital has signed a confidentiality agreement with Mace and is currently conducting due diligence, Mace said.
Temple-Inland (NYSE:TIN - News) shares jumped 13% after the company moved to spin off its financial-services and real-estate units and sell a portion of its timberland holdings to concentrate on packaging and building products.
TXU Corp. (NYSE:TXU - News) shares gained 13% after the company said its board has agreed to a deal to be taken private by an investor group led by Kohlberg Kravis Roberts, Texas Pacific Group and Goldman Sachs.
Published By MarketWatch

Labels: ABBI, DOW, GMRK, GTXI, HBG, JAKK, MACE, TIN, TXU

The stock market closed out last week tepidly, and equities extended their weak performance at the start of the trading week today as the major stock indices all closed lower. Comments by former Federal Reserve Chairman Alan Greenspan that the U.S. "may" fall into a recession later this year helped to boost the Treasury market, but also put a damper on stock trading. The yield on the 10-year Treasury note fell to 4.62%, while in the oil markets, crude futures were up modestly.
A major acquisition by a consortium of private equity firms once again dominated the headlines, but did little to help the overall market. Texas utility TXU (NYSE: TXU - News) agreed to be bought by a group that includes Kohlberg Kravis Roberts, Texas Pacific Group, Goldman Sachs (NYSE: GS - News), and three other Wall Street firms for approximately $32 billion, plus the assumption of $13 billion in TXU debt. TXU's shares added 13% on the news of the $69.25 a share offer. It will be the largest corporate buyout in history if it is approved and closes. The deal was notable in that the acquiring companies said they would significantly scale back TXU's controversial plan to build 11 coal-fired power plants, winning the support of environmental groups that had been battling the utility.
TXU's status as the world's largest buyout could be short-lived if a news story published Sunday in London is accurate. According to British newspaper Sunday Express, chemicals giant Dow Chemical (NYSE: DOW - News) may be the next target of private equity firms in a deal that could approach $54 billion. Investors reacted cautiously to the story as the stock added 4% to close well below the projected $60-a-share offer price. Several analysts quoted in follow-up news reports suggested such a deal was unlikely to be welcomed by management. The company's CEO had dismissed the idea in response to a question posed in its most recent earnings call.
XM Satellite Radio Holdings (Nasdaq: XMSR - News) said a sharp increase in revenue combined with tighter controls over its marketing costs enabled it to narrow its Q4 loss. The company, which announced plans last week to merge with the nation's other satellite provider, Sirius Satellite Radio (Nasdaq: SIRI - News), lost -$263 million, or -90 cents per share, against a loss of -$270 million, or -$1.22 per share, a year ago. The results included a -$57 million charge that reflected the declining value of a stake in a Canadian satellite operator. Without the charge, XM would have bested analyst estimates by a penny, posting a loss of -71 cents per share.
Texas-based Temple-Inland (NYSE: TIN - News) announced plans to break itself into three separate public companies by the end of the year. Investors jumped in, pushing the shares up 13%. Temple-Inland will sell its timberland holdings, retain the packaging and building products businesses that comprises the bulk of its revenue, and spin off its financial services and real estate units into two separate companies. Investor Carl Icahn had bought a stake in the company and advocated the breakup.
Published By Bullmarket.com

Labels: DOW, GS, SIRI, TIN, TXU, XMSR

Stocks were narrowly mixed Tuesday as concerns about a market correction offset investor optimism that acquisition activity is on pace to set a record this year.
The $45 billion buyout of electric utility TXU Corp. injected confidence into the market that merger and acquisition activity could surpass last year's record $4 trillion level. The deal, led by a consortium of buyout shops that include Kohlberg Kravis Roberts & Co. and Texas Pacific Group, would go down as the largest leveraged buyout in U.S. history.
Other deals announced before the opening bell included Station Casinos Inc., which agreed to be bought by a private equity firm started by the company's founding family. Temple-Inland Inc., a conglomerate that offers everything from packaging material to financial services, announced it plans to separate itself into three standalone public companies.
However, stocks were unable to sustain gains as there continued to be concern major indexes are in need of a correction. The Dow Jones industrials, after hitting a peak last week, fell for three straight sessions in their worst weekly decline since August.
"Despite the buyout news, we're seeing the broader market a little concerned that we've had such strength without a correction," said Peter Dunay, an investment strategist with New York-based Leeb Capital Management. "We maybe be in a period where the market wants to step back for a bit."
In late morning trading, the Dow rose 9.70, or 0.08 percent, to 12,657.18.
Broader stock indicators were mixed. The Standard & Poor's 500 index was up 2.06, or 0.14 percent, at 1,453.25, and the Nasdaq composite index fell 7.81, or 0.31 percent, to 2,507.29.
Bonds continued to rise from last week's sell-off, with the yield on the benchmark 10-year Treasury note falling to 4.65 percent from 4.68 percent late Friday. Bonds had been weaker amid concerns that subprime lenders would be forced to take write-downs if consumers defaulted on mortgage payments.
The dollar was mixed against other major currencies, while gold prices rose.
Oil prices rose as a winter storm plowed across the United States, spurring expectations of strong demand for heating oil. A barrel of light sweet crude rose 31 cents to $61.45 on the New York Mercantile Exchange.
TXU rose $7.67, or 12.8 percent, to $67.69 after it agreed to be bought by private equity firms. Directors of the electric utility voted Sunday night to recommend that shareholders approve the sale, which values its stock at a 15 percent premium.
Meanwhile, Dow Chemical Co. spiked $2.88, or 6.6 percent, to $46.33 on speculation it could be the target of a leveraged buyout. London's Sunday Express newspaper, in an unsourced report, said the chemical company might be given an offer of about $54 billion from buyout funds.
Station Casinos rose $3.51, or 4.2 percent, to $86.81 after it agreed to go private in a $5.4 billion deal, which represents an 8 percent premium over its closing price on Friday. The deal still allows Station to solicit acquisition proposals from third parties for 30 days.
Temple-Inland rose $7.55, or 13.7 percent, to $62.50 after it agreed to spin off its real estate and financial services arms, and sells its timberland business. The decision came days after activist shareholder Carl Icahn said he'd wage a proxy fight to seize control of the board.
Gilead Sciences Inc. rose 30 cents to $73.93 after the biopharmaceutical company said one of its drugs used to treat HIV works well with other therapies. Merck & Co. rose $1.10, or 2.6 percent, to $44.04 after the third-biggest U.S. maker of prescription drugs was upgraded to "Buy" from Citigroup.
Declining issues barely outpaced advancers on the New York Stock Exchange, where volume came to 475.4 million shares.
The Russell 2000 index of smaller companies fell 1.88, or 0.23 percent, at 824.76.
Overseas, Japan's Nikkei stock average closed up 0.15 percent. In afternoon trading, Britain's FTSE 100 was up 0.56 percent, Germany's DAX index added 0.55 percent, and France's CAC-40 rose 0.87 percent.

Labels: DOW, GILD, MRK, STN, TIN, TXU

Wall Street bounced higher Monday after a proposed takeover of Texas power company TXU Corp. gave investors another dose of optimism about the pace of acquisitions this year.
The company said before the opening bell it agreed to be bought by a consortium of private equity firms led by Kohlberg Kravis Roberts & Co. and Texas Pacific Group. The deal, worth $45 billion with the assumption of debt, marks the biggest leveraged buyout in U.S. corporate history.
Also lending support to stocks was Station Casinos Inc., which agreed to be taken private by a private equity firm started by the company's founding family. Temple-Inland Inc., a conglomerate that offers everything from packaging material to financial services, announced it plans to separate itself into three standalone public companies.
The takeover activity injected confidence into the market, and snapped a three-day slide in the Dow Jones industrials. Last year, the amount of mergers and acquisitions surpassed the $4 trillion level for the first time and helped power the Dow into record territory.
In the first hour of trading, the Dow rose 34.05, or 0.27 percent, to 12,681.53.
Broader stock indicators were also higher. The Standard & Poor's 500 index was up 5.39, or 0.37 percent, at 1,456.58, and the Nasdaq composite index added 8.44, or 0.34 percent, to 2,523.54.

Labels: Dow Jones, Hot Stocks, Nasdaq, STN, TIN, TXU

Sirius Satellite Radio (NasdaqGS:SIRI - News) has proposed to pay 4.6 of its shares for each share of XM Satellite Radio (NasdaqGS:XMSR - News) in a deal valued at $13 billion, including debt. But the transaction will face significant anti-trust scrutiny.
Smart & Final Inc. (NYSE:SMF - News) agreed to be acquired by private equity firm Apollo Management. The deal values shares of the Los Angeles-based warehouse food store operator at $22 each, compared to Friday's close at $19.06. The total enterprise value of the transaction, including debt but net of cash, is estimated at about $812.9 million.
Shares of TB Wood's Corp. (NasdaqGM:TBWC - News) jumped after the company agreed to be acquired by Altra Holdings for $24.80 a share. Chambersburg, Pa.-based TB Wood's is a maker of electronic and mechanical industrial power transmission products. Under the terms of the deal, Altra will make a cash tender offer for all outstanding shares of TB Wood's common stock. The tender offer is expected to close in April. Quincy, Mass.-based Altra expects the deal to add immediately to 2007 earnings and to add roughly 15 to 20 cents a share to earnings in 2008 and 2009.
Shares of Temple-Inland (NYSE:TIN - News) rose after investor Carl Icahn's Icahn Associates named a slate of directors that it will nominate to replace some of the existing board. Icahn, whose funds own about 6.7% of the wood-products company, is seeking a possible break-up of the company or a spin-off.
Wal-Mart Stores (NYSE:WMT - News) reported fiscal fourth-quarter net income rose 9.8% on 11% higher revenue. Earnings from continuing operations rose 8.8%. For the quarter ended Jan. 31, the company earned $3.94 billion, or 95 cents a share, compared with $3.59 billion, or 86 cents, in the year-earlier period. Earnings from continuing operations were 95 cents compared with 87 cents. A survey of analysts by Thomson Financial produced a consensus estimate of 90 cents for the quarter. Total revenue was $99.08 billion against $89.25 billion. Sales climbed 11% to $98.09 billion from $88.42 billion. Thomson's revenue estimate was $99.59 billion. U.S. comparable-store sales for the quarter rose 1.6%. For the fiscal 2008 first quarter, Wal-Mart estimate that it would earn 68 to 71 cents a share from continuing operations as U.S. comparable-store sales increase 1% to 3%. For the full fiscal year, Wal-Mart forecasts $3.15 to $3.23 of earnings from continuing operations.
Warner Music Group (NYSE:WMG - News) confirmed it's approached EMI Group plc about a possible acquisition. Warner said it made the overture on Jan. 24 after reaching an agreement with the Independent Music Publishers and Labels Association to support any subsequent combination as long as certain conditions were met, including the provision of specified funding for the Merlin global digital rights licensing platform initiative and the divestiture of certain recorded music assets. Warner added that its approach to EMI "remains in the preliminary stages and there can be no certainty that the discussions will result in any specific transaction."

Published By MarketWatch

Labels: SIRI, SMF, TBWC, TIN, WMG, WMT, XMSR

Electronic Arts Inc. led the Standard & Poor's 500 Index higher in midday trading Tuesday after Barron's magazine said the recent launch of three video game consoles is sure to help the video game publisher's sales.
Barron's said the releases of PlayStation 3, Xbox 360 and Wii are good for Electronic Arts because the people who bought the consoles will buy new games.
Shares of Redwood City, Calif.-based Electronic Arts rose $2.06, or 4.1 percent, to $52.08 in midday trading on the Nasdaq.
The S&P 500 index was up 2.12, to 1,457.66 in midday trading.
Shares of Temple Inland Inc. rose after a Banc of America Securities analyst upgraded the stock, saying investors are revisiting how to value the Austin, Texas-based packaging maker.
Temple Inland gained $1.68, or 3.2 percent, to $54.84 on the New York Stock Exchange. The stock hit as high as $55.45, breezing past the previous 52-week high of $53.18.
Also among leaders was Polo Ralph Lauren Corp., a New York-based clothing marketer. Polo Ralph Lauren partnered with Kohl's Department Stores to market the Chaps Home collection a few days after announcing a deal with J.C. Penney Co. to create a new brand called American Living. Polo Ralph Lauren added $2.45, or 2.8 percent, to $88.24, after earlier hitting a new all-time high of $88.45.
Among laggards, Anadarko Petroleum Corp.'s stock fell after a Prudential Equity Group analyst lowered his price target on the company. He said the stock isn't cheap enough to compensate for the energy company's risk.
Anadarko's stock fell $1.16, or 2.8 percent, to $40.17 on the Big Board.
Shares of Baker Hughes Inc. continued their plunge for the third session after the Houston-based oil services provider reported disappointing fourth-quarter earnings.
The stock fell $1.40, or 2.2 percent, to $63.65.
Also among laggards was Nucor Corp., a Charlotte, N.C.-based steel producer. An industry report showed inventories aren't clearing as fast as investors hoped.
Nucor's stock fell 83 cents to $63.89 on the NYSE.
Published by AP

Labels: APC, BHI, ERTS, Hot Stocks, JCP, NUE, RL, TIN

Motorola Inc. (NYSE:MOT - News) said on Tuesday that billionaire investor Carl Icahn will seek a seat on the board and has taken a 1.4 percent stake in the company, pushing the cell phone maker's shares up more than 6 percent. Icahn is known for pressuring management to improve performance in companies he holds. His presence on Motorola's board could prompt more aggressive measures from the No. 2 mobile phone maker to contend with flagging profits and operating margins, analysts said. "Just given (Icahn's) background, people could see that as a catalyst," said Piper Jaffray analyst Michael Walkley. "A lot of people believe Motorola has a lot of value that could be unlocked." Motorola said it received a notice of nomination from Icahn entities owning about 33.529 million shares of the company's outstanding stock. The company said it had no additional information on Icahn's intentions and it was reviewing the notice. Motorola has not set a date for its 2007 shareholders meeting. Officials at Icahn's office were not immediately available. "I think any time you can bring someone like that onto the board, it's going to be a win for Motorola," said Shawn Campbell, principal in Campbell Asset Management of Chicago, which owns Motorola shares. "Certainly Carl Icahn is somebody who's going to mix it up." Pressure on Motorola Chief Executive Ed Zander has grown as the company reported earlier this month a sharp drop in profit due to price cuts for its flagship Razr phone and tough competition in emerging markets. Motorola said it plans to cut 3,500 jobs in a bid to restore operating margins to double-digit percentage levels. But investors are looking for the company to produce a revenue-boosting successor to the Razr and fend off its larger rival Nokia (Helsinki:NOK1V.HE - News).
RIPE FOR CHANGE
If Icahn makes in onto the board, he would likely try to work with Zander and management, rather than against them, to push for change, analysts said. But some see Motorola as ripe for a structural shake-up. "If you break up the company, it's worth an awful lot more than it's trading right now," said JP Morgan's Ehud Gelblum, who rates the share at "overweight."
In a recent note to clients, Gelblum said the share was highly attractive from "a private equity/sum-of-parts/break-up point of view," even though there was no evidence its management was pursuing any of those strategies. Motorola shares have slipped 26 percent off their most recent high of $26.30 in mid-October, just before it reported third-quarter revenue that missed Wall Street forecasts. That compares with a 4.5 percent rise on the Standard & Poor's 500 Index in the same period. The Icahn news will likely boost Motorola shares in the near term as investors wait for his next move, analysts said. "It doesn't always necessarily end up being change, but investors always wonder what kind of change he's going to force," said Prudential Equity analyst Inder Singh. In recent months, Icahn has put a spotlight on such companies as home builder WCI Communities Inc. (NYSE:WCI - News), where he increased his holdings, and building materials maker Temple-Inland Inc. (NYSE:TIN - News), saying he may urge management to divest one or more businesses there. Last year, Icahn led a call for a breakup of media conglomerate Time Warner Inc. (NYSE:TWX - News) to wrest more returns for shareholders. While the company remained intact, it sped up existing strategic plans and instituted a $20 billion share buyback. Motorola shares gained $1.18 to $19.49 on the New York Stock Exchange.
Published by Michele Gershberg

Labels: Carl Icahn, MOT, NOK, TIN, TWX, WCI