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Yes, it's June already, and as the heat begins to rise, so does rumor rage.
PACKETEER INC (NASDAQ: PKTR)On the block? If some investors have their way it is. The developer of wide area network, or WAN, Application Optimization systems expects first-quarter revenues to fall about 20% from the fourth quarter's $42.7 million. Leading the insurgency is "activist investor" Elliott Associates which holds 6.3% of the shares. In a letter to the firm's board, Elliott wrote that the company has "proven unable" to take advantage of its "leading technology." Better to be in the arms of a bigger company? The vultures think so.
GUITAR CENTER INC (NASDAQ: GTRC)Quicker than you can strum your guitar, this number appears to be up. Up for sale. The information is coming faster than a high strung solo.
Goldman Sachs Group Inc. (NYSE:
GS) is playing the lead. What an auction it will be. For the leading retailer of musical instruments, the stock disappoints, the direct response business is out of tune. A Goldman analyst reportedly said the company is a turnaround candidate, but may sell. Talk about blowing your own horn. We hear the LBOs are lined up right outside the Westlake Village headquarters in California. Everyone have a number?
INFOSPACE INC (NASDAQ: INSP)How many pesetas, uh euros, does it take to make about a billion dollars? Ask Spain's LaNetro Zed. That's about what some think they're offering to buy InfoSpace, the developer of tools and technology that help "regular" folk find content and information on the internet or on their mobile. Privately held LaNetro Zed provides mobile phone content and services. What's the hook here that they'd pay that much? Access to the U.S. market, of course. The answer, by the way, is about 800 million euros.
OFFICE DEPOT INC (NYSE: ODP)If you just lined up $1 billion worth of borrowing, which could go up to $1.25 billion, what would you do with it? Buy something, maybe? Sound like a good idea? Well, that's what Office Depot just did, and may do. Now who are they going to buy?
OfficeMax Inc. (NYSE:
OMX), maybe? Maybe. If true, then, along with
Staples Inc. (NASDAQ:
SPLS), there would be just two biggies in retail office supplies, and the Depot would be number one.
OPENWAVE SYSTEMS INC (NASDAQ: OPWV)And we're off! The stock has been on an upward trend for about a month. Volume is increasing.
Sybase Inc. (NYSE:
SY) is in the lead to buy the phone browser and messaging company. What about Harbinger's push on the inside? Now it's BridgePort Networks in the pack. Will Openwave overtake it? The field is tightening. Others could move up and take the lead. No one knows for sure how this one will end, folks. What a finish it's going to be!
DILLARD'S INC (NYSE: DDS)The founders may be seeking "strategic alternatives." Eyes wide open, please.
Dillards(NYSE:DDS) is recently up $1.40 to $22.60 on renewed & unconfirmed asset sale chatter. William Dillard is Chairman of the Board owns approximately 24.4% of the outstanding voting shares of DDS. William Dillard the 2nd is the CEO. Alex Dillard is President. Mike Dillard is executive Vice President. DDS call option volume of 9,976 contracts compares to put volume of 1,482 contracts. DDS November option implied volatility of 64 is above its 26-week average of 49 according to Track Data, indicating larger risks.
Dillards Inc.
