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VIDEOTwo Ways to Play: Warren Buffett's Sugar High
Mars' Wrigley buyout could create world's largest candy maker, opportunity.
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Elsewhere, Microsoft (MSFT) shares were beat up today after Yahoo (YHOO) let Saturday's deadline pass. In January, Microsoft offered over $40 billion to take over Yahoo. Now Microsoft must decide whether to walk away or start one of the largest take-over battles in corporate history.
Kirk Kerkorian and his investment company, Tracinda Corporation, disclosed a 4.7% stake in Ford (F) and offered to buy 20 million more shares for $8.50 a share, a 13% premium to Friday's close. The stake would bring his total to $5.6% and the news sent Ford's stock surging up as much as 10%.
Feel free to check out Todd's comments in Monday Morning Quarterback.
From the Bull Pen:
A number of other candy makers rose in sentiment on the Wrigley buy-out such as Tootsie Roll (TR), Hershey Company (HSY), and Cadbury Schweppes (CSG). Although the takeover possibility is a stretch, bulls might continue to look to these stocks as they sit in a favorable space given the overall macro concerns. MSFT dropped 3% in today's session. The sell-off seemed overdone to a number of professors at the 'Ville. Professor Quint Tatro mentioned sell-stops on a clear break of $28.00.
From the Bear Cave:
General Motors (GM) jumped as much as 3% in today's session on the Tracinda/Ford news. Yet nothing about the company's business has changed and its challenges in a slowing economy still remain. Bears are eying the $25 level on GM as a downside entry, if and when the stock approaches that level.
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