Collective Brands Rallies On Takeover Speculation

Shares of Collective Brands (NYSE: PSS) climbed more than 2% on Wednesday on continued speculation that the company could be a takeover target. The New York Post reported recently that the company could be bought around $20/share. Citing sources close to the situation, the NYPost said the company is aiming to be sold as a whole rather than in parts. Among possible suitors: Wolverine Worldwide (NYSE: WWW) in combination with a PE firm such as Sun Capital or Golden Gate or a combination between Brown Shoe (NYSE: BWS), Finish Line (Nasdaq: FINL) and several other private-equity parties.


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Apple Shares Soar On Upbeat Earnings

Shares of Apple Inc. (NASDAQ: AAPL) surged more than 6% on Wednesday, a day after the iPhone maker reported net income of $13.1 billion, or $13.87 per share, compared with net income of $6 billion or $6.43 per share in the year-ago quarter. Revenue surged 73% to $46.3 billion. Analysts, on average, expected the company to report earnings of $10.08 per share on revenue of $38.85 billion for the quarter.

Apple said it shipped 37.04 million iPhones, 15.43 million iPads, 5.2 million Macs and 15.4 million iPods.

Looking ahead, Apple forecast revenue of $32.5 billion and earnings per share of $8.50.

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Suntech Power Jumps On Takeover Speculation

Shares of Suntech Power Holdings Co. Ltd. (NYSE: STP) surged more than 7% Friday on speculation that the company could be a takeover target. Suntech Power Holdings Co., Ltd., a solar energy company, engages in the design, development, manufacture, and marketing of photovoltaic (PV) products. The company also provides engineering, procurement, and construction services to building solar power systems for certain related party and third party customers. Stay tuned for more.

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