Maybe May, ay?
Wednesday, April 29, 1998
by Greg Markus (TMF Boring)
ANN ARBOR, Mich. (April 29, 1998) -- The Boring Portfolio notched a modest gain today as major market averages continued to work their way back from Monday's selloff. The Borefolio gained 0.38% in value, with advancing holdings outnumbering losers four to three.
Shares of FelCor Suite Hotels (NYSE: FCH) rose $15/16 to $34 1/16 in heavy trading. I saw no news specifically about FelCor that may have accounted for the activity, although a story in this morning's Wall Street Journal noted that a number of REIT insiders have been buyers of late, perhaps in anticipation that the stocks will pick up steam in the second half of the year, as they have in the past.
Pentair (NYSE: PNR) stock gained $2 to $43 1/16, pulling itself out the hole created last week when the company mentioned they might consider topping Applied Power's (NYSE: APW) offer to acquire U.K.-based electronic enclosures manufacturer Vero Group.
Cisco Systems (Nasdaq: CSCO) rose $1 1/8 to a bid of $71 15/16 on no news other than that the company has opened a government relations (read: lobbying) office in Washington, DC. The kid reports its fiscal third-quarter results this coming Tuesday, after the close.
On the down side, shares of Borders Group (NYSE: BGP) dipped $9/16 to $31. With one day left in the month of April, it's looking unlikely that the Ann Arbor-based bookseller will launch its long, long awaited e-commerce Website prior to the end of the company's fiscal first quarter, as previously projected.
Maybe May, ay?
That's about it from here. I'm off to Philadelphia tomorrow morning... the Northwest Airlines (Nasdaq: NWAC) workers' slowdown at Detroit Metro Airport permitting. My partner Mark Weaver, MD, will be here tomorrow, and I'll catch you Friday from Philly.
FoolWatch -- It's what's going on at the Fool today.
Stock Change Bid ANDW + 11/16 22.38 CGO -1 37.94 BGP - 9/16 31.00 CSL - 3/8 50.00 CSCO +1 1/8 71.94 FCH + 15/16 34.06 PNR +2 43.06 |
Day Month Year History BORING +0.38% 0.21% 1.29% 27.45% S&P: +0.88% -0.65% 12.80% 76.09% NASDAQ: +1.08% 0.87% 17.91% 77.88% Rec'd # Security In At Now Change 2/28/96 400 Borders Gr 11.26 31.00 175.40% 6/26/96 150 Cisco Syst 35.93 71.94 100.20% 8/13/96 200 Carlisle C 26.32 50.00 89.93% 3/5/97 150 Atlas Air 23.06 37.94 64.53% 4/14/98 100 Pentair 43.74 43.06 -1.55% 11/6/97 200 FelCor Sui 37.59 34.06 -9.38% 1/21/98 200 Andrew Cor 26.09 22.38 -14.24% Rec'd # Security In At Value Change 2/28/96 400 Borders Gr 4502.49 12400.00 $7897.51 6/26/96 150 Cisco Syst 5389.99 10790.63 $5400.64 8/13/96 200 Carlisle C 5264.99 10000.00 $4735.01 3/5/97 150 Atlas Air 3458.74 5690.63 $2231.89 4/14/98 100 Pentair 4374.25 4306.25 -$68.00 11/6/97 200 FelCor Sui 7518.00 6812.50 -$705.50 1/21/98 200 Andrew Cor 5218.00 4475.00 -$743.00 CASH $9251.26 TOTAL $63726.26