Borders by Pay Phone?
Tuesday, May 12, 1998
By Greg Markus ([email protected])
ANN ARBOR, Mich. (May 12, 1998) -- Stocks reversed course Tuesday, staging a late-session gain thanks to a strengthening bond market. The Boring Portfolio fared less well than the benchmark averages on the session but still managed to post a 0.17% gain. Winning holdings in the Borefolio outnumbered losers four to three.
Shares of Pentair (NYSE: PNR) rose $15/16 to $45 3/8. As you may recall, Pentair's been involved in a bit of a bidding war with Applied Power (NYSE: APW) to acquire British-based electrical enclosures manufacturer Vero Group. This morning, Reuters reported that Applied Power had topped Pentair's 102.2 million pound bid with an offer of 115.5 million pounds, or approximately $190 million, which Vero's board has agreed to accept.
Also rising were shares of Carlisle Companies (NYSE: CSL), up $3/16 to $51 9/16. Carlisle's latest 10-Q filing with the Securities & Exchange Commission is available from the SEC's EDGAR Website. This filing details Carlisle's first-quarter financial results and provides a brief commentary by management about those results and other events occurring during the March quarter. For folks who invest in stocks of U.S. companies, EDGAR is surely one of the Websites you'll want to visit periodically for information about your current and prospective investments.
And for folks who are interested in options -- a subject about which I confess to knowing very little -- the Pacific Exchange announced that Carlisle stock options will be available beginning tomorrow. Strike prices of 45, 50, and 55 will be available for the months of June, July, September, and December.
Also tomorrow, Borders Group (NYSE: BGP) will post its fiscal first quarter results, in the morning. A conference call will follow. The company disclosed last week that it would exceed the Street's forecast by earning a nickel a share, so there will be no surprises in that regard. Participants in the call -- which will include yours truly, probably from a pay phone at Jacksonville, Fla. airport -- will be quite interested, however, in the latest info about the Borders.com e-commerce website as well as an update on Borders' plans for international expansion.
As always, we'll provide you with a timely summary of the call... one way or the other.
Cheers.
FoolWatch -- It's what's going on at the Fool today.
Stock Change Bid ANDW + 1/8 21.81 CGO - 15/16 36.00 BGP - 3/16 31.75 CSL + 3/16 51.56 CSCO +1 5/8 76.38 FCH - 3/16 35.13 PNR + 9/16 45.38 |
Day Month Year History
BORING +0.17% 0.50% 3.70% 30.48%
S&P: +0.83% 0.36% 14.98% 79.50%
NASDAQ: +0.65% -0.44% 18.45% 78.70%
Rec'd # Security In At Now Change
2/28/96 400 Borders Gr 11.26 31.75 182.07%
6/26/96 150 Cisco Syst 35.93 76.38 112.55%
8/13/96 200 Carlisle C 26.32 51.56 95.87%
3/5/97 150 Atlas Air 23.06 36.00 56.13%
4/14/98 100 Pentair 43.74 45.38 3.73%
11/6/97 200 FelCor Sui 37.59 35.13 -6.56%
1/21/98 200 Andrew Cor 26.09 21.81 -16.40%
Rec'd # Security In At Value Change
2/28/96 400 Borders Gr 4502.49 12700.00 $8197.51
6/26/96 150 Cisco Syst 5389.99 11456.25 $6066.26
8/13/96 200 Carlisle C 5264.99 10312.50 $5047.51
3/5/97 150 Atlas Air 3458.74 5400.00 $1941.26
4/14/98 100 Pentair 4374.25 4537.50 $163.25
11/6/97 200 FelCor Sui 7518.00 7025.00 -$493.00
1/21/98 200 Andrew Cor 5218.00 4362.50 -$855.50
CASH $9447.76
TOTAL $65241.51
