Through The Fly's Eyes: Rumor Mill
from Tedd Cohen of Theflyonthewall.com
With the holiday season upon us, how about a takeover gift for your CEO this year?
One again, there’s talk that Symantec is a potential target. Under its Norton brand name, the company proudly defends computers against viruses and protects computer networks. But the landscape is changing as McAfee (MFE), and now Microsoft (MSFT), are fiercely engaged in the same ongoing battle, and have been joined by Internet security offerings from providers such as AOL (TWX) and Comcast (CMCSA). Now comes word that Hewlett-Packard (HPQ) might be primed to take Symantec. OK, but if nothing happens, as has been the case for quite some time, the company will keep on growing, guarding against those nasty computer invaders.
How’s this for openers: Knowing that the CEO of your company, in this case Internet closeout merchant Overstock.com, has been named first runner up for the second year in a row as the ”Worst CEO of the2006” by Dow Jones’ Market Watch. Way to go, Mr. Patrick Byrne. Some thought he should have been the winner this time. Talk about takeover appeal. The lookers are looking. From a share price of about $15 two weeks ago, it’s moved upward about 10%. All thanks to negatives in earnings, growth and its life blood, traffic. Suitors named include Amazon.com (AMZN), eBay (EBAY), Google (GOOG), Yahoo (YHOO), and gee, has anyone seen Carl Ichan staking out Byrne’s office?
Name that tune, eh, price. The online music provider’s volume has been turned up again, as it now seems to be a regular item. While its stock is strongly up this year, it’s expected to lose money, about $1 a share, and then continue its losing ways. After the summer, the company brought in UBS to help out with a possible sale. While its got name, if not making the bucks, a sugar daddy would surely be welcome.