from Tedd Cohen of Theflyonthewall.com
There are at least three busy bees this week: Donald, Carl, and Andy. Andy?
Who’s Andy? Read on…
TRUMP ENTERTAINMENT RESORTS (TRMP)
Can you image Trump being in demand? Gosh, he always says that, but now, there’s something to it. If “The Donald” decides to sell his casino company, his timing is right because there’s strong interest in gaming assets, and not too much competition in Atlantic City, where his casino properties are located. Last week Donald’s company hired Merrill Lynch to help with “strategic options”, which, of course, means it’s for sale. And if everyone gets this one right, Donald won’t have
to fire anyone.
There’s no satisfying Carl. Carl Icahn, that is, who wants a seat on Motorola’s board and keeps upping his stake in the company, now at 2.7%. The company buys back its shares; Carl wants them to buy more. Over the last five months, thanks to cheaper phones and tough competition, the company has lost about a third of its market value, or $22B. Then they issue another profit warning. Carl still wants in, but the company doesn’t want Carl. Motorola sure hopes those shareholders will stand with them. Not Carl.
“As you can imagine, there’s a lot of rumors and speculation out there and we’re not going to comment on that stuff,” says Palm CFO Andy Brown. Oh, come on Andy, what’s up? Really. You have a 60%-plus profit decline, and gee, Wall Street doesn’t have the hots for your stock. Earnings projections are in the tank. And what’s Morgan Stanley doing to earn their keep and help you sort this all out, anyway? Sale, sale, sale? Will it be DelI (DELL)? Hewlett-Packard (HPQ)? Microsoft (MSFT)? Motorola? Come on Andy! Would you call us first? We’re listed.