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SAIA Inc. Chairman Sells 20,000 Shares of SAIA
Monday, October 4, 2010 - 4:13pm | 61In a Form 4 filed earlier today, SAIA Inc. (NASDAQ: SAIA) Chairman of the Board, Herbert Truckess, reported that he sold 20,000 shares of SAIA on September 30th-October 1st for an average price of $15.00. The transaction totaled $300,000. This sale was 10b5-1 Plan indicated. Mr. Truckess owns 296,...
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Deutsche Bank Discusses Arkansas Best Corporation (ABFS)
Monday, October 4, 2010 - 7:49am | 49Deutsche Bank discusses Arkansas Best Corporation (NASDAQ: ABFS), which recently raised rates on shipping costs. It has a Buy rating and a $30 price target on shares. Shares of Arkansas Best lost 48 cents on Friday to close at $23.75, a loss of nearly 2%.
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Top 4 NASDAQ Stocks In The Services Sector With The Highest EPS Estimates (PCLN, STRA, UHAL, APOL)
Monday, October 4, 2010 - 6:12am | 145Below are the top service stocks on the NASDAQ in terms of earnings estimate for the next year. The earnings estimate for priceline.com Incorporated (NASDAQ: PCLN) for the next year ending December, 2011 is $15.26 per share. PCLN's quarterly earnings gained 71.50% y/y. Strayer Education Inc (NASDAQ...
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Zings Of The Day (MSFT, WHR, PC, HPQ, DTG)
Friday, October 1, 2010 - 4:13pm | 337Hewlett-Packard (NYSE: HPQ) announced Leo Apotheker as its new CEO, sparking concerns from investors that he may not be the right man for the job. Investors are concerned about his tenure at SAP (NYSE: SAP), which didn't live up to expectations. They were also concerned that being from France and...
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New Tentative Labor Agreement For YRC Worldwide
Friday, October 1, 2010 - 9:22am | 126Deutsche Bank has published a research report for YRC Worldwide (NASDAQ: YRCW) following the company's tentative labor agreement announcement. In the report, Deutsche Bank writes "YRCW announced that its Board and Union leaders approved a tentative labor agreement expected to reduce annual costs by...
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Bye Bye Hertz (HTZ)
Thursday, September 30, 2010 - 11:51pm | 103Hertz (HTZ) takeover bid for Dollar Thrifty is headed down the tubes. Shareholders of Dollar Thrifty rejected the takeover bid by Hertz today. Hertz offer was $50 a share which shareholders found to be too low to accept. Rival firm Avis offered $53 a share for Dollar Thrifty. No one knows if...
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S&Ps Up 9% in September 09-30-2010
Thursday, September 30, 2010 - 7:39pm | 817Cusick's Corner What a trading range today, 1133-1155 on the DEC S&P e-minis. It looks like some market players are taking an opportunity to buy some protection after the best September in over 7 decades (9% increase in the S&P this month)! One notable trade was in DELL where the November...
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Dollar Thrifty Announces Results of Special Meeting of Shareholders
Thursday, September 30, 2010 - 4:22pm | 151Dollar Thrifty Automotive Group, Inc. (NYSE: DTG) today announced that the Company did not obtain the requisite votes to execute its definitive merger agreement with Hertz Global Holdings, Inc. (NYSE: HTZ) at the special meeting of shareholders held today. The final vote results, which were...
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Bulls Taking Avis For a Test Drive (CAR)
Wednesday, September 29, 2010 - 10:52am | 164Shares of Avis Budget Group, Inc. (NYSE: CAR) are lower on the session by 0.44%, currently trading at $11.27. The stock has been moving largely sideways for the past five months, though it is currently trading above the 50-day and 200-day moving averages. Options traders are buying upside calls on...
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Hertz: M&A With A Brain
Wednesday, September 29, 2010 - 8:39am | 105The president of PAR, which owns 7.7% of the shares in Dollar Thrifty (NYSE: DTR), told The Wall Street Journal that his fund will vote against a Hertz offer to buy the smaller company. The cash and stock offer is worth about $51 a share. Hertz has said that it will call off the deal if Dollar...
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Hertz Affirms Deal Certainty as Avis Concedes Antitrust Hurdle
Tuesday, September 28, 2010 - 8:17am | 205Hertz Global Holdings, Inc. (NYSE: HTZ) today responded to a press release, dated September 27, 2010, issued by Avis Budget regarding the acquisition of Dollar Thrifty (NYSE: DTG). Mark P. Frissora, Chairman and Chief Executive Officer, said, "Instead of making a legitimate offer to purchase...
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Avis Budget Group Announces Commitment to Launch Exchange Offer for Dollar Thrifty
Monday, September 27, 2010 - 4:39pm | 151Avis Budget Group, Inc. (NYSE: CAR) today sent a letter including the following statements to Dollar Thrifty Automotive Group, Inc. (NYSE: DTG): We believe that the Board of Directors of Dollar Thrifty should have declared our recent offer to be a superior proposal, and do not agree with the Board...
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M&A Activity Continues 09-27-2010
Monday, September 27, 2010 - 4:00pm | 801Cusick's Corner This has been a whippy session and the market is now off the lows of the day. Heading into the end of the month, September has had quite an impressive rally with the S&Ps up 9% so far in September. Watch for some potential profit taking, some money managers may be looking to...
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Dollar Thrifty Affirms Recommendation of Hertz Merger
Monday, September 27, 2010 - 9:32am | 207Dollar Thrifty Automotive Group, Inc. (NYSE: DTG) today issued the following statement regarding the revised proposal made by Avis Budget Group (NYSE: CAR) on September 23, 2010: "Our Board of Directors, in consultation with our financial and legal advisors, has reviewed and considered carefully...
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Piper Jaffray Previewing Ground Transport Q3 Earnings (ABFS)
Monday, September 27, 2010 - 7:42am | 126Piper Jaffray previews the Q3 ground transport earnings, and in particular Arkansas Best Corporation (NASDAQ: ABFS). In the research note, Piper Jaffray writes, "Multiple discussions with both public and private TL and LTL providers yielded that volumes continued to grow at strong rates albeit...