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My Cup Runneth Over With Rumors
By Ian Cooper
This past Tuesday, we recommended that you keep an eye on Ceradyne with regards to the Bush administration’s proposed 2008 budget. It looks like we weren’t the only ones keeping a watch. Friedman Billings just upgraded the company, sending the stock up more than $2. So, congratulations to those of you that decided to buy Ceradyne shares on our mention yesterday.
And if you didn’t buy Ceradyne on Bush budget speculation, don’t worry about it. There’s always a juicy story or juicy speculation that’ll drive a stock that we’re watching. As of today, the new stocks to keep on radar are Apple (AAPL) and Realogy (H).
With regards to Apple, LoopRumors.com is reporting that Apple could make an announcement this month. While it’s not known what the announcement may be, there’s speculation that it could involve (1) a Beatles announcement, or (2) a wide touch-screen video iPod. With regards to the Beatles, recent agreements with Apple could pave the way for a Beatles appearance on iTunes.
Or, maybe we’ll get some information on the rumored temporary replacement for Steve Jobs as the options probe intensifies. Says a source on MadDailyNews.com, “‘I am also hearing that Google CEO Eric Schmidt has already begun low-level discussions with several Apple board members regarding his role as a possible temporary replacement to Steve Jobs should the options-backdating issues intensify at legal levels.’”
I’m not sure of the validity of this rumor, but it’ll be interesting to see what, if any, announcement will be made.
Elsewhere, you may also want to keep an eye to the ground on Realogy (H), which is now subject to Vornado Group buyout rumors following Vornado’s dropped bid for Equity Office Properties. We’re hearing rumors that it may be interested in buying Realogy, another property management company. Now, while Realogy did agree to be acquired by Apollo Management at $30 a share, Realogy can still seek other proposals from third parties until February 14, 2007.
Maybe we’ll see another horse race, this time over Realogy.
Take care,
Ian L. Cooper, Editor, Early Alert Trader