Monday, November 23, 2009

Intraday action

Stocks are still up handily on the day, with the DJIA +140.

Among gainers is Federal Financial Corp (FIF), on a buyout bid from People's United Financial (PBCT). The shares are +30% today. This deal gives a shot in the arm to the financial sector, showing that value does remain, if one is careful enough to sort through the wreckage.

Among losers is Peet's Coffee (PEET), down 10% to 34.50 from last week's high near $42 per share. Investors think they might be biting off more than they can chew by getting into a bidding war over Dietrich Coffee(DDRX), which also is being targeted by Green Mountain Coffee(GMCR). More on this coffee war to follow...

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