Target Corporation (NYSE: TGT) has raised the ire of activist investor Bill Ackman a few times over the years, to little effect. Target, which owns roughly 85% of the real estate under its stores, owns more than just discount locations. It's estimated that Target's real estate holdings alone are worth $30 billion. That's on top of the $50+ billion it makes every fiscal year in revenue. Does Target's share price reflect that fact?BillAckman posts
FeedTarget: a retailer and a REIT
Target Corporation (NYSE: TGT) has raised the ire of activist investor Bill Ackman a few times over the years, to little effect. Target, which owns roughly 85% of the real estate under its stores, owns more than just discount locations. It's estimated that Target's real estate holdings alone are worth $30 billion. That's on top of the $50+ billion it makes every fiscal year in revenue. Does Target's share price reflect that fact?Bill Ackman lines up new board against Target's current one
Longtime Target Corporation (NYSE: TGT) supporter and share activist Bill Ackman has finally had enough. Not content with Target's board and wishful thinking that the retailer's fortunes will turn around any time soon, Ackman wants to replace at least four board members on Target's board. Ackman says his picks have the needed expertise in retail, credit card operations and real estate.Continue reading Bill Ackman lines up new board against Target's current one
Closing Bell: Techs decide to participate with St. Patrick's Day in rally (AA, AAPL, CSCO, DELL, DD, GS, TGT)
Today was an odd day as the market rose, but not for many of the reasons we might have thought about yesterday. The FOMC meeting hardly got any notice. Housing starts came in at a gain rather than at a drop, as was expected, and Producer Prices show almost no real signs of wholesale inflation. The other issue in today's rally is that it was not led by financial leaders. Technology enjoyed an up-day after getting a St. Patrick's Day memo and decided to show up in green. Here are today's unofficial closing bell levels:Dow 7,395.78 +178.81 (2.48%)
S&P 500 778.09 +24.20 (3.21%)
Nasdaq 1,462.11 +58.09 (4.14%)
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Chasing Value: MBIA earnings, stock and litigation up
After a rather nasty stock slide in earnings, share price and reputation MBIA Inc. (NYSE: MBI), the holding company for MBIA Insurance, has finally reported good news for its depressed investors; for the second quarter of 2008 the company's net income was $1.7 billion, or $7.14 per share, an improvement, compared with $211.8 million, or $1.61 per share for the corresponding period of 2007(see more earnings news).MBIA is generating revenue from existing business but new business has been harder to come by since Moody's and Standard & Poors both downgraded the company from a financial rating of AAA to AA.
Since I recommended the stock on July 29, 2008 it is up 74% rising from $4.92 to the close last Friday of $8.57. It is trading mid-day at $8.80. I will update after todays close.
In other news the company has also announced a law suit against Bill Ackman who shorted the stock and made many public claims that MBIA was destined to become insolvent. MBIA (MBI) And Ackman: Killing The Messenger.
Continue reading Chasing Value: MBIA earnings, stock and litigation up
Why is gold making a new high, trading at $1,118.00 per ounce?
Chasing Value: Ten stocks for 2010 -- Part 1 
Closing Bell: A six-day rally (AIG, REGN, M, MOT, PALM, RIMM)
