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Newspaper wrap-up 1-26-07: Iran to attempt space launch

MAJOR PAPERS:

The Wall Street Journal's (subscription required) "Heard on the Street" column wrote that activist investor Carl Icahn has his eyes set on WCI Communities Inc. (NYSE:WCI).
The Financial Times (subscription required) reports that BAE Systems Plc. ADR (OTC:BAESY) faces a court challenge from anti-arms groups that want to know how private documents belonging to them ended up in the company's hands.

OTHER PAPERS:

Aviation Week reported that Iran said it is set to attempt a space launch. There is speculation it could be a cover for Iran testing longer-range missile strike technologies.
Investor's Business Daily's "New America" column focused on Home Inns & Hotels Management Inc. ADR (NASDAQ:HMIN), China's top budget hotel chain. The company went public in October and is in the midst of a building boom, leasing properties and adding franchises in fast growing cities across China.
BusinessWeek's "Inside Wall Street" column highlighted three companies:

The Gap Inc. (NYSE:GPS) recently hired Goldman Sachs Group Inc. (NYSE:GS) to explore strategic alternatives. With sales continuing to deteriorate this puts Goldman Sachs analyst Margaret Mager in an awkward position as she has a "Sell" recommendation on Gap.
Louisiana-Pacific Corp. (NYSE:LPX) is up from $18 in September to $23.33 now, buoyed by rumors that it's a buyout target and by "signs of a bottoming" in homebuilding.
Intelli-Check Inc.'s (AMEX:IDN) ID-Check technology has been ordered by the U.S. Defense Dept. and will be embedded in handheld computers used by the Pentagon Force Protection Agency.