Alltel (AT) is up more than 4% on WSJ report that it may attract a private equity offer. STFL threw fuel on the fire, according to flyonthewall.com, by stating that a bidding war could erupt for AT. However, analysts at SOLE aren't so enthusiastic and reiterated their SELL rating on AT doubting anyone would step in to buy the wireless carrier at current valuation of $22-bln.
Pacificnet (PACT) is breaking above recent resistance after landing a contract with China Telecom. The formula is simple: Up and coming U.S. company + new business deal with the word "CHINA" in it = a nice rally. Stock up as much as 14% today.
The bigger issue is whether the stock can ever break beyond its mostly range bound condition which has kept it trapped under $9 over the last few years.edit: by the end of the day PACT closed just above $6, well below the highs, which from a technical standpoint probably gets it off to a poor start in the New Year.
No comments:
Post a Comment