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This Quarter's Sentiment:
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From the Blogosphere
Playing It Safe with Safeco
SAF
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Operating earnings of $1.64 per diluted share were essentially the same as in the year-ago quarter, attributable to fewer average shares outstanding.
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Pre-Open Movers 4/23: Safeco (SAF) Up on Buyout, AMBAC (ABK) Lower on Massive Loss
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<>StreetInsider.com Pre-Open Movers:
Restore Medical (Nasdaq: REST) 179% HIGHER; Medtronic to buy the company for $1.60 per share.
Sirtris Pharmaceuticals (Nasdaq: SIRT) 81% HIGHER; GlaxoSmithKline (NYSE: GSK) and Sirtris Pharmaceuticals Incorporated (Nasdaq: SIRT) entered into a definitive agreement pursuant to which GlaxoSmithKline will acquire Sirtris Pharmaceuticals for approximately USD720 million (or approx. GBP362 million) through a cash tender offer of USD22.50 (or approx. GBP11.33) per share.
Safeco Corporation (NYSE: SAF) 47% HIGHER; Liberty Mutual Group and Safeco Corporation enter...
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Notable Mergers and Acquisitions of the Day 4/23 (SAF, IDGR, FDS/TRI)
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StreetInsider.com Notable Mergers and Acquisitions of the Day:<>Liberty Mutual Group and Safeco Corporation (NYSE: SAF) entered into a definitive agreement pursuant to which Liberty Mutual will acquire all outstanding shares of common stock of Safeco for $68.25 per share in cash.
<>Industrial Distribution Group, Inc. (Nasdaq: IDGR) today announced that it has received a definitive offer from affiliates of Luther King Capital Management to acquire all outstanding shares of the Company's stock for a price of $12.10 per share in cash to the Company's stockholders, an increase from LKCM's earlier ...
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Unusual 11 Mid-Day Movers 4/23: SIRT, SAF, ZOLL, ANAD Higher; ABK, MBI, TSFG, DAKT Lower
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Sirtris Pharmaceuticals (Nasdaq: SIRT) 82.4% HIGHER; GlaxoSmithKline (NYSE: GSK) and Sirtris Pharmaceuticals Incorporated (Nasdaq: SIRT) entered into a definitive agreement pursuant to which GlaxoSmithKline will acquire Sirtris Pharmaceuticals for approximately USD720 million (or approx. GBP362 million) through a cash tender offer of USD22.50 (or approx. GBP11.33) per share. Safeco Corporation (NYSE: SAF) 45.9% HIGHER; Liberty Mutual Group and Safeco Corporation entered into a definitive agreement pursuant to which Liberty Mutual will acquire all outstanding shares of common stock of Safeco...
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SAFECO chart looks fishy
This past weekend, our Alert HQ market scan identified SAFECO Corp. (SAF) as a BUY. Since then, we heard that Liberty Mutual was making an offer to acquire SAFECO at a significant premium.
I cannot say that Alert HQ has the ability to identify buyout candidates. What I can say is that Alert HQ has the ability to identify stocks that are moving up significantly after a prolonged down-trend.
As can be seen in the chart below, SAF was moving up well in advance of the announcement.
So I am wondering why SAF was moving up so strongly. In the last quarter, the company had registered a drop in earni...
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About Safeco Corp.
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