A report out of Citigroup this morning is sending shares of Saks Inc. (NYSE: SKS) higher this morning. The broker reiterated its BUY rating on the stock and its $20.00 target notes that the high-end retailer may be in-play as a merger target. Citi noted that Baugur’s filing earlier this week shows forward contracts to buy more shares.
If this sounds at all familiar, that is because this one has been a buyout rumor on many occasions in the past two years. A year ago, this was noted by Jim Cramer positively on this chance and Dana Cohen gave this a 50/50 chance of being a $21.00 buyout. This was also one of our recent "top US brands that could disappear" as US-owned companies because foreign buyers can take advantage of the weak dollar to buy vanity and non-key companies.
Shares are up almost 5% at $12.55 so far this morning and the 52-week trading range is $11.04 to $23.05.
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Jon C. Ogg
June 13, 2008
Travel Cards Are Getting Too Good To Ignore
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
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