Market Gems-Trading Strong Earnings Growth and Momentum Message Board

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Strategies & Market Trends : Market Gems-Trading Strong Earnings Growth and Momentum

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To: Jenna who started this subject	3/9/2001 8:08:29 PM
From: hoffy	Read Replies (1) of 6445

PBY.. something is up. Looks like a takeover is coming. $13 book value so this could run a bit. NEW YORK (Dow Jones)--Shares of auto parts retailer Pep Boys-Manny Moe & Jack (PBY) jumped 15.2% Friday on heavier than normal volume. Pep Boys Chairman and Chief Executive Mitchell Leibovitz said in an interview with Dow Jones Newswires that he has no explanation for the company's stock movement. "We have not released any information," Leibovitz said, and no one has contacted the company about the significant volumes of stock moving in the last few days. Leibovitz views the stock as a great value, citing the company's stock's book value of about $13. He said the company is positioned to take advantage of the "decimated" car-purchasing market, with about 6,500 service bays in the U.S. and Puerto Rico that sell tires and auto parts and offer full-service auto inspections and car maintenance. Leibovitz wouldn't comment on rumors regarding a possible takeover of the company. Shares of the Philadelphia-based company recent traded at $6.66, up 88 cents, or 15.5% on volume of 938,600 shares. Average daily share volume is 272,600.

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