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Strategies & Market Trends : Can you beat 50% per month? -- Ignore unavailable to you. Want to Upgrade?

To: Smiling Bob who wrote (10572)	2/26/2007 3:42:28 PM
From: Smiling Bob	Respond to of 19257

TIF - bad buy, but puts are long enough to weather the news -- Tiffany & Co. Rises on Peltz Investment Monday February 26, 12:19 pm ET Tiffany & Co. Soars As Peltz's Trian Fund Snaps Up 5.4 Percent Stake NEW YORK (AP) -- Trian Fund Management LP, a hedge fund run by billionaire financier Nelson Peltz, reported it bought a 5.45 percent stake in the Tiffany & Co. because it believes the New York-based jewelry retailer's stock is "currently undervalued." The news sent shares of Tiffany to a year high of $45.98 earlier on the New York Stock Exchange. They recently changed hands up $2.36, or 5.5 percent to $45.22. The fund, which now owns 7.5 million shares of the company, said in a filing with the Securities and Exchange Commission that it seeks to help Tiffany improve its margins and earnings per share growth and address various operational and strategic issues, including optimizing global expansion opportunities and evaluating non-core businesses. Trian said the stock is currently undervalued compared to some of its peers and various market indices and represents "an attractive investment opportunity." Trian also stated that it has decided not to seek board representation at the company's annual shareholder meeting after meeting with Tiffany's management and board, who appear willing to talk with Trian about the fund's ideas and strategies to improve the company's financial performance and to further grow and broaden the Tiffany brand. In September, Peltz and another investor, Michael F. Weinstein, won two seats on H.J. Heinz Co.'s board after a bitter proxy battle. The group was seeking changes at the ketchup maker, including cost-cutting measures and greater investment in Heinz brands, to increase shareholder value.