The leading indexes are up about 0.1% at the start of the final session before the three-day weekend.
Shares of Stocks to Watch favorite (in the sense that I write about the company a lot — not a recommendation!)�J.C. Penney�(JCP) are down about 4% this morning, as are shares of�Transocean�(RIG).
Meanwhile, shares of Burger King Worldwide (BKW) are rising, up more than 3% after its fourth-quarter profit almost doubled:
Burger King has been working to revive its menu and marketing strategy to expand beyond its core 20-something male customer. Earlier this week, the company said it is adding lattes and flavored coffee to its menu, representing another attempt to catch up to rival�McDonald’s�Corp. (MCD).
Herbalife‘s (HLF) stock is up 14% following news thatCarl Icahn took a 13% stake in the company.
A regulatory filing Thursday shows that Icahn holds a 12.98% stake in nutritional supplement distributor Herbalife�and intends to have discussions with its management on business and strategic alternatives to enhance shareholder value, including the possibility of going private.
Icahn was involved in an on-air spat with rival fund manager Bill Ackman recently; the ever-excitable financial media are suggesting this move is in large part simply a way to attack Ackman, who’s staked a good deal of his reputation in a bet against Herbalife.
Shares of Pilgrim’s Pride (PPC) were up more than 4% after it swung to a fourth-quarter profit:
Pilgrim’s has bounced back in recent quarters from a particularly difficult 2011, when it posted a streak of losses due to surging feed costs and weak prices for chicken meat during a historically large glut in supplies. The downturn was part of a long-running boom-and-bust cycle that has over many years forced chicken processors to consolidate or shut down.
Regular readers will recall that I highlighted Pilgrim’s rebound on this blog in late November.
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