Friday, September 29, 2006

Quick Update

Last night, another SEC filing was submitted detailing additional purchases of Micro-Fineline Electronix (MFLX) by Michael Roth and Brian Stark of Stark Investments. They continue to add to their positions. The question is what their motives are... some are speculating that they are driven by other interests, notably their interest in the MFLX's proposed acquisition of Singapore-based MFS Technology, which MFLX has since decided was not in their best interest to pursue. If things continue to be as murky as they are, I'll call this a mistake and exit while the exiting is good. However, I still feel this company's worth more than it is currently trading for.

Yesterday, the long-awaited opening of San Francisco's Westfield Shopping Mall took place. I'm thinking about checking it out soon. Mostly, I'm curious to see how the Martin + Osa store looks. But, I might have to wait a while, as crowds might be crazy large during the opening weekend.

Recent approval of slot machines at the Pennsylvania racinos is really good news for gaming companies. Harrah's (HET) should benefit, as they own this one in Chester, PA. Plus, I was reading Briefing, and they mentioned rumors about a leveraged buyout involving HET. No idea what that's all about, but I guess we'll know if there's anything to those rumors in time.

Finally, keep your eye on Bare Escentuals (BARE). It priced its IPO this morning at $22, which is well above the high-end of its target range of $15-17. I need to go over its prospectus this weekend, but I like what I hear about the company. The company makes upscale beauty products. It opened its first store many years ago in nearby Los Gatos, CA. The company has a lot of room to grow, as it has boutiques in less than half the states in the nation. Though, it does sell its products at popular spots including Sephora, a segment of Louis Vuitton (Paris: LVMH).

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