According to the Wall Street Journals “Heard on the Street” column some investors think it is a good time to scoop up shares of midsize telecom co’s that took a pounding in recent weeks. Those include Global Crossing (GLBC), Level 3 (LVLT) and Broadwing (BWNG). "It's mass hysteria; they're all saying: 'I don't want to be the last one out.' " said Andrew Hamerling, of XI Asset Mgmt. Mr. Hamerling said many of his hedge-fund peers are fleeing, but he is buying. "It's an incredible buying opportunity, even though I'm getting killed right now," he said.
Notablecalls: Not actionable for traders, but good to know for investors.
According to the WSJ, 4Kids (KDE) is trying to create another trading-card sensation for the 7- to 12-yo crowd. 4Kids, along with partners Apex Marketing and Draco, are expected to announce the launch of Chaotic, a game in which players use trading cards to battle each other. But in this case, the physical cards can also be transformed into online digital versions that create more variations on the game.
Notablecalls: May sound like BS, but at a time so did Pokemon and Yu-Gi-Oh.
Barron’s Online reports that several insiders are buying up shares of Restoration Hardware (RSTO). Altogether, Glenhill Capital, Restoration CEO Gary Friedman and director Damon Ball recently plunked down $7.4m to buy 1.1m shares in the open mkt.