Barron’s Online „Inside Scoop” section reports that SAC Capital still sees value for Pacific Sunwear (PSUN), although the co's stock has jumped 55% since hitting a multiyear low this summer. SAC disclosed ownership of 3.89m shares, or a 5.6% stake. "When we see aggressive buying from a fund, especially a fund the size of SAC with their history of returns, that's a positive event for the stock," says Ben Silverman, of InsiderScore.com.
The WSJ reports that Cisco (CSCO) agreed to buy IronPort Systems, a network-security start-up, for $830m in cash and stock. The deal extends a string of acquisitions in the security field by Cisco that has been expanding beyond its original stronghold in networking hardware.