Morning Links: 19 January 2007

Institutional shareholder of Comdata parent seeks its spinoff and fears that its top management may be run off, Caremark makes the 'Five Dumbest' list again, Pinnacle Financial reports fourth quarter numbers, and more...

Email | Print By Walker Duncan

Hedge fund Pershing Square Capital Management is taking on Ceridian Corp. over the future of locally-based Comdata — fund sent a letter to the Minn. company expressing fear that it is about to run off valued top managers from Comdata, which provides a good deal of Ceridian’s cash flow; shareholder evinces a strong distaste for the conglomerate business model favored by recently appointed CEO Kathryn Marinello and advocates spinning off Comdata into an independent company

Caremark makes TheStreet.com’s “Five Dumbest” list for the second week in a row—this week the company earns the honor for the constantly changing estimates for operating synergies that will be created by a combined CVS and Caremark

Pinnacle Financial Partners’ fourth quarter results — earnings rose to 34 cents per share in the fourth quarter of ’06 compared with 24 cents in the same quarter of ’05, an increase of 42 percent

CBRL Group adopts 10b5-1 Plan to repurchase another $100 million worth of its stock — company recently completed a Dutch auction repurchase of $250 million of its shares