Temporary Restraining Order Dissolved in Michigan

Delay Costing West Virginia State Pension Fund, Other Shareholders $1 Million a Day

Manor Care Inc. (HCR) opened at 62.32. So far today, the stock has hit a low of 62.04 and a high of 64.81. HCR is now trading at 62.77, up 0.74 (1.19%). The stock hit its 52 week high of 68.86 in May and set its 52 week low of 46.07 in January. HCR has been generally up for the past year. The Health Care Authority decided today to delay Carlyle Group's $6.3 billion buyout of Manor Care until the first quarter of 2008 on market concerns and regulatory delays. Technical indicators for the stock are bearish and steady while S&P gives HCR a neutral 3 STARS (out of 5) hold rating. If you’re looking for a hedged play on this stock, consider a January bull-put credit spread below the $50 range. HCR stock could fall up to 20.3% before expiration and this position would still be profitable.[RHF - Seven Summits Strategic Investments NewsBite]

Visit StreetInsider.com at http://www.streetinsider.com/news.php?st=p&id=3080342 for the full story.

Visit StreetInsider.com at http://www.streetinsider.com/news.php?st=p&id=3029454 for the full story.

Manor Care Inc. (HCR), a provider of short-term post-acute services and long-term care, was the target of a $4.9 billion offer from private equity firm Carlyle Group. The stock price fell $1.07 to $64.22.

UPGRADES

Citrix Systems CTXS RBC Capital Mkts Sector Perform » Outperform
Viacom VIA.B JP Morgan Neutral » Overweight
Agilent A JP Morgan Neutral » Overweight
Broadcom BRCM Citigroup Hold » Buy
Eaton ETN Friedman Billings Mkt Perform » Outperform

DOWNGRADES

Electronic Arts ERTS Broadpoint Capital Buy » Neutral
Vistaprint VPRT Stifel Nicolaus Buy » Hold
Overstock.com OSTK Stifel Nicolaus Hold » Sell
Amazon.com AMZN Stifel Nicolaus Hold » Sell
Biogen Idec BIIB BWS Financial Hold » Sell
POZEN POZN Broadpoint Capital Neutral » Underperform
Knight Transportation KNX BB&T Capital Mkts Buy » Hold
Biogen Idec BIIB Piper Jaffray Market Perform » Underperform
THQ Inc THQI UBS Buy » Neutral
Syngenta SYT Lehman Brothers Overweight » Equal-weight
Tektronix TEK JP Morgan Overweight » Neutral
SRA Intl SRX Citigroup Buy » Hold
General Motors GM Bear Stearns Peer Perform » Underperform
Navigators Group NAVG Friedman Billings Outperform » Mkt Perform
Tektronix TEK McAdams,Wright,Ragen Buy » Sell
HCR Manor Care HCR Friedman Billings Outperform » Mkt Perform

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Here is late yesterday's and this mornings analyst calls

Upgrades:


Trump Entertainment TRMP Brean Murray Hold » Buy

Avon Products AVP Bernstein Underperform » Mkt Perform

Siemens AG SI Lehman Brothers Equal-weight » Overweight

Northstar Realty NRF Wachovia Mkt Perform » Outperform

Business Objects BOBJ UBS Neutral » Buy




Downgrades:

Toll Brothers TOL Citigroup- Buy » Hold

Ryland Group RYL Citigroup- Buy » Hold

Pulte Homes PHM Citigroup- Buy » Hold

Lennar LEN Citigroup- Buy » Hold

KB Home KBH Citigroup- Buy » Hold

DR Horton DHI Citigroup- Buy » Hold

Hovnanian Enterprises HOV Citigroup- Buy » Hold

Camden Property CPT UBS- Buy » Neutral

BRE Properties BRE UBS- Buy » Neutral

Cache CACH Sun Trust Rbsn Humphrey Buy » Neutral

HCR Manor Care HCR Wachovia Outperform » Mkt Perform

Caterpillar CAT UBS Neutral » Reduce

Filed under: Deals, Products and services, Industry, Private equity industry

This was an odd morning. I am not sure if the weird factor was that a senior care company was finally being acquired or that there was no real premium to the deal. The Carlyle Group is acquiring Manor Care (NYSE: HCR) in a $4.9 billion acquisition, or $6.3 billion if you include the debt assumption.

Shareholders will receive $67 per share, assuming shareholders approve it. "No-Premium" deals are harder for new shareholders to stomach, but older shareholders will be able to cash out since the stock jumped roughly 20% back in April after word of a deal had come to light when the company announced it was exploring strategic alternatives.

Manor Care employs almost 60,000 people and operates more than 500 facilities in nursing and rehabilitation centers, assisted living facilities, outpatient rehabilitation clinics, and hospice and home care agencies. If you consider the looming retirement of the baby boomers, all of these facilities offer a considerable value.

It sure seems like the price of poker, or bingo in this case, just went up. You expect more consolidation in a cottage industry that is about to become a secular group.

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.

A weak PPI report released on Friday, which hinted that fears of rising inflation were not warranted, was all that was necessary to send the bulls into a buying mode following Thursdays sell off. As has been the case of late, buyers were not far from the sidelines, waiting for an opportunity to take advantage of the sell off and extend the market’s recent winning streak.

Year-to-date, the Dow is up 6.9% while the NASDAQ has gained 6.1% and the S&P 500 Index is up 6.2%. On Friday, the Dow closed up 0.8 percent to 13,326.22 while the broader S&P 500 index moved higher 14.38 points to 1,505.85, finishing basically even for the week. The tech-heavy NASDAQ Composite closed up 28.48 points to 2,562.22, up 1.1 percent for the day but slipping 0.4 percent on the week.

Market breadth was once again positive. On the NYSE, winners topped losers 3 to 1 on volume of 1.41 billion shares. On the NASDAQ, advancers topped decliners by more than 4 to 1 on volume of 1.78 billion shares.

Bloomberg has reported that the majority of S&P 500 members having reported first quarter earnings have beaten analysts’ estimates. According to data compiled by Bloomberg, the average quarterly earnings at S&P 500 companies have climbed 12.5 percent, more than four times as much as analysts projected four weeks ago.

Treasury prices fell Friday as stocks climbed on easing inflation concerns, pushing investors away from the safe-haven of bonds. The five-year note fell 5/32 to yield 4.59%, while the benchmark 10-year note slipped 9/32 to yield 4.67% and the 30-year bond fell 14/32 to yield 4.85%. In currency trading, the Euro bought $1.3524, up from $1.3485 late Thursday. The U.S. Dollar bought ¥120.12, up from ¥120.06 the previous session. On the commodity front, oil futures rose 56 cents to settle at $62.37 a barrel, and now are up 2.2% on the year.

The AAS Market Model turned Bullish as of the close Friday, April 27, 2007. The total universe of stocks, ETF’s and mutual funds which we review on a daily basis is 1836. Of those reviewed, 557 are rated "Buy," 634 are rated "Sell" and 645 "Neutral.” We continue to recommend a portfolio allocation level of around 75% invested and 25% cash.

With that in mind, the number of AAS Buy rated Markets, Style Box and Sectors have increased both in frequency and in AAS Rating Score strength. In recent weekend reports we have focused on providing you with additional detail focused on a top-down approach to security selection. Today we would like to introduce another approach based upon the strength of the AAS Rating Score.

The first step was a screen for the 557 stocks currently rated an AAS Buy. We sorted them highest to lowest and then created a list of the Top 100 securities from that process. This smaller list was then sorted first by the One-Year AAS Score then secondly by the Five-Day AAS Score. The top 20 securities ranked by this process are listed below, we invite you to take a look at their recent price charts for alpha confirmation. If you are interested in the full list please submit an email request to info@Alpha-Advisor.com.

Cryolife Inc (CRY), AeroPostale (ARO), Apple Computers Inc (AAPL), USX-U S Steel (X), Central Vermont Public Service Corp (CV), Pre Paid Legal SVCS (PPD), Dollar Tree Stores Inc (DLTR), Chaporral Steel (CHAP), CROCS INC (CROX), Big Lots Inc (BIG), Manor Care Inc (HCR), Lubrizol Corp (LZ), Cleveland Cliffs Inc (CLF), Woodward Governor Co (WGOV), Tiffany & Co (TIF), Cummins Inc (CMI), Constellation Energy Group (CEG), Paccar Inc (PCAR), Entergy Corp (ETR) and lastly Franklin Resources Inc (BEN). Five members of this group happen to also be members of the AAS Model Stock Portfolio currently.

The symbols are listed in the descending order of Price Change over the past 5 trading sessions. While reviewing these charts keep in mind that the benchmark for the newsletter is the S&P 500 Index which was virtually flat for the past week and up 13.81% for the trailing twelve month period (252 Trading Sessions).

Additional information on our firm may be found by clicking the following link, Alpha Advisor Service, LLC. Information concerning the availability of our newsletter is available by clicking AAS Information. Or you may submit your questions to info@Alpha-Advisor.com.

Short-Term Technical Indicators

Investor Sentiment

Long-Term Market Model – Bullish since April 27, 2007

Asset Allocation Recommendation – AAS Model Portfolios are allocated at 75% cash and 25% long.

Top Alpha Generating Securities
Date = Date of AAS “Buy” or “Short/Sell” Recommendation

Top AAS Rated Major Market – Diamonds Trust, Series 1 (DIA 5/3/07)

Top AAS Rated Style-Box for Alpha – iShares Morningstar Mid Cap Core (JKG 3/20/07)

Top AAS Rated Sector for Alpha – iShares Dow Jones U.S. Utilities (IDU 3/12/07)

Top AAS Rated Long Stocks for Alpha

Crocs, Inc. (CROX 5/9/07)

Chaparral Steel Co. (CHAP 11/1/06)

Amazon.com, Inc. (AMZN 3/21/07)

U.S. Steel Corp. (X 2/28/07)

Apple Inc. (AAPL 4/24/07)

Varian Semiconductor (VSEA 3/27/07)

Cleveland-Cliffs Inc. (CLF 11/17/06)

Pre-Paid Legal Services Inc. (PPD 3/7/07)

Cummins Inc. (CMI 1/31/07)

Manitowoc Co. Inc. (MTW 3/16/07)

Top AAS Rated Short Stocks for Alpha

Google, Inc. ( GOOG 12/18/06)

The Corporate Executive Board Co. ( EXBD 12/1/06)

Rogers Corp. ( ROG 12/6/06)

Rohm and Haas Co. ( ROH 12/13/06)

Public Storage Inc. (PSA 2/28/07)

Review of Last Week’s Top AAS Rated Stocks

A weak PPI report released on Friday, which hinted that fears of rising inflation were not warranted, was all that was necessary to send the bulls into a buying mode following Thursdays sell off. As has been the case of late, buyers were not far from the sidelines, waiting for an opportunity to take advantage of the sell off and extend the market’s recent winning streak.

Year-to-date, the Dow is up 6.9% while the NASDAQ has gained 6.1% and the S&P 500 Index is up 6.2%. On Friday, the Dow closed up 0.8 percent to 13,326.22 while the broader S&P 500 index moved higher 14.38 points to 1,505.85, finishing basically even for the week. The tech-heavy NASDAQ Composite closed up 28.48 points to 2,562.22, up 1.1 percent for the day but slipping 0.4 percent on the week.

Market breadth was once again positive. On the NYSE, winners topped losers 3 to 1 on volume of 1.41 billion shares. On the NASDAQ, advancers topped decliners by more than 4 to 1 on volume of 1.78 billion shares.

Bloomberg has reported that the majority of S&P 500 members having reported first quarter earnings have beaten analysts’ estimates. According to data compiled by Bloomberg, the average quarterly earnings at S&P 500 companies have climbed 12.5 percent, more than four times as much as analysts projected four weeks ago.

Treasury prices fell Friday as stocks climbed on easing inflation concerns, pushing investors away from the safe-haven of bonds. The five-year note fell 5/32 to yield 4.59%, while the benchmark 10-year note slipped 9/32 to yield 4.67% and the 30-year bond fell 14/32 to yield 4.85%. In currency trading, the Euro bought $1.3524, up from $1.3485 late Thursday. The U.S. Dollar bought ¥120.12, up from ¥120.06 the previous session. On the commodity front, oil futures rose 56 cents to settle at $62.37 a barrel, and now are up 2.2% on the year.

The AAS Market Model turned Bullish as of the close Friday, April 27, 2007. The total universe of stocks, ETF’s and mutual funds which we review on a daily basis is 1836. Of those reviewed, 557 are rated "Buy," 634 are rated "Sell" and 645 "Neutral.” We continue to recommend a portfolio allocation level of around 75% invested and 25% cash.

With that in mind, the number of AAS Buy rated Markets, Style Box and Sectors have increased both in frequency and in AAS Rating Score strength. In recent weekend reports we have focused on providing you with additional detail focused on a top-down approach to security selection. Today we would like to introduce another approach based upon the strength of the AAS Rating Score.

The first step was a screen for the 557 stocks currently rated an AAS Buy. We sorted them highest to lowest and then created a list of the Top 100 securities from that process. This smaller list was then sorted first by the One-Year AAS Score then secondly by the Five-Day AAS Score. The top 20 securities ranked by this process are listed below, we invite you to take a look at their recent price charts for alpha confirmation. If you are interested in the full list please submit an email request to info@Alpha-Advisor.com.

Cryolife Inc (CRY), AeroPostale (ARO), Apple Computers Inc (AAPL), USX-U S Steel (X), Central Vermont Public Service Corp (CV), Pre Paid Legal SVCS (PPD), Dollar Tree Stores Inc (DLTR), Chaporral Steel (CHAP), CROCS INC (CROX), Big Lots Inc (BIG), Manor Care Inc (HCR), Lubrizol Corp (LZ), Cleveland Cliffs Inc (CLF), Woodward Governor Co (WGOV), Tiffany & Co (TIF), Cummins Inc (CMI), Constellation Energy Group (CEG), Paccar Inc (PCAR), Entergy Corp (ETR) and lastly Franklin Resources Inc (BEN). Five members of this group happen to also be members of the AAS Model Stock Portfolio currently.

The symbols are listed in the descending order of Price Change over the past 5 trading sessions. While reviewing these charts keep in mind that the benchmark for the newsletter is the S&P 500 Index which was virtually flat for the past week and up 13.81% for the trailing twelve month period (252 Trading Sessions).

Additional information on our firm may be found by clicking the following link, Alpha Advisor Service, LLC. Information concerning the availability of our newsletter is available by clicking AAS Information. Or you may submit your questions to info@Alpha-Advisor.com.

Short-Term Technical Indicators

Investor Sentiment

Long-Term Market Model – Bullish since April 27, 2007

Asset Allocation Recommendation – AAS Model Portfolios are allocated at 75% cash and 25% long.

Top Alpha Generating Securities
Date = Date of AAS “Buy” or “Short/Sell” Recommendation

Top AAS Rated Major Market – Diamonds Trust, Series 1 (DIA 5/3/07)

Top AAS Rated Style-Box for Alpha – iShares Morningstar Mid Cap Core (JKG 3/20/07)

Top AAS Rated Sector for Alpha – iShares Dow Jones U.S. Utilities (IDU 3/12/07)

Top AAS Rated Long Stocks for Alpha

Crocs, Inc. (CROX 5/9/07)

Chaparral Steel Co. (CHAP 11/1/06)

Amazon.com, Inc. (AMZN 3/21/07)

U.S. Steel Corp. (X 2/28/07)

Apple Inc. (AAPL 4/24/07)

Varian Semiconductor (VSEA 3/27/07)

Cleveland-Cliffs Inc. (CLF 11/17/06)

Pre-Paid Legal Services Inc. (PPD 3/7/07)

Cummins Inc. (CMI 1/31/07)

Manitowoc Co. Inc. (MTW 3/16/07)

Top AAS Rated Short Stocks for Alpha

Google, Inc. ( GOOG 12/18/06)

The Corporate Executive Board Co. ( EXBD 12/1/06)

Rogers Corp. ( ROG 12/6/06)

Rohm and Haas Co. ( ROH 12/13/06)

Public Storage Inc. (PSA 2/28/07)

Review of Last Week’s Top AAS Rated Stocks