Eagle Materials, Inc. (NYSE:EXP) revealed some insider buying recently in several Form 4 filings with the SEC. On September 19th, Director Lawrence Hirsch purchased 400,000 shares on the open market in a transaction worth over $14 million - a significant amount for an individual. Richard Stewart, another director, revealed yesterday that he had also purchased 1,000 shares in a transaction worth over $35,000. Does this insider buying make sense?

Well, the company is the second largest maker of drywall - the very same industry that caught Warren Buffet's interest (however he's invested in the largest producer, USG Corp.). The stock's recent declines come as a result of the slowdown in residential construction, which accounts for 40-50% of the company's drywall sales; however, the company's commercial demand remains quite strong. Last quarter, the company saw a 27% rise in revenues and a 70% rise in earnings. Finally, the stock is trading at a P/E of just 11x with a PEG ratio of 0.20 and trading significantly below its enterprise value, all of which indicates that the company is severely undervalued.

Although the residential real estate market may not be doing so well right now, this company still benefits from the commercial side of the market and is available on the cheap! This stock is definitely worth keeping an eye on!

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Visteon Corporation (NYSE:VC) revealed today in a 13D/A filing with the SEC that Pardus Capital had increased its stake in the company to 14.1% and is also seeking Board representation. According to the 13D/A filing, Pardus is seeking to:

"continue to engage in discussions from time to time with management, the Board of Directors, other shareholders of the Issuer and other relevant parties concerning, among other things, the business, operations, board composition, management, strategy and future plans of the Issuer. In the context of these discussions, the Reporting Persons have raised with the Issuer the possibility of an individual suggested by them joining the board, and have been informed that the Issuer has taken this matter under advisement."

This news comes just as Visteon released an 8K filing announcing that they would cut their 2006 outlook and warned on second half sales:

"Johnston and Stebbins are expected to indicate that reductions to second- half customer production levels, changing vehicle mix, and other cost factors will challenge the company's financial results for the remainder of 2006. As a result, the company does not expect to meet the financial guidance targets announced on Aug. 1, 2006. The company currently expects second half product sales to be about 10 percent lower than first half product sales of $5.7 billion."

The company also took a blow yesterday when Valeo reportedly withdrew their bid for the company without explanation, after many speculated that the company was preparing to make an offer. Although this still remains a possibility, the Valeo management refused to make comments on the matter.

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Boeing Co. (NYSE:BA)
10K Watch
Boeing announced today in a press release that they had reached an agreement with FedEx (NYSE:FDX) to sell and modify almost 90 757's in a deal worth an estimated $2.6 billion. The acquisition is expected to have a strong impact on Boeing's earnings, while the startup expenses will not likely be material to the company.

Educate, Inc. (NDAQ:EEEE)
8K Filing
The company announced today that its CEO - along with several other officers and hedge funds - is offering $8 per share cash for the company in a bid to take the company private. The Board of Directors said it would review the bid in due time.

eHealth, Inc. (NDAQ:EHTH)
Ammended S-1 Filing
eHealth announced that its expected IPO price is between $10 and $12 per share with 5 million shares being sold. Lead underwriters include Morgan Stanley and Merrill Lynch.

Friendly Ice Cream Corp (AMEX:FRN)
Ammended 13D Filing
The company revealed today that The Lion Fund has consulted with the Chairman of the Board of Directors and management of the Company concerning the business, operations and future plans, and is seeking seats on the Board of Directors for Mr. Sardar Biglari and Dr. Philip L. Cooley.

Sizeler Property Investors (NYSE:SIZ)
8K Filing
Sizeler announced today that the bid from Compson Holdings is not as favorable as the previous bid from Revenue Properties Inc., taking into account all financial, legal, regulatory, and other information. This comes after an activist hedge fund involved with the company demanded a valuation.