Berkshire Hathaway (NYSE:BRK) disclosed its long-awaited Schedule 13F/HR today containing Warren Buffet's latest holdings. Among other things, the document showed that the Oracle of Omaha has loaded up on Dow Jones shares while hiding his stake in two railroad companies.

The Schedule 13F/HR statement showed new stakes in Bank of America (NYSE:BAC) and Dow Jones (NYSE:DJ). The famous investor also raised his stakes in several companies, including Johnson & Johnson (NYSE:JNJ), Nike Inc. (NYSE:NKE), Proctor & Gamble (NYSE:PG), US Bancorp (NYSE:USB) and others. Buffet appears to be bullish on banking stocks while taking a short-term position in Dow Jones despite his bearish sentiment on the newspaper business.

Interestingly, Warren Buffet decided to request permission from the SEC to not disclose its railroad holdings in Union Pacific (NYSE:UNP) and Norfolk Southern (NYSE:NSC). These requests are somewhat standard for Buffet given his widespread notoriety, but still led to much speculation as to his plans for the companies. Railroads have become a target for many investors as many remain substantially undervalued.

In the end, Warren Buffet's list of holdings continue to have an impact on investors. Watching Berkshire Hathaway's Schedule 13F/HR and Form 4s can be extremely useful in tracking the activity of the famous investor. You can setup free email and RSS alerts to track his holdings and more at SECFilings.com!

Unisys Corporation (NYSE:UIS) is set to move higher today after MMI Investments filed to boost its stake in the company above 10 percent but not more than 15 percent. The Hart Scott Rodino Antitrust Act required the activist hedge fund to seek permission before making its purchase, which gives investors a chance to jump on the opportunity.

Unisys is a worldwide technology services and solutions company whose consultants assist clients with general consulting, systems integration, outsourcing, infrastructure, and server technology. The company's stock is currently trading at $7.53 slightly off of its 52-week high earlier this year of $9.70.

A glance at the financials shows that the company is trading slightly below enterprise value with a P/E multiple of 17x - below the industry's 24x. It is also worth noting that the company has approximately $520 million - or $1.49 per share. This has led to speculation that MMI may be interested in unlocking value for shareholders through a special dividend or share repurchasing using the company's substantial amount of cash.

Unfortunately, the company faces negative quarterly growth, a paltry 1.78% ROA and a -19.83% ROI. These numbers point to a company that is struggling to operate cleanly and efficiently and that is also facing problems extracting revenues from its customers. As a result, MMI may have to work to help the company turn itself around before any value can be had from the company's pile of cash. However, this situation is definitely one worth watching!

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Metromedia Inc. (OTC:MTRM) shares rose marginally today after Fursa reiterated its plee that shareholders refrain from tendering their shares to an existing $1.80 per share buyout offer because they are planning on offering $2.05 per share - a 14% premium. Here is a copy of their letter:

Dear Metromedia Stockholder:

We at Fursa Alternative Strategies (“Fursa”) would like to take this opportunity to reiterate our proposal to acquire Metromedia International Group, Inc. (“Metromedia”) for $2.05 per common share. Our due diligence process is well under way, and we anticipate finishing shortly.

We strongly urge all Metromedia stockholders NOT to prematurely tender their shares, and that those who have tendered withdraw their shares until Fursa can complete the due diligence and finalize its offer. If CaucusCom Ventures L.P. and CaucusCom Mergerco Corp (“CaucusCom”) receive fewer shares than required to satisfy the Minimum Condition (as defined in the merger agreement), they are required to extend their tender offer under the terms of the merger agreement, and cannot terminate the merger agreement. Holding your shares will provide Fursa with the opportunity to complete its due diligence process, and it will provide you with the opportunity to review all information regarding Fursa’s superior $2.05 per share cash proposal.

Fursa’s proposed tender offer is superior to the offer from CaucusCom, in that Fursa’s proposal of $2.05 per common share represents a 14% premium over CaucusCom’s $1.80 per share cash offer, while keeping all other terms and conditions, including, without limitation, the same structure (tender offer with a backend merger), representations, warranties, covenants and conditions.

Furthermore, Fursa is highly confident in its ability to obtain the necessary financing for a transaction.

Thank you very much for your support. We look forward to finalizing our offer soon.

Sincerely,

William F. Harley, President

Clearly shareholders stand to benefit if Fursa is successful in either succeeding in its own $2.05 bid or forces the other bidder to up their bid. This makes MTRM a stock worth watching!

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China Security and Surveillance Technology (OTC:CSCT) shares may soon get a much needed boost from Conrad Bringjourn's Clinton Group. The activist hedge fund sent a letter to the company commending management's execution to date but cautioning that its shares were substantially undervalued. Shareholders are hoping that the hedge fund can work with CSCT to unlock value for everyone.

China Security and Surveillance is trading below its value for several reasons. First, the company is traded over-the-counter which makes it much less liquid and thus less preferable for investors. Secondly, there is very little in terms of analyst coverage or investor relations, which makes it difficult for investors to find the company. Combined, these factors have led to a company that is trading at just 12.1x consensus 2008 EPS with a PEG of only 0.4x - making the stock extremely undervalued given management's execution!

The Clinton Group offered to help the company obtain a timely listing on the New York Stock Exchange (NYSE) that would help it enable it to offer investors greater liquidity while also attracting more attention. More, E-House China's recent IPO on the NYSE and subsequent dramatic rise is a clear indication of Wall Street's appetite for successful Chinese firms. Shareholders are hoping for similar results from this company after a listing.

The Clinton Group offered to support and advise the company in finding two independent directors as well as introducing the company to equity research analysts and prominent investment banks. If successful in generating additional interest and liquidity in the company, CSCT could see a substantial rise in share value. This makes the stock one worth watching!

United Online (NDAQ:UNTD) shares moved up $1.06, or 7.95%, to $14.40 in early trading today after the company filed an S-1 with the SEC yesterday indicating that it would IPO its Classmates.com holdings and raise $125 million. Many investors are speculating that this IPO would prove to be a boom for the struggling dial-up internet provider.

Classmates.com is a social networking website that connections alumni with eachother. The segment reported revenues of $42.4 million in the quarter ending in March on a loss of $250,000. And the business is only continuing to grow with revenues in 2006 topping $139 million. Revenues this year are expected to come in at around $200 million or more.

Given the valuations being thrown around by Facebook.com and others in the social networking space it would not be unreasonable to put a 5x revenues valuation on the company. Assuming revenues of around $200 million this year, the company could be worth as much as $1 billion. Obviously this is great news for United Online shareholders as their entire company is worth just under $1 billion itself.

Whether or not this IPO sees a tremendous amount of success remains to be seen; however, given the strength of the social networking space and the fact that this company has a leading market position makes UNTD a stock worth watching!

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TXU Corp. (NYSE:TXU) is set to begin its road show today garner support for a $32 billion buyout by private equity investors, indicating concern about whether it will be able to drum up the necessary 2/3 vote to seal the deal. The deal put together by KKR and TPG values TXU shares at $69.25 a piece - a 25% premium to the predeal share price. However, some shareholders aren't so sure that this is the best route to unlock value.

Many investors are concerned that the company negotiated the buyout price while it was under fire for building 11 coal power plants while also facing criticism for excessive executive compensation. Moreover, the outlook for the U.S. power market has improved substantially since the deal was announced last Spring. Combined, these factors seem to imply that the buyout offer may now be too low to be justified.

As a result, some investors believe that TXU should pursue a split-up instead where it would be divided into three businesses - an energy-driven wires business, a power-generation business, and an energy retailer. Te company came out strongly against such ideas in its proxy filing yesterday where it indicated that a buyout represents a much better deal for shareholders. However, the company said that if the buyout wasn't approved, this was the route that it would take.

Whether or not the company can drum up enough support to go through with their buyout offer remains to be seen. However, the possibility of a split-up or increased buyout offer make TXU a stock that is definitely worth watching!

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Commerce Energy Group (AMEX:EGR) shares moved up $0.04, or 1.84%, to $2.21 today after Daniel Zeff disclosed a 10.7% stake in the company and issued a letter to the company's board of directors. Zeff expressed his concern that the company's operating performance is significantly below its potential performance. Consequently, he has petitioned the company to consider a variety of strategic alternatives including a cash merger.

Daniel Zeff's letter expressed particular concern over the company's apprent rejection of a standing $2.50-$2.75 offer for the company from Universal Energy. Without explanation, the company apparently not only rejected the offer but failed to even consider it. Clearly, this is a violation of the board of director's fudiciary duty to shareholders.

Here is a copy of the entire letter sent:

Why have you not responded to my letter regarding the cash takeover offer for our company?

Steve Boss, the company's CEO, Charles Bayless, a director, and Lawrence Clayton, the company's former CFO, have made it clear to me in personal conversations that Universal Energy's recent expression of interest to acquire the company in a cash buyout for $2.50-$2.75 was reasonable and should be explored. It is also clear that there are other potential acquirers of our company and that all reasonable offers should be explored.

Without explanation of the company's rejection or consideration of Universal's offer and other potential offers, I must assume that you are shirking your fiduciary responsibilities. The Board has an obligation to carefully investigate, evaluate and respond to the expression of interest in light of the company's other alternatives. Before your former CFO left the company, I am told that Mr. Clayton wrote to the Board that he believes you are acting against shareholder interests by not exploring a sale at this time.

Commerce Energy's Board appears to be split on the issue of exploring a sale, and with an even six members, the Board is ineffectual. It has become apparent to me that you, and Directors Gary Hessenauer and Mark Juergensen are improperly delaying and obstructing the process of exploring reasonable offers for the company that could create shareholder value.

You continue to hide behind your legal counsel and your "processes and strategies in place" to avoid thorough consideration of a sale of the company and, more egregiously, to advance your own interests. Those interests appear to include a potential replacement of the CEO with Mr. Hessenauer. Mr. Hessenauer
was apparently involved in the last CEO search (that resulted in Mr. Boss' hiring) and was outside of the top ten candidates considered.

The Board must take action now to break this deadlock and to move forward with a sale of the company, by removing yourself and other directors acting against shareholders, and by adding a new member to the Board. I hereby re-submit Mr. Andrew Dailey as a nominee for the Board. I previously submitted his name for nomination to CEO, Steve Boss.

Commerce Energy's shareholders do not have the luxury of time and must consider takeover offers now, before the planned August 17 Board meeting and
before any potentially  damaging new management changes take place. Mr. Hessenauer offered to hold a special meeting for me with the independent Board members (which includes all members except Steve Boss) at the end of August. I demand that you respond publicly now and with your current CEO involved.

Bob, your actions appear to be personally  motivated or simply irrational, particularly in light of your minor personal holdings in Commerce Energy and the Board's meager 2% position in the stock. Why are you not acting on behalf of the real owners of this company? Zeff Capital Partners owns 10.7% of the stock and yet you refuse to respond to our inquiries or act in our best interests. It has also become clear that you do not fully understand how customer attrition will be affected by operational changes (i.e. firings) that you may seek at the company. So, not only will your  actions damage EGR's shareholders, but our employees and our customers as well. Bob, this is not the right job for you and I ask again that you remove yourself from the Board of Directors of Commerce Energy Group.

Whether you are removed from the Board or an additional seat is added, Commerce Energy's directors must act in the shareholders' best interests and
move forward with a sale of the company.

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Brink's Company (NYSE:BCO) shares moved down marginally today after Thomas Hudson's Pirate Capital disclosed a 4.5 percent stake and issued a letter to the board of directors. In the letter, the activist hedge fund revealed a DF King & Co. survey of Brink's shareholders showing widespread support for its proposed breakup of the company.

Hudson's Pirate Capital is a well-known activist hedge fund that specializes in unlocking value by forcing companies to undergo unusual corporate transactions like spin-offs, breakups, sales or rights offerings. The fund has been pressuring Brink's to break up its company and has now proven that it has sufficient support for the idea. It is worth noting that any split-up would likely generate millions of dollars in additional value for shareholders.

The survey of over 90 percent of the company's shareholders showed that nearly 50 percent of them would support a breakup while 66 percent would want the company to explore a potential breakup. This should be enough support to force the company to at least explore the possibility, which will likely lead to a vote if it turns out to be as good of a deal as Pirate Capital believes.

Pirate Capital also criticized the Chairman and CEO of the company by stating that shareholders may be prone to voting him out of office at the next election, reasoning that if he spent less time driving around in company cars, flying in the company jet, or playing golf at the corporate golf course he would have time to listen to shareholders.

In the end, this next annual meeting should be an interesting one as management and shareholders square off to determine the future of the company. Given the potential for a breakup or sale transaction, BCO is definitely a stock that shareholders should be watching closely!

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Amgen Inc. (NDAQ:AMGN)  shares dropped $0.79, or 1.55%, today after the company announced that it is weighing its cost cutting options designed to counteract the declining sales of its best-selling amnesia drug. The biotech company is consider, among other things, slowing its research and development programs, tighten capital projects, and a rumored layoff of 20,000 employees. Shareholders are hoping that such efforts can help the company turn itself around and jump the share price.

Amgen saw sales of its top-selling Aranesp amnesia drug drop 19% to $578 million in the second quarter from $713 million a year earlier. The company said it was taking action, however, to restore Amgen by adjusting their cost basis to be more in line with revenue growth, seeking efficiencies, and making "tough-minded" choices. Through trimming the growth of operating expenses and suspending some of its capital projects, the company hopes to improve.

In the end, if the company is able to reduce its operating expenses and jump its earnings per share enough to compensate for poor sales, it could mean significant share appreciation for shareholders. This makes AMGN a stock worth watching!

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Vonage Holdings' (NYSE:VG) cost cutting efforts may have helped it preserve some money during its intense legal battle, but the company's subscriber growth suffered substantially. The broadband telephone company announced a 55 percent reduction in its quarterly loss but suffered a 66 percent reduction in net subscriber growth. Shares gained over 10 percent on the news, however, as investors applauded the company's cost savings.

Meanwhile, Vonage's patent dispute with telecom giant Verizon Communications (NYSE:VZ) is not showing signs of letting up. Verizon recently received a favorable ruling that barred Vonage from adding new subscribers, which could be a potentially deadly turn of events for the new company. Vonage won a stay, however, while the case is being appealed. Unfortunately, the loss of the appeal could also lead to Vonage being forced to pay heavy fines to Verizon for patent infringement.

Many other investors are concerned about the perception that a legal battle will cast a negative shadow on Vonage's reputation with customers and shareholders. But this appears to be the smallest of the problems facing the company. Through cost savings, the Vonage hopes to stay afloat long enough to save its business and win its appeal against Verizon. Whether or not this happens remains to be seen, but this stock is definitely one to watch in the meantime!

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