Arm Holdings plc (NDAQ:ARMHY) shares rose $0.37, or 4.32%, to $8.94 today after the company announced that it repurchased a substantial amount of its own stock during the past few days. Shareholders took this as a sign that the company feels its shares are undervalued.

The microprocessor manufacturer announced that it had repurchased 750,000 shares three times during August on the 28th, 29th and 30th. The total number of shares repurchased amounted to 2,250,000 shares at a price of roughly 315,000,000 pence. The new stake amounts to roughly a 10 percent increase in its treasury holdings.

Analysts are also bullish on Arm, which holds a leadership position in the mobile processing market. The company receives royalties on its designs that let it achieve margins of 100% and provide investors with a rapidly expanding stream of profits over the long-term. Meanwhile, the market for the company's products appears to be expanding rapidly at least in the medium term. Combined, these factors make ARMHY a company worth watching!

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Dell Inc. (NDAQ:DELL) posted earnings today showing signs of a successful turnaround after the company exceeded Wall Street estimates. Shareholders have been hoping that Michael Dell's return to the company would spark a turnaround that would help the company exit its current rut and regain its position as one of the top computer makers.

Dell reported a 46 percent jump in profit and a 4.8 percent increase in revenues for the second quarter, beating analyst expectations. Server sales were also up 14 percent along with a 20 percent increase in storage sales. Dell shares added over 2 percent today on the news.

Despite the great earnings, the computer maker still faces a number of hurdles. Analysts are predicting a slower decline in component costs for the second quarter, which could hurt earnings. The company is also continuing its internal investigation into its finances that has left many guessing. And finally, the company has had problems meeting demand for notebooks in certain colors.

In the end, Michael Dell's return to the company seems to be helping. Dell's operating results have definitely improved and the company is making progress towards resolving its other problems. Combined, these factors make DELL a stock worth watching!

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Angelica Corporation (NYSE:AGL) board members and executives may be in trouble soon after a major shareholder said it would nominate its own slate of directors during the company's next annual meeting, according to a Schedule 3D/A filing with the SEC.

Pirate Capital, which owns a 9.8 percent stake in the company, said today that it intends to nominate Thomas R. Hudson Jr. and Christopher Kelly to the board of directors at the company's upcoming 2007 annual meeting. The move follows a long history of trying to force the company to undergo changes that would unlock value for shareholders.

Interestingly, Pirate Capital has began to unwind its position in the company since April of this year. June and July showed sales amounting to 937,257 shares, which is a 15 percent reduction in its stake. Some investors are questioning why the hedge fund would cut its stake ahead of a signature battle to replace directors and implement its plans for the company.

Pirate Capital has a long history on Wall Street as being the premier activist hedge fund. Last year, the hedge fund ran into problems, however, after it reported a steep loss and several of its limited partners pulled their money forcing the fund to sell off many of its stakes at further losses. Now, Pirate appears to be back on track with a new set of activist targets.

Combined, these factors make AGL a stock worth watching!

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