Westamerica shares have risen nicely this year, particularly in light of banks' many woes. The stock now looks 10%-15% overvalued, and a few clouds have appeared on its horizon.

A prepackaged Chapter 11 filing, with financing guaranteed by the U.S., is the best hope for GM and Ford. Chrysler would have to become part of one of them, or of another company.

A prepackaged Chapter 11 filing, with financing guaranteed by the U.S., is the best hope for GM and Ford. Chrysler would have to become part of one of them, or of another company.

AllianceBernstein's stock, down 75% this year, could rally more than 50% in 2009 if equity markets regain their footing. The company's big investment in financials could pay off, at last.

After the SEC reviewed them a few years ago for failing to foresee Enron's and Worldcom's problems, the big rating agencies misread this year's credit markets. Change is needed.

After the SEC reviewed them a few years ago for failing to foresee Enron's and Worldcom's problems, the big rating agencies misread this year's credit markets. Change is needed.

Biogen has treatments for conditions from lymphoma to psoriasis, and is developing a long-acting version of its top-selling Avonex, another MS treatment. A sum-of-the-parts analysis performed by Cowen analyst Eric Schmidt suggests the stock is 25% undervalued, assuming no contribution from Tysabri, and 50% undervalued should Tysabri meet his peak sales estimate of $1.75 billion. Tighter expense control should support margins, and a free-cash-flow yield near 10% gives Biogen the ammunition to buy back shares or pad its pipeline with acquisitions. Just how cheap is the stock? Biogen has less debt than its peers but trades at just 10.6 times projected 2009 profits -- well below 14.5 times for the biotech sector. Carl Icahn, the billionaire shareholder featured in this week's interview, last year prodded the company to put itself up for sale. He may have been early -- there were no takers then, but Biogen is a lot cheaper now.

"I didn't think that I'd ever see Intel sell as a value stock in my entire career," says Bischel, a 32-year investment-industry veteran who now claims the chip giant as one of his largest holdings -- at about 3% of his portfolio. Intel (INTC) closed Friday at 13.80, down 50% for the year. Shares of the high-tech bellwether are trading at about 15 times forward earnings.