Under The Radar News - Friday

Yahoo board splinters. An 'informal group' led by Yahoo (YHOO) chairman Roy Bostock and including billionaire Ron Burkle are becoming increasingly vocal in their opposition to CEO Jerry Yang's reluctance to sell the company to Microsoft (MSFT). "The emotional part of Yang would rather do anything but sell to Microsoft, but he doesn't have the cards to come up with a value-creating, competitive alternative for shareholders," a source says.

Buffett buys Kraft, Glaxo, Sells Iron Mountain. Berkshire's (BRK.A) stake in Kraft Foods (KFT) went from 0 to 132 million shares; he now owns 8.6% of the company. The guru also took a new 500K share stake in GlaxoSmithKline (GSK), and halved his Iron Mountain (IRM) stake to 4.7M. For Buffetteers who want all the nitty gritties, here are BRK's holdings in alphabetical order: 1, 2, 3.

Icahn shifts things around. Billionaire investor Carl Icahn dumped his 1% stake in Genzyme (GENZ) late last year. He also ditched a 1.1M share stake in The Children's Place Retail Stores (PLCE). A list of all of Icahn's $50M+ holdings.

Sprint's WiMAX: Not even jogging. Sprint (S) exec. Ali Tabassi told the Mobile World Conference Sprint's WiMAX network is behind schedule, and that the company hasn't even finalized its budget.

Palm takes a shot at RIM. Palm's latest ad: "Palm (PALM) smartphones include voice, e-mail, text, Web, calendar and contacts. And most importantly, uptime."

Foreign reserves bulge. Global foreign reserves are at their highest ever ($6.4T), and continue to grow behind huge Asian surpluses. The huge stashes mean foreign governments can potentially use their wealth to impact global financial markets, and even government policy.

Borders ditches CDs. Borders Group's (BGP) 14 new concept stores will not sell CDs; the music section has been replaced with a digital kiosk center. Borders says it's working on the kiosk's current incompatibility with Apple's (AAPL) iPod. Sure hope so.

Boeing/Tata to partner on helicopter, jet parts. Boeing (BA) and Tata (TM) are forming a JV to produce parts for fighter jets and helicopters in India.

Swap prices surge. The price of credit-default swaps jumped 6 basis points to 100 Friday as the cost of protecting banks from default surged amid worries over potential bond insurer downgrades, breakups, and even default.

Sun moves from cuts to growth. Sun Microsystems (JAVA) is moving from cost-cutting mode to growth, CEO Jonathan Schwartz says. "We're not immune to any global economic trends," he said, but "around the world we see more companies spending more time and money on technology as a vehicle to progress their business." Sun will target customers who require the most powerful systems -- those who see IT as a weapon.

Give me 100 shares and a Coke. Chipotle Mexican Grill (CMG) may be due for a bounce. Numerous firms came out in defense of the stock after the restaurateur missed earnings estimates last night.