Jones Apparel Group (NYSE: JNY) is an attractive takeover target, StreetInsider.com reports and Wall Street Activist suspects the company is currently receiving takeover overtures.  According to our math, JNY stock has fallen 18% in the the past three years - but that's not the news adding it to our 'must watch' list.

A report and a rumor has caught our attention. 

The Report:  An announcement several weeks ago of JNY's implementation efforts of Oracle's (NASDAQ: ORCL) retail price optimizer.  Certain to add to the bottom line of Jones Apparel as it is designed to match demand fluctuations with inventory supplies and pricing to increase gross margin dollars.

The Rumor:  Chairmen and Founder Sidney Kimmel is known for many things including his great films (United 93, Alpha Dog, etc.) and now a rumor is floating about that JNY will turn to world of entertainment to raise their ailing stock.  Overhead this week - discussions with TV studio Buzznation about a "Project Runway" style TV show to promote its brand portfolio.  And where would such a show be shot?  Rumor has it that JNY's flagship store Barneys would be the spot.