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Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

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Diamonds and Dogs

05/09/2012

Chiquita Brands International Inc. (CQB)

Chiquita Brand's stock went bananas today, crashing 28.93% to $5.70. The company saw a downward spiral come after poor first quarter earnings. The current stock price sets a three year low for the company. Chiquita Brands said that it lost 24 cents per share in the quarter, with revenue down 4 percent to $793 million. This is compared to analysts' predictions of 32 cents per share on revenue of $768.2 million. Analyst Jonathan Feeney of Janney Capital Markets cut Chiquita Brands' rating to "Neutral" from "Buy" due to its disappointing quarterly performance. Furthermore, Jefferies & Co.'s Scott Mushkin lowered Chiquita Brands to "Hold" from "Buy" and reduced its price target to $7.50 from $12. Chiquita set a new 52-week low, closing nearly two dollars lower than the previous 52-week low.

SodaStream International Ltd. (SODA)

SodaStream is sparkling today, up 26.89% at $37.04. SodaStream reported first-quarter earnings above Wall Street expectations and raised its 2012 guidance on strong sales in Europe and the Americas. The producer of home soda making machines and materials said earnings per share rose 57% to 55 cents, smashing estimates of 35 cents. The company also stated that sales rose 50% to $87.9 million, above estimates of $56.9 million. Based on the strong first quarter, SodaStream raised its full year outlook and now expects 2012 profit to increase 50% versus the previous forecast of 42%, and it expects revenue to rise 33%. The company's increase in forecast comes from, sales of soda machines increasing 15%, sales of CO2 refills up 29%, and sales of flavors soaring by 52%. SodaStream is a refreshing stock to watch today, especially as the market was down.
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