Check the background of this firm on FINRA's BrokerCheck.

Leigh Baldwin & Co.

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

Check the background of this firm on FINRA's BrokerCheck.

Diamonds and Dogs

5/14/12

Ancestry.com Inc. (ACOM)

Ancestry.com Inc. wants to look back into its past and remember better days. Today the stock has taken a dive, down 13.72% at $22.57. The company saw its shares crash after U.S. network NBC decided not to renew the company's TV show for a fourth season. Ancestry's show "Who Do You Think You Are?" is based on the idea of tracing celebrities' family history through Ancestry.com's databases. The show which has been airing since 2010 has featured celebrities such as Steve Buscemi, Martin Sheen, Marisa Tomei and Lionel Richie. Furthermore, the show has been considered a major driver of new subscriber additions for the website. The company had about 1.7 million subscribers at end of 2011. Unfortunately, Ancestry.com is struggling today, closing just a few dollars above its 52-week low.

GolfSmith International Holdings Inc. (GOLF)

GolfSmith looks like it won the Master's, in the green (jacket), up 28.24% at $6.04. The company, Golf Town will buy Golfsmith International Holdings Inc. for about $96.5 million. Golf Town said Monday, that it was doubling its store base and significantly expanding its presence in the United States. Under the terms of the agreement, the Toronto company will pay $6.10 per share in cash. The offer represents a 30 percent premium over GolfSmith's Friday closing stock price of $4.71. Based on Golfsmith's outstanding shares of approximately 15.8 million and a price of $6.10, this puts the deals worth about $96.5 million. The sale, if approved by regulators, is expected to close in the third quarter. The boards of both companies have approved the sale, along with key Golfsmith shareholders that collectively hold the majority of its shares.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.