Diamonds and Dogs
10/4/12NuVasive Inc. (NUVA)
NuVasive was invasive today, dragging down investor's accounts. The minimally disruptive surgical company saw its shares drop 32.85% to $15.19 after releasing a weak third quarter estimate. NuVasive said it expects about $147 million in revenue in the third quarter down from the previous estimate of $154.4 million. Analysts forecast revenue of $153.6 million. The company said its revenue was hurt by increasing discounts from competitors and an increase in coverage delays and denials from health insurers. NuVasive lost a third of its value today, but is still around $4.00 above its 52-week low.
Arch Coal Inc. (ACI)
Arch Coal is on fire today, exploding upward 7.90% to $6.69. The coal company saw its shares grow after last night's Presidential debate. During a discussion on energy policies Romney said, "I like coal. I'm going to make sure we can continue to burn clean coal." Romney's economic plan calls for North American energy independence by 2020, which translates as advocacy for coal. Arch Coal has been beat up over the past year and is still trading near its 52-week low. However with positive backing from the President, Arch Coal and other coal stocks could begin to climb again. Romney told President Barrack Obama at the debate, "People in the coal industry feel like it's getting crushed by your policies."