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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


Apollo Group Inc. (APOL)

Apollo Group was failing all of its investors today, down 22.14% at $21.41. The parent company of the University of Phoenix saw its shares drop after releasing a poor earnings report. Apparently, not as many people are saying "I'm a Phoenix" these days, as enrollment fell 14 percent in the quarter. The lower enrollment took its toll on revenue, as well as net income. Net income declined 50% since this time last year. The lower enrollment is also causing the company to cut 800 jobs and shut down 25 campuses in an attempt to cut costs. Apollo investors are getting wacked with the ruler today, with shares dropping well below the previous 52-week low of $25.77.

Cymer Inc. (CYMI)

Cymer Inc. is shining bright today, up 49.47% at $71.49. The light-based technology company saw its shares explode today after news of an acquisition. ASML Holdings offered to purchase Cymer for $2.55 billion. The deal comes at about a 60% premium to Cymer's Monday value, consisting of $20 in cash for each share of Cymer owned plus 1.15 ASML shares. The deal is supposed to close in the first quarter of 2013, with ASML seeing a return within two years. ASML wanted to purchase Cymer to speed up the development of extreme ultraviolet semiconductor lithography, which is needed to produce next-generation mobile chips. Cymer skyrocketed $23.66 per share today, and blasted past its previous 52-week high of $62.40.
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.