Diamonds and Dogs
11/19/12Diamond Foods Inc. (DMND)
Diamond Foods is a dog again for the second time in three trading sessions; down 11.90% at $13.33. The snack food company saw its shares down again today (even with the market moving up significantly) after being downgraded by analyst's. Last week, Diamond Foods restated their earnings after an investigation found that the company improperly accounted for payments to walnut growers. Jefferies' analyst, Thilo Wrede, cut Diamond Foods' rating to underperform from hold, and drop his price target to $10.00 from $27.00. Wrede said, "While management seems to have a viable strategy, we believe that it will take some time to show positive results and until then we prefer not to own the stock." Diamond Foods set another new 52-week low today.
Swift Energy Co. (SFY)
Swift Energy made a swift move upward today, up 10.92% at $15.84. The oil and natural gas company saw its shares rally after a better than expected third quarter earnings report. Swift Energy had mixed results in its earnings report, such as missing on revenue estimates but beating on earnings per share forecasts. The company announced revenue of $128.8 million, missing analyst's estimates of $132.7 million. However, even with the miss on revenue, Swift was able to beat on EPS with a reported EPS of $0.07. The company's EPS more than double analysts' consensus of $0.03 per share. Even with the mixed results investors seem to be favoring the company today. Swift is still far from its 52-week high of $35.60.