Diamonds and Dogs
12/6/12UTi Worldwide Inc. (UTIW)
UTi Worldwide is a weak link in the chain today, down 8.22% at $12.88. The global supply chain management company saw its shares breakdown after a miss on earnings for the third quarter. Revenue for UTi Worldwide dropped 10.7 percent from $1.28 billion down to $1.26 billion. Net income was announced at $403.6 million, down 9 percent from $443.4 million. CEO, Eric Kirchner had a bleak outlook for the company saying, "Macroeconomic and freight conditions remained weak throughout our fiscal 2013 third quarter, and we see no real catalysts to drive increases in the foreseeable future." UTi Worldwide is trading just above its 52-week low today.
Akamai Technologies Inc. (AKAM)
Akamai Technologies is shooting up into the clouds today, up 10.03% at $39.06. The cloud computing company saw its shares skyrocket after news was released regarding a deal with AT&T. Akamai and AT&T announced a strategic alliance to distribute content delivery network (CDN) solutions to companies. Under the deal, Akamai said it would deploy CDN servers at the edge of AT&T's Internet protocol network and in AT&T facilities throughout the US. By deploying Akamai infrastructure within AT&T's network, end customers are expected to benefit from more efficient content routing and better delivery of digital content such as Web videos and applications. Akamai pushed up near its 52-week high today.