Diamonds and Dogs
12/7/12Big Lots Inc. (BIG)
Big Lots is having a big sell off today, down 5.72% at $28.18. The closeout retailer saw its shares get discounted after the SEC began to look into stock trades made by the CEO of the company. The Federal Bureau of Investigations and federal prosecutors are looking at whether CEO Fishman sold $10.3 million in stock in March using insider's knowledge of a coming negative corporate announcement. Fishman's trades were made one month before the company cut its sales guidance for the first quarter. Big Lots said that Fishman would be retiring once the company found a replacement for him.
Arctic Cat Inc. (ACAT)
Arctic Cat is heating up today, up 6.41% at $36.04. The snowmobile and ATV manufacturer saw its shares climb after positive consumer reaction to the company's new product. Arctic Cat created the Wildcat 4 1000, expanding its pure sport Wildcat line of recreational off-highway vehicles (ROVs). The Wildcat 4's extended chassis accommodates up to four occupants. CEO Claude Jordan said, "Consumer interest in sport ROV's continues to grow and we are committed to gaining further market share in this industry segment." Arctic Cat said that sales for the Wildcat 4 1000 will begin March 2013, and will help boost sales for the company.