Diamonds and Dogs
12/28/12Carrizo Oil & Gas Inc. (CRZO)
Carrizo Oil & Gas is burning down today, down 5.41% at $20.63. The oil and gas exploration company saw its shares fall after news it was selling its North Sea assets. Carrizo is selling its UK business and oil field in the North Sea to Iona Energy. The deal will amount to around $184 million, of which Carrizo expects to maintain $116 million after repaying debt. Both companies expect the deal to be completed before the end of January. Investors seem to think this is a bad move for Carrizo and are selling off the stock, pushing it down near its 52-week low of $19.04.
Barnes & Noble Inc. (BKS)
Barnes & Noble is seeing its stock gain momentum today, up 4.39% at $14.98. The bookstore retailer saw its shares climb higher after news of a deal regarding their NOOK tablets. British publisher, Pearson Inc, has agreed to make an $89.5 million "strategic investment" in exchange for a 5% stake in NOOK. Pearson and Microsoft are now the only two outside companies that have bought stake in the NOOK. Pearson CEO, Will Ethridge said, "[Today] is another example of our strategy of making our content and services broadly available to students and faculty through a wide range of distribution partners." Barnes and Noble has climbed well above its 52-week low of $9.35, but still is far from its 52-week high of $26.00.