Diamonds and Dogs
1/4/13
Finish Line Inc. (FINL)Finish Line is going to finish last today, down 8.25% at $17.47. The shoe and apparel retailer saw its shares trip over its shoe laces after releasing earnings. Finish Line reported that net income fell to $0, or $0.00 per share, down from $0.11 per share for the same quarter last year. Analysts' were expecting an EPS of $0.10 per share. Furthermore, management announced that revenue fell 34.99 percent to $296.6 million year over year. Finish Line traded down near its 52-week low of $52.41.
SuperValu Inc. (SVU)
SuperValu is gaining value for its investors today, up 13.13% at $2.93. The wholesale grocery company saw its shares explode after news that it is close to being acquired. Cerberus Capital Management said that it was close to making a deal to purchase SuperValu. Cerberus and its partners are willing to put in $500 million in equity to help appease some of its lenders on the deal. Furthermore, Cerberus and SuperValu have agreed to the framework of the deal, which includes Cerberus purchasing some of SuperValu's chains. A deal is yet to be made and could fall apart but investors are piling into SuperValu regardless. SuperValu is still well off of its 52-week high of $8.56.
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