Diamonds and Dogs
1/17/13Williams-Sonoma Inc. (WSM)
Williams-Sonoma is burning its share price today, down 5.22% at $44.67. The home products and cookware company saw its shares fall after releasing its holiday sales and forecast. Williams-Sonoma expects to earn $1.21 to $1.28 per share for its fourth quarter on revenue of $1.36 billion to $1.4 billion, which was in line with analysts' estimates. For the company's full year forecast, management expects revenue of $4 billion or $2.45 per share. Williams-Sonoma's full year forecast missed analysts' estimates of $4.04 billion or $2.54 per share. The company is still trading in the upper half of its 52-week range of $32.67-$48.07.
K-Swiss Inc. (KSWS)
K-Swiss is running away from its lows today, up 47.65% at $4.71. The footwear and apparel company saw its shares skyrocket after news of a buyout. South Korean conglomerate E. Land World said it will buy K-Swiss stock for $4.75 a share, or a total equity value of about $170 million. E. Land had 2011 sales of about $7.1 billion through 200 brands, including Italian brands Mandarina Duck and Coccinelle, and more than 10,000 stores it operates worldwide. K-Swiss has lost more than 91% of its share value since 2005 and has continually struggled to return to its former glory. E. Land World said it will provide the company with the resources and scale to obtain its previous performance. K-Swiss is traded up to a new 52-week high.