Diamonds and Dogs
3/21/13Scholastic Corporation (SCHL)
Scholastic Corporation is not doing too hot today, as they are down nearly 15% trading at $26.49. The children's publishing, education, and media company saw a huge decline in their shares after reporting a third quarter loss which nearly doubled. The biggest impact of this enormous deficit was the shrinking demand of their best-selling "The Hunger Games" books. For the three months ended Feb. 28, Scholastic posted a loss of $20.1 million, or 63 cents per share, compared with a loss of $10.3 million, or 33 cents per share, in the year-ago quarter. Scholastic does expect however, that their digital book initiatives and the education technology products will drive profit growth starting next year. They too are still trading above their 52-week low of $25.03.
Yahoo! Inc. (YHOO)
Yahoo! for Yahoo! This global technology company was upgraded to a buy today by Oppenheimer (OPY). With this great news they are currently trading in the green today at $22.76, which is up 3% from yesterday's close. Their stock is smashing their 52-week low of $14.59 and they have almost caught up to their 52-week high of $23.09. Yahoo also has bought Silicon Valley startup company, Jybe, so it can bring back five of its former engineers to help the Internet company build better mobile applications. The deal announced today marks Yahoo's fourth acquisition of a small startup during the past five months.