Diamonds and Dogs
4/22/13First Advantage Bancorp (FABK)
First Advantage Bancorp has no advantage today, down 11.13% at $11.26. The bank holding company saw its shares fall after news that the company would cease to trade on the Nasdaq on May 10th. First Advantage released a statement stating that it would go private and use SecondMarket to facilitate stock transactions and shareholder communications. The company expects the move to create shareholder value and allow management to focus on strategic plans. Investors clearly do not want to continue to hold the company after it goes private, and are selling off their shares. First Advantage set a new 52-week low at $11.23 intraday.
Chiquita Brands International Inc. (CQB)
Chiquita brands is trading in the green today, up 10.90% at $8.04. The fresh produce company received the "Barron's bounce" today. The Barron's bounce is when Barron's writes a positive article about a company and that company climbs higher off of article alone. Over the weekend, Barron's published an article stating that Chiquita is going to focus on its banana and packaged salad productions; both of which provide the company with its largest revenue. The article stated that the change in focus could result in gains of 20% or more in the next year, and EPS could reach $0.96. Chiquita climbed $0.79 per share today, getting closer to its 52-week high of $8.82.
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