Diamonds and Dogs
6/11/13Symmetry Medical Inc. (SMA)
Symmetry Medical is looking asymmetric today, down 15.16% at $7.78. The medical device and instrument company saw its shares fall after releasing its second quarter earnings and full year guidance. For the quarter, Symmetry Medical is now forecasting that the company will earn $0.06-$0.08 in EPS on $98 million-$100 million in sales. Both figures are well below the $0.15 in EPS on $105.3 million in sales that Wall Street analysts had anticipated. Furthermore, the company lowered its full-year EPS to a range of $0.40-$0.50 on revenue of $400 million to $415 million, which again are below analysts' estimates. Symmetry Medical shares set a new 52-week low of $7.44 intraday.
Dole Food Company Inc. (DOLE)
Dole Foods is in the green today but still looks ripe for the picking, up 22.06% at $12.45. The fresh produce company saw its shares jump after its 90 year old CEO made a bid to take the company private. CEO David Murdock and his family are offering to buy the business with a bid that values the entire company at approximately $1.07 billion. The deal consists of an unsolicited offer of $12 per share for the shares of the company that they don't already own, which represents an 18% premium to Dole's closing price Monday. The news of the possible deal helped Dole shares jump $2.25 per share today.