Diamonds and Dogs
7/16/13Heidrick & Struggles International Inc. (HSII)
Heidrick & Struggles is struggling today, down 17.25% at $14.78. The executive search and leadership consulting company saw its shares fall when, ironically, their CEO decided to step down. The only news surrounding CEO Kevin Kelly stepping down was Heidrick & Struggles announcing they were looking to pursue a "stand-alone strategy." Another reason that the company is trading in the red was news that the company is looking to sell itself, and is searching for its various options. Heidrick & Struggles shares were able to hold up above their 52-week low of $11.12.
SHFL Entertainment Inc. (SHLF)
SHFL Entertainment is entertaining its investors today, up 21.98% at $22.81. The gaming device company (casino linked systems and slot machines) saw their shares jump after news of a buyout. Bally Technologies offered to buyout SHFL Entertainment for $1.3 billion. Bally said the merger would enable it to expand in Asia, including China. Macau, the specially designated casino region on China's southern coast, is the world's top gambling destination and fastest growing. Bally CEO Ramesh Srinivasan said, "SHFL's intellectual property, renowned brands and industry-leading suite of diverse, high-performance products will enable us to offer an unparalleled offering of gaming products and services." SHFL shares set a new 52-week high of $22.88 intraday.