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Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

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Diamonds and Dogs

10/9/13

K12 Inc. (LRN)

K12 Inc. is getting sent to the principal's office today, down 38.42% at $17.61. The technology-based education company saw its shares drop after the lowering its guidance for 2014. K12 said that it expects it sees full-year revenue of $905 million to $925 million along with operating income of $53 million to $57 million. That was well below the analyst consensus of $988 million in revenue, while operating income estimates were about $60 million. The lower forecast lead BMO Capital and Richard Baird to downgrade the company to neutral. Shares of K12 lost over $11.00 today, but were able to stay above their 52-week low of $$15.83.

The Men's Wearhouse Inc. (MW)

Men's Wearhouse investors "are going to like the way they look" today, with shares up 27.84% at $45.05. The men's clothing retailer saw its shares skyrocket after Jos. A. Bank offered to acquire the company. Jos. A. Bank offered Men's Wearhouse $2.3 billion, in hopes that the deal would allow them to become the largest men's apparel store. The deal was an unsolicited offer that was an all-cash deal valuing Men's Wearhouse shares at $48.00, which is a 42% premium. Men's Wearhouse management decided to decline the offer stating that it undervalued the company. Although the offer was decline, investors seem to like the fact that over $2 billion was offered for the company. Shares traded to a new 52-week high of $45.56 intraday.
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