Diamonds and Dogs
4/3/14Anadarko Petroleum Corporation (APC)
Anadarko Petroleum is on fire today, up 14.44% at $98.96. The oil and gas company saw its shares jump after news that it reached a settlement in its ongoing Tronox case. The settlement was announced to be $5-6 billion instead of the $20.8 billion that the creditors for Tronox filed for. The significantly lower settlement is seen as a big win for Anadarko, and helped the stock push to a new 52-week high of $100.00 intraday.
Barnes and Noble Inc. (BKS)
Barnes and Noble is getting crushed today, down 13.52% at $19.12. The book company saw its shares fall almost $3.00 after news was released that Liberty Media Corp. (which bought a 17% "lifeline" stake in the company) said that it was going to sell 90% of those shares to institutional buyers. Along with the bad news, Barnes and Noble noted a 50% decline in sales of its Nook for the third quarter. Shares of the company are still holding up well above their 52-week low of $12.59.