Diamonds and Dogs
4/7/14Vocus Inc. (VOCS)
Vocus Inc. is soaring into the clouds today, up 47.13% at $17.92. The cloud computing company saw its shares take off after news that it would be taken private. Vocus will be taken private by the private equity firm GTCR Valor Merger Sub Inc. in a $446.5 million deal. GTCR will offer $18 per Vocus share, which represents a 48% premium to Friday's close. Vocus shares hit a new 52-week high of $17.94 intraday.
World Wrestling Entertainment Inc. (WWE)
World Wrestling Entertainment is getting a smack down today, falling 14.74% at $23.89. The entertainment company saw its shares tank after a Barron's article bashed the company's new subscription model. Barron's writer Vito Racanelli argued that cannibalization concerns exist, as the new WWE Network may not gain enough subscribers to counteract the decrease in Pay-Per-View event revenue, which Racanelli feels will result in a loss for 2014. Shares of WWE lost over $4.00 today but are still well above their 52-week low of $8.56.