Diamonds and Dogs
4/25/14Prestige Brands Holdings Inc. (PBH)
Prestige Brands is soaring today, up 18.16% at $32.27. The over-the-counter healthcare and cleaning products company saw its shares jump after announcing it would acquire Insight Pharmaceuticals. Under the terms of the deal Prestige Brands will acquire Insight for $750 million in cash to expand its over-the-counter product line. Insight's product line consists primarily of Monistat and EPT (home pregnancy test). Shares of Prestige jumped nearly $5.00 today, creeping up near its 52-week high of $36.69.
Pandora Media Inc. (P)
Pandora Media's volume is getting turned down today, falling 16.63% to $23.51. The online music streamer saw its shares tumble after first quarter earnings and lower second quarter guidance. For the quarter, Pandora management announced an EPS of $0.13 on revenue of $180.1 million. Analysts were expecting the company to make $0.14 per shares on revenue of $174.9 million. Pandora's forecast for the second quarter was for an EPS of $0.00-$0.03 and revenue of $213-$218 million. Both numbers trailed Wall Street's expectations of $0.05 per share and revenue of $219.33 million. Shares of the company fell over $4.50 today, but are still well above their 52-week low of $13.74.