Diamonds and Dogs
4/25/14
Prestige 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.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.