Diamonds and Dogs
5/20/14Aeroflex Holding Corp. (ARX)
Aeroflex is trading in the green today, up 25.39% to $10.42. The microelectronic company saw its shares pop after news that they would be acquired. Cobham (a British aerospace and defense company) agreed to acquire Aeroflex for $10.50 per share in cash. Cobham is making the move to gain exposure to fast-growing markets that need more data, connectivity, and bandwidth, with the deal expected to be significantly accretive to its underlying earnings in 2015. Shares of Aeroflex hit a 52-week high of $10.47 intraday.
Dick's Sporting Goods Inc. (DKS)
Dick's Sporting Goods is getting crushed today, down 17.98% to $43.60. The sporting goods retailer saw its shares fall after worse than expect earnings. The company announced revenues of $1.44 billion with an EPS of $0.50. Both numbers missed analysts' estimates of $1.46 billion and $0.52 per share. Furthermore, Dick's management lowered full year guidance; the company now expects net income of $2.70-2.85 a shares. Previous guidance was for $3.03 per shares, and Wall Street was expecting $3.08 per share. Shares of Dick's hit a new 52-week low of $43.51 intraday.