Diamonds and Dogs
5/29/14The Hillshire Brands Company (HSH)
Hillshire Brands is going ham today, up 17.77% at $52.78. The meat-centric food company saw its shares take off after an buyout offer from Tyson Foods. Tyson offered Hillshire $6.3 billion which was well above Pilgrim's Pride offer for Hillshire (which is why Hillshire was up early this week). Tyson's offer will value Hillshire shares at $50 per shares, Pilgrims offer was for $45 per share. The possible bidding war has investors eating up shares today, which helped the company set a new 52-week high of $52.93 intraday.
Tilly's Inc. (TLYS)
Tilly's Inc. is not having a good day, down 16.97% to $8.79. The casual clothing, footwear, and accessory retailer saw its shares fall after worse than expected earnings and guidance. Tilly's management announced an EPS of $0.02 on revenue of $111.1 million. EPS was in-line with analysts' estimates but revenue missed by $2.1 million. For the second quarter, the company expects earnings of $0.03-0.07 a share, which significantly missed analysts' estimates of $0.13 per share. Shares of Tilly's hit a new 52-week low of $7.96 intraday.