Diamonds and Dogs
June 13th, 2014Diamonds and Dogs
Diamond: OpenTable, Inc. (OPEN)
Friday the 13th, a day usually known for its bad luck, marks the 52-week high for our diamond, OpenTable, Inc.. OpenTable, a restaurant reservation service, was purchased by Priceline (PCLN)this morning for $2.6 billion in an all-cash deal. This comes out to be $103 per share, 46% higher than Thursday's closing price of $70.43. OpenTable's stock price surged 47% by noon after volume almost reached 7.5 million. Priceline is focusing on expanding the range of services offered to their on-the-go customers. Now, the travel-savvy company is a "one-stop solution" for travelers looking for something to eat. OpenTable will continue to operate in San Francisco as an independent business led by their management team. However, Priceline is focused on expanding OpenTable into an international service, reiterating the company's urge to grow.
Dog: Finisar Corp. (FNSR)
It looks like Finisar Corp. is a little unlucky on this Friday the thirteenth (Colgate Day). Finisar Corp closed yesterday at 25.25 and their shares are currently trading at 19.54, which is 22.61% lower from their previous close. Finisar a manufacturer of optical communication components and subsystems reported last night that they project their earnings per share for quarter one to be between 30-34 cents per share, which is far short of the consensus 41 cents per share. Although, Finisar continues to develop and release new products and they are still above their 52 week low of 13.92, so there is an upside on this unlucky Friday. Hopefully Finisar does not see a black cat in the near future and Finisar share price begins to climb again.