Diamonds and Dogs
11/5/14Elecsys Corporation (ESYS)
Elecsys Corporation is making its investors very happy today, up 80.36% to $17.26. The machine to machine communication technology company is running up today after news that it would be acquired by Lindsay Corporation. Lindsay will acquire Elecsys for $17.50 per share in cash, for a total purchase price of approximately $70.5 million. The agreement has been unanimously approved by both the Elecsys and Lindsay boards of directors. Shares of Elecsys climbed right near their 52-week high of $17.44 intraday.
Stratasys Ltd. (SSYS)
Stratasys Ltd. is printing red all over the tape today, down 11.01% to $107.90. The 3D printing company saw its shares fall over $13.00 today after lowering its 2014 earnings estimates. For the year, Stratasys foresees earnings per share of $2.21-2.31, down from its previous guidance of $2.25-2.35. Management stated that its acquisition of GrabCAD and various development costs are the leading cause for the lowered EPS. Stratasys did beat analysts' estimates for its third quarter earnings, but investors only seem to be focused on the lowered EPS.
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