Diamonds and Dogs
11/7/14Sears Holdings Corporation (SHLD)
Sears is not going down without a fight, up 33.21% to $43.52. The retailer saw its shares spike after announcing that the company would sell some of its stores to a Real Estate Investment Trust in order to raise capital. The deal consists of Sears selling 200-300 of its stores to the REIT and then leasing them back from the REIT. Shareholders will also be offered rights to buy shares of the REIT in proportion to their ownership of Sears stock. The move excited investors today, and shares climbed over $10.00 but are still well off of their 52-week high of $62.87.
Salix Pharmaceuticals Ltd. (SLXP))
Salix Pharmaceuticals is trading in the red today, down 33.98% to $91.47. The drug company saw its shares crash and burn after missing earnings estimates. Salix revenues came in at $354.7 million down 7.1% on a sequential basis and also missed analysts' estimates and its own forecast of $395 million. On a separate note, the company did announce better than expected EPS but that seems to be overlooked by investors. Shares of Salix fell over $47.00 today, but stayed above their 52-week low of $79.70.