Diamonds and Dogs
11/12/14Susquehanna Bancshares Inc. (SUSQ)
Susquehanna Bancshares is a high flyer today, up 33.35% to $13.20. The bank saw its shares soar after news that BB&T would purchase Susquehanna for $2.5 billion. Susquehanna stockholders will receive 0.253 share of BB&T common stock and $4.05 in cash for each share. The deal represents a 39% premium to Susquehanna's closing price yesterday. BB&T, which is North Carolina's second largest bank sought after the deal to help expand its Mid-Atlantic business. Shares of Susquehanna hit a new 52-week high of $13.20 intraday.
Liberty TripAdvisor Holdings (LTRPB)
Liberty TripAdvisor is crashing and burning today, down 25.86% to $25.08. The vacation company and owner of TripAdvisor saw its shares fall after reporting a decline in net income. Net income came in at $54 million, or $0.37 per share, down 4% year-over-year. While other aspects of the company's earnings report were better than expected the decline in net income seems to be worrying investors. Shares of TripAdvisor fell over $8.00 but are still well above their 52-week low of $19.64.