Diamonds and Dogs
12/4/14Hawaiian Electric Industries Inc. (HE)
Hawaiian Electric is shocking investors today, up 14.46% to $32.26. The electric and utility provider for the state of Hawaii saw its shares catch a spark after news it would be bought out. NextEra Energy Inc. said it plans to buy Hawaiian Electric for $2.6 billion or $4.3 billion assuming all of Hawaiian Electric's debt. NextEra management said that Hawaiian Electric shareholders will receive a fractional share in NextEra Energy stock, plus a one-time cash dividend and shares in a related spinoff company as part of the deal. Shares of Hawaiian Electric jumped over $4.00 today and set a new 52-week high of $33.50 intraday.
Christopher & Banks Corporation (CBK)
Christopher & Banks Corporation is getting hit hard today, down 28.53% to $4.91. The women's apparel retailer saw its shares fall after issuing downside guidance and missing revenue estimates. For the quarter, Christopher & Banks saw revenue fall 6.4% to $110.6 million which missed analysts' estimates of $115.7 million. Furthermore, the company sees fourth quarter revenue of $94-98 million which again is below analysts' estimates of $107.35 million. Shares of Christopher & Banks fell nearly $2.00 today to a new 52-week low of $4.85.