Diamonds and Dogs
Chegg Inc. (CHGG)
Chegg Inc. is schooling its short investors today, up 25.93% to $8.50. The student-first learning platform saw its shares rally after news of a deal with Ingram Content Group. Ingram will take over the textbook rental business as of May 1. Chegg plans to stop managing the physical books that it rented out to students, and to completely hand off that part of the business to the Ingram Content. The deal lead analysts' from BMO Capital Markets to upgrade the Chegg from market perform to outperform. Shares of the company climbed $1.75 today to a new 52-week high of $8.50.
Worthington Industries Inc. (WOR)Worthington Industries is melting today, down 11.86% to $26.99. The metal manufacturing company saw its shares fall after warning of significantly lower profit due to steel prices plummeting. Worthington said steel prices have dropped more than $100 a ton since mid-December. That, coupled with a major softening of demand in agriculture and oil and gas, factor in the $3.4 billion company's warning. Shares of Worthington fell over $3.60 today but were able to hold above their 52-week low of $24.02