Diamonds and Dogs
Emulex Corporation (ELX)
Emulex Corporation is painting the tape green today, up 25.47% to $7.97. The network connectivity and cloud company saw its shares pop after announcing a deal with Avago Technologies. Avago Technologies agreed to buy Emulex for $606 million, or $609 million net of cash and debt acquired. The deal is expected to close during the second half of Avago's fiscal year. Shares of Emulex rallied over $1.60 per share today to a new 52-week high of $8.05.
Clayton Williams Energy Inc. (CWEI)
Clayton Williams is imploding today, down 16.42% to $53.67. The oil and gas company saw its shares plummet after reporting fourth quarter earnings. For the quarter, Clayton Williams' management announced a loss of $4.3 million or -$0.35 per share, and revenue of $94.7 million. Analysts were expecting an EPS of $0.77 and revenues of $108 million. Shares of Clayton Williams fell over $10.40 today but were able to hold up above their 52-week low of $49.71.
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