Diamonds and Dogs
Kraft Foods Group Inc. (KRFT)
Kraft Foods is getting eaten up today, up 35.59% to $83.15. The consumer packaged food and beverage company saw its shares rally after news of a merger with Heinz. The deal is headed by Warren Buffett/Berkshire Hathaway and 3G Capital and consists of the two companies joining forces to become the 3rd largest North American Food company, and the 5th largest in the world. Under the merger, Kraft Foods shareholders will receive a special dividend of $16.50, along with one share of Kraft-Heinz Co. stock for every one share of Kraft they hold. Shares of Kraft popped over $20.00 to a new 52-week high of $87.88.
Apollo Education Group Inc. (APOL)
Apollo Education is getting schooled today, down 28.40% to $20.04. The private education service company saw its shares tank after news of lower enrollment hurting revenue. Apollo Education announced revenue of $578.5 million or an EPS of a loss of $0.10. The University of Phoenix operator announced that the lower earnings were due to a decline of 13% in enrollment. Apollo sees third quarter revenue of $690-705 million and full-year revenue of $2.63-2.68 billion. Analysts are expecting $740.86 million and $2.73 billion respectively. Shares of the company fell nearly $8.00 to a new 52-week low of $19.82.
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