Diamonds and Dogs
Auspex Pharmaceuticals Inc. (ASPX)
Auspex Pharmaceuticals is flying high today, up 41.53% to $100.36. The biopharmaceutical company saw its shares rally after news of a buyout. Teva Pharmaceutical Industries Ltd. is buying Auspex Pharmaceuticals for about $3.2 billion in a move to strengthen its position on central nervous system condition treatments. The $3.2 billion offer represents a 47% premium to Auspex's Friday closing price, and will be an off of $101 per share. Auspex shares climbed nearly $29.50 per share to a new 52-week high of $100.86 intraday.
Nathan's Famous Inc. (NATH)
Nathan's Famous investors are finding out "that's how the cookie crumbles" today, with shares down 29.72% to $51.70. The snack food company saw its shares tank after Warren Lichtenstein's, Steel Partners disclosed that it cut its indirect position in Nathan's by 26%. The decrease in position continues a decline in the number of shares the Steel Partners has been holding and seems to be scaring investors off. Shares of Nathan's Famous fell nearly $22.00 today, but managed to hold up above its 52-week low of $47.86.