Diamonds and Dogs
Mylan N.V. (MYL)
Mylan is watching its plot thicken today as shares climbed 8.20% to $73.63. Recently, Mylan shares rallied after news that the company was attempting to buy Perrigo Company for $29 billion. Today, Mylan shares are rallying for the opposite reason, Teva Pharmaceuticals made an unsolicited offer to buy Mylan. Under terms of the deal, Teva will pay Mylan shareholders $82 per share (a 21% premium over Mylan's Monday closing price), making the deal worth around $40 billion. Shares of Mylan rallied over $5.50 and set a new 52-week high of $74.90 intraday.
Harley-Davidson Inc. (HOG)
Harley-Davidson's wheels are falling off today, down 9.66% to $55.80. The motorcycle company saw its shares fall after announcing earnings. Harley-Davidson reported earnings of $1.27 a share for the first quarter, above analysts' estimates of $1.25 a share. Revenue fell 3.8% year over year to $1.51 billion for the quarter, compared to analysts' estimates of $1.59 billion. For the second quarter 2015, the company expects to ship 83-88,000 motorcycles which is down significantly from its Q2 2014 number of 92,217. Shares of Harley-Davidson fell nearly $6.00 but were able to hold above their 52-week low of $54.22.