Diamonds and Dogs
XPO Logistics Inc. (BPO)
XPO Logistics is making its investors happy today, up 16.33% to $49.15. The transportation and logistics company saw its shares rally after news that they would acquire French logistics provider, Norbert Dentressangle, for $3.53 billion. Under terms of the deal, Founder Norbert Dentressangle will sell his 67% stake in the company for about $239 per share. Through the acquisition deal, XPO will gain access to Europe's largest fleet network. Shares of XPO Logistics rallied over $6.60 today to a new 52-week high of $49.50.
Wynn Resorts Ltd. (WYNN)
Wynn Resorts hit till they busted today, down 16.66% to $108.74. The casino resort company saw its shares drop after missing on earnings and cutting its dividend. For the first quarter, Wynn resorts announced $0.70 per share, less than a third of the $2.32 the company reported earnings in the year ago period, and significantly less than the $1.19 analysts were expecting. Revenue for the quarter was $1.09 billion, also missing analysts $1.21 billion expectation. The disappointing quarter led the company to slash its quarterly dividend payout to 50 cents from $1.50 per share owned. Shares of Wynn fell over $21.40 today to a new 52-week low of $108.27.