Diamonds and Dogs
Quality Distribution Inc. (QLTY)
Quality Distribution is looking great today, up 60.51% to $15.74. The bulk chemical transporter saw its shares rally after new it would be taken private by Apax Partners in an $800 million deal. Under the terms of the deal, Apax will pay $16 per share, which represents a premium of 63% to Quality's closing price yesterday. The agreement also includes a 40-day go-shop period in which Quality may look for other offers. Shares of Quality rallied nearly $6.00 today to a new 52-week high of $15.86.
Global Power Equipment Group Inc. (GLPW)
Global Power Equipment is trading in the red today, down 32.88% to $8.22. The custom engineered equipment company saw its shares fall after a barrage of incidents. Global Power announced that it would have to restate its 2014 earnings due to accounting errors. This then led the company to delay the release of its first quarter 2015 earnings. Both of this issues resulted in Harwood Feffer LLP to investigate the company to determine whether the board has breached its fiduciary duties to shareholders. Shares of Global Power fell over $4.00 today and hit a new 52-week low of $8.17 intraday.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.