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.