Diamonds and Dogs
(ANN) Ann Taylor and Loft Brands
The stock for (ANN) is starting this summer in style. With a fashionable stock price of $46.10, the women's clothing company is soaring up to 19.09%. (ANN) is currently trending due to Ascena Retail Group (ASNA) expanding its own women's apparel business by purchasing Ann Taylor and Loft brands for $2.16 billion. Ascena is the owner of Lane Bryant and Dressbarn retail stores, which are primarily known for their affordability: . The addition of Ann Taylor and Loft Brands will provide Ascena the option of more casual work-attire that women are increasingly leaning towards.
(EBIO) Eleven Biotherapeutics
Stockholders of Eleven Biotherapeutics might want to close their eyes. The biotech company's stock dropped by more than 70% to $3.75 price per share due to a failed drug test to treat severe dry eye disease. This 70.76% drop highlights the uncertainty facing Biotech investors due to the various trails required for a drug to make it to the pharmacy. Though EBIO investors will shed a tear today, the company aims to continue researching a product for the unmet consumer needs of allergic conjunctivitis and dry eye.