Diamonds and Dogs
Sysco Corporation (SYY)
Sysco Corporation is looking great today, up 6.78% to $41.14. The food distributor saw its shares rally after news that Nelson Peltz's Trian Fund disclosed a $42.1 million stake in Sysco. That stake equates to 7.1% of the shares outstanding, which would now make Trian the largest shareholder of the company. Trian Fund said in a statement that it took a stake in Sysco because it believed that the shares were undervalued at the time the made the transaction. Shares of Sysco climbed over $2.70 to a new 52-week high of $41.87 intraday.
El Pollo Loco Holdings Inc. (LOCO)
El Pollo Loco is making its investors crazy today, down 19.61% to $14.76. The fast food restaurant saw its shares crash after releasing second quarter earnings. For the quarter, management reported net income of $0.19 per share on revenue of $89.5 million. Analysts forecast for earnings of $0.18 per share on revenue of $92.96 million. While the company beat on EPS it missed revenue causing shares to tank. Shares of El Pollo Loco fell over $3.50 today to a new 52-week low of $14.62.
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