Diamonds and Dogs
Use Con-way (CNW) to truck your way to the top. Con-way is the diamond of the day up 33% after agreeing to be acquired by XPO Logistics (XPO) for $47.60 a share in cash. The acquisition is expected to be finalized next month. The acquisition will make XPO one of the largest freight and and logistic providers in the US. The transports have been in the tough spot, but it looks like XPO Logistics is taking advantage of this downturn.
Bend, twist, head stand, and lose money. Today's dog is the athletic apparel company Lululemon Athletica Inc (LULU). They reported a 16% jump in overall sales and an increase of 6% in sales per store older than a year but they still dropped 12% by midday. The increase in sales sounds nice until you look at their bloating inventory which growth 59%. Looks like some nice discounted sales are coming to Lululemon real soon.
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