Diamonds and Dogs
Put some pep in your step while you shop for parts. Pep Boys (PBY) is jumping 8% today to a 52 week high, up 80% year to date thanks to Icahn Enterprises making an offer for Pep Boys after the firm, Bridgestone made an offer on Christmas Eve. The offer from Icahn of $18.50 per share valuing the company at $1 billion is quite a bit higher than Bridgestone's bid of $17 per share which values the company at $947 million. The bidding wars began in October when Bridgestone made an initial offering of $15 per share and then Icahn made a bid of $16.50 per share, which was then snubbed by Bridgestone's offering last Thursday so maybe we have higher to go for Pep Boys bidding war.
Can you print money on a 3D printer? 3D Systems (DDD) stock dropped 4% today, and down 72% for the year as demand keeps dwindling. Yesterday, the company issued a statement saying they would discontinue their consumer 3D printer called the Cube priced at $999. The corporate statement is the company will focus their money and effort towards more near-term opportunities in the enterprise markets, but in reality the novelty of 3D printers has dissipated. The good news is the company is still profitable for now and the stock trades below its book value. Let's hope 3D System's stock is now a value play.