Diamonds and Dogs
Today's diamond is keeping things ventilated in this crazy market. The US company, Nortek (NTX) is jumping 38% after accepting the offer from the British firm, Melrose to be bought out for $2.81 billion. The deal will give Melrose access to Nortek's growing North American ventilation and home security business. It looks like the Brexit vote hasn't hurt Melrose.
There is no Green or relief for today's dog. The designer and manufacture of freight car equipment, Greenbrier (GBX) is watching their stock tumble 8% back toward the 52 week low after lackluster earnings and guidance. Net income and earnings fell over 20% and the forward guidance pointed to a slow recovery. Greenbrier seems to be the epitome of this market, going nowhere fast.
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