Diamonds and Dogs
Bass Pro Shop hooks into Cabela's. The fishing and hunting equipment chain, Cabela's (CAB) is jumping 14% after agreeing to be bought by Bass Pro Shops in a deal valued at $5.5 billion. The deal will help the privately held Bass Pro Shops nearly double its store count in North America. Cabela's has struggled with declining sales of apparel and footwear and has reported same-store sales growth in only one quarter in more than three years. The retailer had been under pressure from activist hedge fund Elliott Associates L.P, which disclosed an 11.1 percent stake in October last year, to pursue strategic alternatives.
Taser (TASR) is short circuiting. The stun gun maker, Taser is down 13% on reports the New York Police Department had awarded a five-year, $6.4 million body camera contract to a Seattle-based company and not Taser. Taser was also downgraded today at Ladenburg Thalmann from a buy to neutral. The stock has performed well this year still up over 100% even after today's decline.