Diamonds and Dogs
Zumiez (ZUMZ) is zooming. The skateboard, footwear and apparel retailer is jumping 16% toward its 52 week high after the company raised its outlook for the third quarter because of better-than-expected sales. The company forecast third-quarter earnings of 29 cents to 30 cents a share on revenue of $216 million to $217 million, up from a previous forecast of 21 cents to 26 cents a share on revenue of $209 million to $213 million. Analysts surveyed by FactSet had estimated 24 cents a share on revenue of $209.5 million.
No love for Twitter (TWTR). Shares of Twitter are trading down 20% after a big run up the last month on rumors of potential takeover. Citing sources, the three major companies looking at Twitter (Disney, Google and Apple) would likely not purchase the social media company. Salesforce remains the last large cap potential bidder, but as their CEO said yesterday, they look at all possible deals, but pass on most. Not looking good for Twitter or their shareholders.