Diamonds and Dogs
Monday July 27, 2009Diamond
Science instrument maker Varian Inc. will agree to sell company to Agilent Technologies Inc. for $1.5 billion. Agilent Technologies will pay $52 per share in the cash deal. Agilent Technologies is a manufacture of research instruments and vacuum devices. The agreement was made during Monday's trading and CEO Bill Sullivan hopes to seal the deal by the end of the year. Varian stock is up 28.9% or $11.33 to $50.53 per share.
Corning, the world's largest maker of liquid crystal display glass, has explained that its earnings for the third quarter are expected to be flat when compared to the second quarter. The company manufactures a type of glass that is usually found in the monitors or display screens of computers, televisions, digital phones, and other similar electronic devices. Panel makers did not purchase as much glass as expected at the end of last year in order to reduce buildups in inventory. The company's shares have dropped 73 cents or 4.3% to $16.27 in midday trading.
Through its new advertisement system, Baidu, the number one Chinese internet search engine, expects sales to grow faster than third quarter expectations. China's rapid increase in the number of internet users throughout the country has helped boost Baidu's revenue. According to company reports, the number of online marketing customers has grown at least 9.7% each quarter since the start of last year. These factors caused Baidu's stock to rise $28.62 to $361.26 during market trading on Thursday.
Deckers Outdoors Co.
Decker Outdoors predicts their fourth quarter earning to be below street expectations due to a shift of sales of UGG's. The UGG fad emerged in 2008. As a result of market expenses and sales of UGG boots, Decker Outdoor revenue rose 13% to $102.5 million from $91.1 million. However due to low expectations and the media, it caused shares to fall $9.21 or 12% to $68.00 during market trading.