Diamonds and Dogs
Panera Bread (PNRA) is rising. The bakery chain is up 10% to a new high on news the company will explore strategic options including a possible sale after receiving takeover interest. The company now worth $6 billion, is working with advisers to study the options, said the people, who asked not to be named discussing the private process. Potential suitors for Panera could include JAB Holding Co., Starbucks Corp. and Domino's Pizza Inc.
CarMax (KMX) has too many cars. The no-haggle pricing pioneer is down 4% today and down 15% in the last several weeks ahead of earnings this week. Barron's wrote a negative article over the weekend about a glut of used cars and rising default and delinquencies for car loans. CarMax's captive auto-finance unit contributes almost 40% of the company's operating income which could be a problem when earnings are announced later this week.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.