Diamonds and Dogs
8/25/09Tuesday, August 25, 2009
Burger King (BKC) may be retaking its throne atop the fast food giants, judging by the stock's performance today. The king increased their profits more than 16% from last quarter citing lower costs. However, they do admit that sales have continued to slide as more consumers have chosen to eat at home to save money. Nonetheless, Burger King shares rallied $1.70, an increase of 10% from yesterday's close.
Closing the book was the theme for Border's Group (BGP) stock today. The book, music, and movie superstore saw it's shares plummeted 20 cents or 5% today after reporting a worse than expected second quarter lost of $45 million or 76 cents per share. The stock is down 80% in the last two years. Where's Harry Potter when you need him?
Monday, August 24, 2009
Yet another retail stock coming in as a diamond today! Charlotte Russe Holding Inc. (CHIC) skyrocketed today after Boston based Advent apparel agreed to take Charlotte private for $380 million. Charlotte Russe's shares climbed 26% in late afternoon trading to $17.36 approaching the $17.50 per share buyout value that Advent announced.
Smith and Wesson (SWHC) trades lower right from the starting pistol today. The firearms manufacturer was downgraded by Wedbush Morgan ahead of the bell today. The analyst indicated that demand for firearms has seen a surge since the election of a Democratic president, fearing stricter gun control laws. However, they believe sales may turn the other way beginning in October or November, as they did after the election of the last Democratic administration. Smith and Wesson was downgraded from outperform to neutral, driving the stock south more than 7%.