Diamonds and Dogs
Jack in the Box (JACK) wants out. The quick-service restaurateur is up 2% today as they aim to bring immediate value to shareholders through a sale to another company or an increase in leverage through a debt capital raise. The recent performance for Jack in the Box has been bleak as shares are down 18.12% for the year as revenue fell 23% year over year. Net income fell 45% in the last year and cash on hand fell 39%. Other than that, things are great.
Things have gone from bad to worse at Goldman (GS).The investment bank is down 2% today and down over 30% for the year as the latest problems include criminal charges against two former executives. The country of Malaysia is claiming the bank collected excessive fees of $600m from $2.7bn that was raise and then much of the money raised was later stolen or embezzled. Malaysia officials are claiming the former Goldman employees knew about the stolen money. The former Goldman bankers will face prison sentences of up to 10 years if found guilty.