Diamonds and Dogs
XPO Logistics (XPO) jumping on news of a sale or spinoff. The trucking and transportation company is up 12% on news the company plans to put up for sale two units in North America and two in Europe. It's hired Goldman Sachs Group Inc. and JPMorgan Chase & Co. to explore possible transactions. Frustrated by the company's low valuation, management is seeking to improve its value and become more of pure play in the trucking space.
Alcoa (AA) taking a hit. The top U.S. aluminum producer is down 9% not far from a 52 week low after reporting a wider-than-expected loss and saying global supply of aluminum is still outstripping demand.The forecast for a surplus adds more gloom to a slumping aluminum market and gives more urgency to the company's cost-cutting drive after a fourth straight quarterly loss. The oversupply will be fueled by production in China, according to the company's forecast.
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.