Diamonds and Dogs
December 4th 2008December 4, 2008
Stock up!! Del Monte Foods Co. (DLM), up 17.72% or 98 cents to $6.51. The food distributor said profit nearly doubled, beating analyst estimates. (DLM) producer and distributor of branded food and pet products reported second quarter revenues rose 11.5% to $901.0 million from $808.2 million a year ago.
Freeport-McMoran Copper & Gold Inc (FCX) plunged 17.28% or $3.77 to $18.05 after the copper, gold and molybdenum mining company announced larger than expected job cuts. The current cuts are the largest since 2001. The company also eliminated dividend.
Who needs a macroeconomic miracle? Infineon (IFX) topped the list of biggest price decliners. (IFX) tanked 41.38% or 84 cents to $1.19 after Europe's second-largest chip maker reported wider-than-expected net loss. A gloomy outlook for 2009.
December 3, 2008
Aiming for profitability in 2011, Ford (F) CEO Mulally drove a hybrid to Washington still looking for $9 billion bailout. The car maker is up $0.15 to $2.70. Another company who has a plan in mind is General Electric (GE) who is at $17.61 today up $2.11. GE to advertise during Super Bowl XLIII.
Nothing short of horrible for Goldman Sachs (GS), who is down today and facing a $2 billion loss. This loss equals to about $5 a share. Goldman's shares closed the day at $65.00 down %1.16. The stock is down 69% this year. The Tuesday, December 16th announcement will be interesting as they release its Annual and fourth quarter 2008 financial results.
December 2, 2008
Hot healthcare stock on the move! Our Diamond today comes from Santa Barbara, California. Mentor Corp. (MNT) focuses on saline-filled implants and silicone gel-filled implants for plastic and reconstructive surgery. The aesthetic and general surgery market shares rise $14.43 to $30.58. Johnson & Johnson put a definitive agreement on the table to acquire MNT for $1.07 billion. Dr. 90210 would be proud that this little corner of the market "got bigger".
The bad news for the car industry today is still on the radar. Ford (F) is considering the sale of its Volvo unit. (F) fell $0.14 to $2.55. Enough about cars, let's talk fashion. Why is the stock down for Liz Claiborne (LIZ) if CEO Bill McComb, who transitioned from Johnson & Johnson, remade the company from "frumpy to fresh"? (LIZ) fell $0.74 to $2.11, down 25.96% for the day. (LIZ) was set to be booted from the S&P 500 stock index after the close of trading. We probably won't know the answer for years.