Diamonds and Dogs
8/24/12
Autodesk Inc. (ADSK)Autodesk Inc.is a mess today, down 15.63% at $30.13. The software company saw its shares crash today after a terrible earnings report. For the second quarter ended, Autodesk missed estimates on revenues, missed estimates on earnings per share, operating margins dropped, and net margins contracted. Autodesk booked revenue of $568.7 million versus analysts' estimates of $593.7 million. EPS came in at $0.48 missing the forecast of $0.49. Operating margin was 16.3%, 90 basis points worse than the prior-year quarter. Net margin was 11.4%, 160 basis points worse than the prior-year quarter. There was no good news in the report other than gross margin was unchanged. Autodesk was able to stay above its 52-week low today.
SuperValu Inc. (SVU)
SuperValu Inc. added some value to their stock today, up 10.85% at $2.35. The retail and wholesale grocery store company saw its shares climb higher after news was released that the company was looking to find a buyer for a takeover. SuperValu's advisers are asking potential buyers to bid for the entire business even as several suitors have inquired about individual parts of the grocery company. A few companies that are interested in SuperValu are Cerberus Capital Management LP and Koninklijke Ahold NV. Analyst, Charles Cerankosky, said that the SuperValu's board would like to sell the company as a whole; however it would be more likely that the company is broken up and sold in pieces. SuperValu is off of its 52-week low now, however it is still far from its highs.
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