Diamonds and Dogs
7/18/13
The Sherwin-Williams Company (SHW)Sherwin-Williams is painting its shares red today, down 8.37% at $167.86. The paint and coating company saw its shares fall after announced disappointing second quarter results and said that its bid to acquire a Mexican company was rejected by antitrust regulators. For the second quarter, Sherwin Williams had an EPS of $2.54 on revenue of $2.7 billion; analysts' were expecting $2.57 per share and $2.76 billion in revenue. Additionally, the decision by Mexican regulators to reject the company's planned $2.3 billion purchase of paint company Consorcio Comex puts another little dent into its growth prospects going forward. Shares of Sherwin Williams dropped over $15 today but were able to hold up above their 52-week low of $122.79.
Overstock.com Inc. (OSTK)
Overstock.com is trading in the green today, up 22.48% at $34.98. The online retailer saw its shares surge after releasing better than expected earnings. For the quarter, earnings per share came in at $0.15, up from $0.02 a year ago, and better than analysts' expectations of $0.12. Revenue grew 22% to $293.2 million, well ahead of estimates at $277.2 million, as the main driver of the added revenue was a 21% increase in average order size. Today marks the company's sixth time in a row with positive earnings, and including today's gain shares are up more than 400% in the last year. Shares of Overstock.com set a new 52-week high of $35.60 intraday.
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