Diamonds and Dogs
10/23/13
Usana Health Sciences Inc. (USNA)Usana Health Sciences is making investors feel sick today, down 13.72% at $78.87. The nutritional and personal care company saw its shares get crushed after its full year forecast came in below estimates. Original estimates from Usana management for the full year 2013 were for net sales of $700-720 million, with an EPS of $5.30-$5.45. Now the company sees its full year slightly lower with net sales coming in between $705-710 million and an EPS of between $5.35-$5.40. The lower forecast caused investors to flee the stock, however shares are still well above their 52-week low of $30.51.
Corning Inc. (GLW)
Corning Inc. is showing some life today, up 14.19% at $17.53. The glass and ceramic company saw its shares jump after a deal with Samsung was announced. The deal guarantees the Corning will supply Samsung with liquid crystal display glass through 2023. Samsung will receive $1.9 billion worth of Corning preferred shares. It will also invest another $400 million in preferred shares of Corning. If converted, the shares would give Samsung Display a 7.4% stake in Corning, making it the company's biggest shareholder. Corning management said it expects the deal will add $2 billion in annual sales and 20 percent to earnings, excluding one-time items, in 2014 and 2015. Shares of Corning reached a new 52-week high of $18.07 intraday.
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