Diamonds and Dogs
7/21/14Diamonds and Dogs 7-21-14
Diamond: EMC Corporation
EMC Corporation is on the way up today to $28.19, a 4.48% increase. The American multinational corporation headquartered in Hopkinton, Massachusetts offers data storage, security, and analytics for businesses of all sizes. Their shares advanced on this day because activist investors Elliot Management has taken a stake of over $1B in EMC Corp. The investors reportedly believe EMC's stock will get a boost in the near future from several factors. This influx of investors makes for an attractive stock in EMC's short-term future.
Dog: Herbalife (HLF)
Herbalife is experiencing a mid-day drop today, down as much as 7.7% to 56.18. The International multi-level marketing company that sells nutrition and skin-care products is tanking after activist investor Bill Ackman exposed the company as a "massive fraud". Ackman plans to present information that shows Herbalife will collapse as a company. The comments by Ackman on CNBC had an instantaneous negative effect on the stock, which sunk to the day's low within minutes. Ackman has been after Herbalife for some time now, and this time his comments have had a detrimental effect on stockholders opinions of HLF.
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