Diamonds and Dogs
12/4/14Hawaiian Electric Industries Inc. (HE)
Hawaiian Electric is shocking investors today, up 14.46% to $32.26. The electric and utility provider for the state of Hawaii saw its shares catch a spark after news it would be bought out. NextEra Energy Inc. said it plans to buy Hawaiian Electric for $2.6 billion or $4.3 billion assuming all of Hawaiian Electric's debt. NextEra management said that Hawaiian Electric shareholders will receive a fractional share in NextEra Energy stock, plus a one-time cash dividend and shares in a related spinoff company as part of the deal. Shares of Hawaiian Electric jumped over $4.00 today and set a new 52-week high of $33.50 intraday.
Christopher & Banks Corporation (CBK)
Christopher & Banks Corporation is getting hit hard today, down 28.53% to $4.91. The women's apparel retailer saw its shares fall after issuing downside guidance and missing revenue estimates. For the quarter, Christopher & Banks saw revenue fall 6.4% to $110.6 million which missed analysts' estimates of $115.7 million. Furthermore, the company sees fourth quarter revenue of $94-98 million which again is below analysts' estimates of $107.35 million. Shares of Christopher & Banks fell nearly $2.00 today to a new 52-week low of $4.85.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.