Diamonds and Dogs
10/29/15
Stay healthy through this winter while you watch you portfolio grow with today's diamond. Allergan (AGN) rose over $300 a share today up 6% thanks to news that Pfizer approached them about a merger. If the deal is consummated, the combined companies will create the largest drug maker in the world. Plus, Allergan is based in Ireland so Pfizer could move its headquarters across the pond sending the 10th largest US company's tax base to Ireland. Carl Icahn sent a letter to Congress today raising his concern about this trend of moving headquarters overseas.
If only you could change your outcome with today's dog movement. Buffalo Wild Wings (BWLD) is the dog of the day down 18% to a new 52 week low following disappointing earnings and lower guidance. The sports bar restaurant known for its' plethora of televisions and tasty wings lost its mojo in the third quarter. The company is blaming the disappointing earnings on the NFL and a shift in the sports calendar versus the year-ago period, resulting in one less week of football and fewer pay-per-view events to draw in diners. Additionally, Buffalo Wild Wings cut its full year 2015 net earnings growth to "single-digit" from 13% and introduced "underwhelming" 2016 guidance. Can't blame the NFL for that.
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