Diamonds and Dogs
Finish Line (FINL) is done with their race. The shoe and clothing retailer is up 29% after agreeing to be acquired by the U.K.'s JD Sports Fashion Plc. Under terms of the deal, JD will pay $13.50 in cash for each Finish Line share outstanding. Finish Line executives will continue to be involved in the business after the deal closes. The stock had tumbled 25% over the past three months through Friday.
Facebook (FB) still getting hit. On a 400 point up day, Facebook is down 7% today and down 20% in the last two months as individuals and companies have dropped their accounts and reduced their advertising spending on the social media website. On Friday, Elon Musk and Space X dropped their Facebook page. Today, Pep Boys said they would stop advertising on the website. Government regulations are next. The FTC confirmed they will investigate Facebook privacy data. Germany is also investigating privacy concerns.
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