Diamonds and Dogs
Twinkies up for sale. Hostess Brands (TWNK), the maker of Twinkies snack cakes, is up 20% on news the company is exploring a sale after fielding takeover interest from major snack food makers. General Mills Inc, Mondelez International Inc, PepsiCo Inc and Hershey Co are among the companies that have shown an interest in acquiring Hostess. Going into the day, the stock was down 1% for the year.
Retail took it on the chin this week. Nordstrom (JWN) is the latest retailer to report disappointing results. The stock is down 7% not far from a 52 week low as sales fell 7.9% to $3.77 billion year over year. Besides slowing sales and slowing demand, management said they are dealing with historically high levels of theft which they call unacceptable and needs to be addressed industry wide.
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