Did Walnuts Crash Diamond Foods Stock?
The deal was expected to close in December, however, Diamond’s (NASDAQ:DMND) audit committee is reviewing an outside letter it received about the company’s accounting for certain crop payments to walnut growers. Diamond said the Pringles transaction is now slated to close sometime before June 2012. DMND owns the Emerald Nuts and Diamond of California Nuts brands.
“In recent years, the San Francisco-based company has been making a bigger push to be a bigger snacks purveyor with deals for Pop Secret popcorn and Kettle chips. Wednesday’s stock drop isn’t so tasty for shareholders: On Sept. 21, the stock had hit an all-time high of $96.13,” according to MarketWatch.
- Diamond Foods, Inc. (NASDAQ:DMND): The shares recently traded at $52.79, down $11.33, or 17.67%. Its market capitalization is $1.16 billion. They have traded in a 52-week range of $43.14 to $96.13. Volume today was 6,099,290 shares versus a 3-month average volume of 557,448 shares. The company’s trailing P/E is 23.78, while trailing earnings are $2.22 per share. The company pays a dividend of $0.18 per share for a dividend yield of 0.30%. About the company: Diamond Foods, Inc. is a branded food company specializing in processing, marketing and distributing culinary, snack, in-shell and ingredient nuts. Get the most recent company news and stock data here >>
- Procter & Gamble Co. (NYSE:PG): The shares recently traded at $62.86, up $0.15, or 0.24%. Its market capitalization is $172.95 billion. They have traded in a 52-week range of $57.56 to $67.72. Volume today was 8,778,600 shares versus a 3-month average volume of 12,146,400 shares. The company’s trailing P/E is 15.97, while trailing earnings are $3.94 per share. The company pays a dividend of $2.10 per share for a dividend yield of 3.30%. About the company: The Procter & Gamble Company manufactures and markets consumer products in countries throughout the world. The Company provides products in the laundry and cleaning, paper, beauty care, food and beverage, and health care segments. Proctor & Gamble’s products are sold primarily through mass merchandisers, grocery stores, membership club stores, drug stores, and neighborhood stores. Get the most recent company news and stock data here >>