GT Advanced Technologies (GTAT): Shares are getting shattered for the second day running. The stock is down more than 20% since It became clear that Apple would not be using Sapphire glass in the new iPhone 6. GT Advanced shares had moved more than 70% higher since a deal with Apple was announced last year. Unfortunately that deal didn't obligate Apple to use Sapphire glass for the new phones. Goldman and Piper were among the firms downgrading GTAT in the wake of the big reveal. Top notch work, fellas.
Krispy Kreme (KKD): Investors have a glazed look after yet another earnings miss. Last night the doughnut kings reported earnings of 13-cents, 2 cents short of estimates. Apparently the world doesn't share our enthusiasm for nature's perfect food, as international franchise same-store-sales dropped 2.4%. As we've touched on in the past, doughnuts are a surprisingly good economic tell. At least for the moment foreigners are saying "Nien" to our snackfood and that's leaving a mark on Krispy Kreme shares which are down more than 10% over the last year.
Family Dollar (FDO) is trending though the shares are flat. The company is urging shareholders to take no action in response to Dollar General's hostile tender offer of $80 a share. Family Dollar says it will review the tender but by way of foreshadowing offered that it considers it to be much the same as the offer it rejected last week. The company is still intent on merging with Dollar Tree for $74.50 a share in stock and cash. Based on Family Dollar shares sitting at $78.50, Wall Street seems to think there's still room to negotiate.
Programming Note: Tonight President Obama will address the nation, discussing the growing threat of the extremist group IS, the Islamic State, in Iraq and Syria. Yahoo will present live coverage beginning at 8:45pm ET anchored by Katie Couric and featuring Yahoo News team members Bianna Golodryga, Michael Isikoff, and Matt Bai. Your questions will be answered. Tweet @katiecouric using #askyahoonews.
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