Notable Stocks: Diamond Foods, Inc. (NASDAQ:DMND), Statoil ASA (ADR) (NYSE:STO), Ferrari NV (NYSE:RACE)

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On Wednesday, Shares of Diamond Foods, Inc. (NASDAQ:DMND), gained 8.91% to $38.00.

Snyders-Lance, and Diamond Foods, declared that they have reached a definitive agreement under which Snyders-Lance will acquire all outstanding shares of Diamond Foods in a cash and stock merger transaction for about $1.91 billion, counting the assumption of about $640 million of indebtedness.  Under the terms of the agreement, Diamond stockholders will receive 0.775 Snyders-Lance shares and $12.50 in cash per Diamond Foods share upon closing of the transaction.   The agreement has been approved by the Boards of Directors of both companies, who recommend that their respective stockholders approve the transaction. Oaktree Capital (OAK), Diamonds largest stockholder, has agreed to vote in favor of the transaction.  Diamond Foods stockholders will own about 26% of the combined company based on recentlys outstanding share counts.

The planned combination of Snyders-Lance and Diamond Foods creates an innovative, highly complementary and diversified portfolio of branded products.  Diamond Foods is a leading snack food company with five brands counting Kettle Brand® potato chips, KETTLE® Chips, Pop Secret® popcorn, Emerald® snack nuts, and Diamond of California® culinary nuts. Each Diamond Foods brand brings unique strengths that fit with Snyders-Lances planned plan while increasing the companys annualized net revenue to about $2.6 billion.

The transaction expands Snyders-Lances footprint in better-for-you snacking and improvements the Companys existing natural food channel presence.  Snyders-Lance anticipates that this transaction will expand and strengthen its Direct Store Delivery (DSD) network in the United States, and provide Snyders-Lance with a platform for growth in the UK and across Europe.

Diamond Foods, Inc. engages in processing, marketing, and distributing snack products; and culinary, in-shell, and ingredient nuts. The company operates in two segments, Snacks and Nuts. It offers potato chips, ready-to-eat popcorn, and snack nuts.

Shares of Statoil ASA (ADR) (NYSE:STO), inclined 0.31% to $16.30, during its last trading session.

Statoil, delivered adjusted earnings of NOK 16.7 billion and adjusted earnings after tax of NOK 3.7 billion in the third quarter. Statoil stated net income in accordance with IFRS of negative NOK 2.8 billion, mainly due to net impairment charges and provisions.

We continue to reduce underlying operational costs and deliver a quarter with strong operational performance and solid results from marketing and trading. In the third quarter, our financial results continued to be affected by low liquids prices. The results enable us to improvement our guided production growth to above 3% for 2015, in addition to reduce the guided capital expenditure level with USD 1 billion to around USD 16.5 billion. We have generated a strong cash flow in the current environment and have a solid balance sheet with a net debt ratio of 24%, says president and CEO of Statoil ASA, Eldar Saetre.

Adjusted earnings were NOK 16.7 billion in the third quarter contrast to NOK 30.9 billion in the same period in 2014. The reduction was primarily a consequence of lower liquids prices and raised depreciation, partially offset by stronger refining margins, good operational performance and reduced underlying operating costs. Realised average liquids prices in the quarter were down 37% measured in NOK contrast to the third quarter last year. Adjusted earnings after tax were NOK 3.7 billion, contrast to NOK 9.1 billion in the same period last year.

Statoil ASA, an energy company, engages in the exploration, production, transportation, refining, and marketing of petroleum and petroleum-derived products in Norway and internationally. The company operates through Development and Production Norway; Development and Production International; Marketing, Processing and Renewable Energy; and Other segments.

Finally, Shares of Ferrari NV (NYSE:RACE), ended its last trade with -3.68% loss, and closed at $51.87.

Ferrari, declares its merged net revenues and preliminary results2 for the third quarter and the nine months ended September 30, 2015.

Shipments were 1,949 units in Q3 2015, up 21% from 1,612 for Q3 2014. The performance was driven by a 33% improvement in sales of our 8 cylinder models (V8), in particular the 488 GTB, California T and 458 Speciale A, more than offsetting the phase-out of the 458 Italia and 458 Spider.  Our shipments of 12 cylinder models (V12) were down 17% as the F12berlinetta is in its 4th year of commercialization.

EMEA, Americas and Rest of APAC3 practiced good year-on-year improvement, +16%, 30% and 63% respectively. Greater China3 contracted by 24% vs. Q3 2014.

Net revenues for Q3 2015 were Euro 723 million, an improvement of Euro 61 million or 9% (+3% at constant currencies) from Euro 662 million for Q3 2014. Higher net revenues in cars and spare parts4 (Euro 75 million, +16%) were partly offset by a decrease in engines5 (Euro 25 million, -33%).

Ferrari N.V. designs, engineers, produces, and sells luxury performance sports cars worldwide. It offers nine models, counting seven sports cars comprising 458 Italia, 488 GTB, 458 Spider, 488 Spider, and F12berlinetta, in addition to special series 458 Speciale and 458 Speciale A; and two GT cars that comprise California T and FF.


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About Travis Garlick 1822 Articles
Been writing about and trading stocks since 2013. Manage a group of micro-cap investors on Facebook with over 15,000 members. Turned $8,500 into 185k the first year I started trading stocks and haven't looked back.