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Shares of Diamond Foods (DMND +7.5%) shoot higher on unconfirmed rumors that a large investor...

Shares of Diamond Foods (DMND +7.5%) shoot higher on unconfirmed rumors that a large investor has taken a new position. (Earlier: Fisher Asset Management's late July buy helps solidify DMND)
Comments (4)
  • anomaly1
    , contributor
    Comments (811) | Send Message
     
    sold DMND $19
    9 Aug 2012, 01:12 PM Reply Like
  • Gainz Burger
    , contributor
    Comments (17) | Send Message
     
    big action in Aug $20 calls- any real news will send this much higher
    9 Aug 2012, 02:18 PM Reply Like
  • chopchop0
    , contributor
    Comments (3542) | Send Message
     
    no one knows what the "real" news will do. The accurate earnings from the last few quarters on this company is anyone's best guess.
    9 Aug 2012, 03:16 PM Reply Like
  • WalnutMan
    , contributor
    Comments (119) | Send Message
     
    They stated they could not release their current quarterly earnings until they restate their two prior years. I suspect those two years will be quite bad but the last 3 quarters I am not sure. There is a mixed bag of input news. The cost of goods certainly has gone up but with all the recent food inflation, who knows how much of that they have been able to pass on through their distribution. I would think that if the two years of restatements are dismal but the last 3 quarters look good, the stock might not sink because what most people think the largest of the restatement negatives are known and likely are already priced into the stock. I don't know what their sales for Kettle and Pop Secret would be - I don't follow those parts of the market, but I would fathom a guess that much of the drop in volume they have in the walnut business will be covered by the higher prices, giving a dollar sales figure that doesn't look bad when compared to historicals. Their culinary and retail inshell nut sales would likely be the same or higher and the bulk walnut kernel volume down markedly as that is the portion of the market they have minimized to keep their branded retail programs covered. It will be interesting to see how the market interprets the restatements when they come.
    9 Aug 2012, 07:24 PM Reply Like
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