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Wall Street After-Hours: WhiteWave Foods, Joe’s Jeans
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Joe’s Jeans Inc. (NASDAQ: JOEZ) reported second-quarter results that missed consensus revenue and profit estimates. To make up for it, the clothing maker announced that it would acquire another jeans maker, Hudson Clothing Holdings Co. for about $97.6 million in cash and convertible stock. Shareholders are very unhappy, sending the stock down almost 13% after hours today, to $1.62, in a 52-week range of $0.80 to $2.04.
Interesting article in The Wall Street Journal on cable operators fighting back against high live broadcast sports costs. Live sports is about the only reason to have a cable connection these days, but that’s only true for big events. National sports and local pro sports channels get small viewership for very handsome fees which all cable subscribers pay for, whether they watch them or not.
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