Why Chipotle (CMG), Advanced Micro Devices (AMD), and 3 Other Stocks Are Trending

Dave & Buster’s Reports Earnings

Traders are watching Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) today after the company reported second quarter earnings of $0.50 per share on revenue of $244.3 million. Although the results handily beat analysts’ estimates by $0.06 per share and $1.16 million, shares of Dave & Buster’s are in the red, as the market was evidently expecting better numbers. Among the issues that might have led buyers to stay away was the company’s full-year guidance of $983 million-to-$995 million in sales and adjusted EBITDA of $254 million-to-$260 million. The number of hedge funds in our system with holdings in Dave & Buster’s Entertainment, Inc. (NASDAQ:PLAY) rose by one quarter-over-quarter to 27 at the end of June.

Federal-Mogul Sells Itself

The M&A craze that began last weekend is still alive and well, as Federal-Mogul Holdings Corp (NASDAQ:FDML) has entered into a merger agreement with a subsidiary of Icahn Enterprises LP (NASDAQ:IEP). According to the deal’s terms, Icahn Enterprises will offer to buy all the stock it doesn’t already own of Federal-Mogul for $9.25 per share in cash. Icahn Enterprises previously offered $7 per share in February before upping it to $8 per share in June. The merger agreement has been approved by the Boards of both companies.

Carl Icahn‘s Icahn Capital owned 138.6 million shares of Federal-Mogul and 123.5 million shares of Icahn Enterprises at the end of the second quarter.

Disclosure: None