Shares of miner Harry Winston Diamond(HWD Quote) rallied almost 46% to $2.74 on Friday, a day after it announced it had received a $150 million investment from Kinross Gold(KGC Quote).
In the deal between the two Toronto-based concerns, Kinross is buying a minority 22.5% interest in the partnership that holds Harry Winston's 40% interest in the Diavik diamond mine in the Canadian Arctic, for $104.4 million. Diavik is majority owned by Rio Tinto(RTP Quote). Kinross will take a nearly 20% stake through an equity private placement of 15.2 million shares at $3 per share for a total of $45.6 million.
Books-a-Million(BAMM Quote) shares were up 21.5% to $4.01 a day after the Birmingham, Ala., bookseller saw its profit drop 35% in its fiscal year completed Jan. 31. The company also said it would pay a 5-cents-a-share dividend, and the CEO said he saw improvement in negative sales trends. ...
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